Welcome to our dedicated page for U-Haul Holding Company news (Ticker: UHAL), a resource for investors and traders seeking the latest updates and insights on U-Haul Holding Company stock.
U-Haul Holding Company (symbol: UHAL) is a prominent American enterprise specializing in the rental of trucks, trailers, and self-storage space. Founded in 1945, the company has firmly established itself as the No. 1 choice of do-it-yourself movers with over 23,000 rental locations across the United States and Canada. U-Haul’s wide array of services includes moving truck and trailer rentals, self-storage units, moving boxes, and packing supplies. Additionally, the company provides LPG (propane) refills, trailer hitch and wiring installation, and storage container rentals.
U-Haul operates through three key segments: Moving and Storage, Property and Casualty Insurance, and Life Insurance. The Moving and Storage segment, being the most significant, contributes the majority of its revenue. The company’s fleet boasts impressive numbers, including 192,200 trucks, 138,500 trailers, and 44,500 towing devices. U-Haul is also the third-largest self-storage operator in North America, overseeing 967,000 rentable units and 83.3 million square feet of self-storage space.
U-Haul continues to expand its reach with several ambitious projects. Recently, U-Haul announced the development of new retail, moving, and self-storage centers in Junction City, Kansas, and Lake Ozark, Missouri. These centers will feature climate-controlled storage units, truck and trailer sharing, and U-Box portable storage containers. Additionally, U-Haul has acquired properties in Webster, New York, and Decatur, Alabama, further enhancing its service capacity in these regions.
The company actively promotes sustainability. Its shared-use business model allows communities to share moving equipment, reducing the need for large-capacity vehicle ownership. U-Haul’s Adaptive Reuse program, which repurposes existing buildings, along with innovations like fuel-efficient truck modifications and recyclable Ready-To-Go Boxes, underscores its commitment to green business practices. Recently, its U-Box Load Share program was awarded the 2023 Best in Biz gold for being the Most Environmentally Friendly Service of the Year.
U-Haul is also a significant employer, recognized as a Best for Vets employer by The Military Times. It actively recruits veterans and promotes job growth in local communities, planning to hire locally for new projects in various locations. The company’s enhanced app facilitates easy access to its services, allowing customers to reserve equipment and manage rentals conveniently through their smartphones.
For more information about U-Haul and its wide array of services, visit their official website or download the U-Haul app from the App Store or Google Play.
U-Haul Holding Company (NYSE: UHAL, UHAL.B) reported fiscal 2024 net earnings of $628.7 million, down from $924.5 million last year. The company faced a net loss of $0.9 million in Q4 2024 compared to net earnings of $37.4 million in Q4 2023.
Self-moving equipment rental revenues decreased by $10 million in Q4 and $253.2 million for the full year. Self-storage revenues increased by $17.5 million in Q4 and $86.6 million for the full year. Occupied units rose by 6% in Q4, despite a 1.4% drop in occupancy rates. Depreciation costs increased by $11.6 million for rental equipment and $12.3 million for buildings in Q4. Net gains from rental equipment sales decreased by $32 million in Q4.
Maintenance costs decreased by $11 million in Q4 but rose by $33 million for the year. Operating costs rose by $21.3 million in Q4 and $66.7 million annually, influenced by personnel costs. Capital expenditures were $1,619 million for fiscal 2024, with a projected increase for 2025. Real estate spending decreased by $83 million. Cash and credit availability fell from $2,499.2 million to $1,886.3 million. A $0.05 dividend per share of Non-Voting Common Stock was declared on March 6, 2024.
U-Haul is offering 30 days of free self-storage and U-Box container usage to victims of tornadoes that devastated Rogers and Bentonville, Arkansas; Claremore and Pryor, Oklahoma; and Valley View, Texas. The assistance includes access to dry and secure storage rooms and portable storage containers. This offer is available at eight U-Haul facilities across the three states. U-Haul emphasizes its commitment to community support, particularly in times of natural disaster, and collaborates with the American Red Cross as an official Disaster Responder. Affected residents can contact their nearest participating U-Haul facility for more information.
U-Haul announced plans for a new, state-of-the-art retail, moving, and self-storage facility in North Buford, GA, set to be completed by spring 2026. The facility will feature over 800 climate-controlled storage units, truck and trailer sharing, and various moving supplies. The project, which will create 30 jobs, highlights U-Haul’s commitment to sustainability with eco-friendly initiatives such as Adaptive Reuse and U-Box Load Share. U-Haul aims to support local job growth and continues to be recognized as a top employer for veterans.
U-Haul Co. of North Austin is offering 30 days of free self-storage and U-Box container usage to families affected by the recent tornado in Temple, Texas. Thirteen facilities are participating in this initiative, providing essential storage solutions to help with recovery. The offer is available for new rentals and based on availability but excludes residential delivery and pick-up. U-Haul is also a recognized American Red Cross Disaster Responder, emphasizing its commitment to aiding communities during disasters.
U-Haul has acquired a former K-Mart building in Germantown, Memphis, converting it into a new U-Haul Moving & Storage of Germantown facility. The 13.7-acre site, bought on May 1, now offers nearly 1,000 self-storage units. U-Haul plans to add 200 more units and provide additional services, including truck rentals, moving supplies, hitch installation, and propane exchange.
The facility is the ninth U-Haul store in Memphis and will operate seven days a week with varying hours. U-Haul aims to hire up to 15 local employees, prioritizing veterans. The acquisition aligns with U-Haul's Corporate Sustainability initiatives, emphasizing adaptive reuse of buildings and promoting green programs like the Take A Box, Leave A Box initiative and a storage re-use center.
U-Haul has acquired the former StoreEase Self Storage facility at 2752 Blanding Blvd., Middleburg, FL, to expand its services in Clay County. The 11-acre property now operates as U-Haul Moving & Storage at Black Creek and offers 534 self-storage units, including indoor climate-controlled rooms. Additional services include moving truck rentals and green initiatives like the Take A Box, Leave A Box program. The facility is managed remotely by U-Haul Moving & Storage of Middleburg-Lakeside, located 6 miles away. Operating hours are 9 a.m. to 5 p.m. daily. U-Haul emphasizes community convenience and sustainability, with programs aimed at reducing waste and improving fuel economy.
U-Haul is offering 30 days of free self-storage and U-Box container usage to residents affected by the recent storms in Greater Houston. This initiative covers 33 U-Haul stores, including 21 within Houston city limits. The offer is based on availability and applies to new rentals. The severe storms on May 16 caused extensive damage, prompting U-Haul's disaster relief efforts. For more information, residents can contact the local participating U-Haul stores.
U-Haul's U-Box Load Share program has been honored as a 2024 Champion of Change for its innovative and environmentally friendly approach. Recognized on May 16 at the DoubleTree Resort in Paradise Valley, the program is designed to support the gig economy by allowing customers to tow another family's portable moving container, reducing the need for freight tractor-trailers. This initiative has completed over 35,000 Load Shares, offering cost savings, enhancing safety, and promoting sustainability. U-Haul's commitment to shared-use products and environmental responsibility has earned it multiple awards, including the 2023 Best in Biz Awards gold winner for Most Environmentally Friendly Service of the Year.
On May 17, 2024, U-Haul announced that nine of its stores in southern Louisiana and southeast Texas are offering 30 days of free self-storage and U-Box container usage to residents affected by severe weather, including thunderstorms and flash floods. This initiative aims to assist communities during their recovery process by providing dry and secure storage options. The offer is available to new customers and is subject to storage availability. However, the free U-Box offer does not include residential delivery or pick-up of containers. For more information, residents are encouraged to contact their nearest participating U-Haul facility.
U-Haul Holding Company (NYSE: UHAL, UHAL.B) announced it will release its fourth-quarter fiscal year 2024 financial results on May 29, 2024, after market close. The company will also hold an investor conference call and webcast on May 30, 2024, at 8 a.m. Arizona Time (11 a.m. ET). The event will cover detailed financial performance and outlook. Investors can listen to the webcast online.
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