UHALB - UHALB STOCK NEWS

U-Haul Holding Company (NYSE: UHAL, UHAL.B) has announced a $500 million private placement of senior unsecured notes. The offering consists of four tranches with a weighted average interest rate of 5.94%. The notes are structured as follows:

• Series A: $100 million at 5.86%, due August 21, 2032
• Series B: $100 million at 5.91%, due August 21, 2033
• Series C: $100 million at 5.95%, due August 21, 2034
• Series D: $200 million at 6.00%, due August 21, 2035

This issuance follows two previous private placements in fiscal 2022 and aims to provide fixed cost capital for U-Haul's growth and expansion of new locations. The notes are not registered under the Securities Act of 1933 and cannot be offered or sold in the United States without registration or exemption.

U-Haul Holding Company (NYSE: UHAL, UHAL.B) has declared a quarterly cash dividend of $0.05 per share on its Series N Non-Voting Common Stock (NYSE: UHAL.B). The dividend is set to be paid on September 27, 2024 to shareholders of record as of September 16, 2024. This marks the eighth dividend issued under the company's dividend policy, which was initially announced in October 2022. U-Haul Holding Company is the parent organization of several subsidiaries, including U-Haul International, Oxford Life Insurance Company, Repwest Insurance Company, and Amerco Real Estate Company.

U-Haul Holding Company (NYSE: UHAL, UHAL.B) has announced its eighteenth annual virtual analyst and investor meeting, scheduled for Thursday, August 15, 2024, at 11 a.m. Arizona time (2 p.m. Eastern Time). This virtual event is part of the company's key investor outreach program, allowing investors and analysts to interact with organizational representatives. Joe Shoen, chairman of U-Haul Holding Company, emphasized that this virtual format conserves shareholders' dollars and aligns with the U-Haul System's corporate-wide sustainability initiative. Participants can join the meeting by visiting investors.uhaul.com and selecting '2024 Virtual Analyst and Investor Webcast' on the day of the event. Questions for management can be emailed to IR@uhaul.com before the meeting or submitted live during the Q&A session.

U-Haul Holding Company (NYSE: UHAL, UHAL.B) reported net earnings of $195.4 million for Q1 fiscal 2025, down from $256.8 million in the same period last year. Earnings per share for Non-Voting Shares (UHAL.B) were $1.00, compared to $1.31 in Q1 fiscal 2024. Self-storage revenues increased by 8.4%, while self-moving equipment rental revenues grew by 1.5%. The company added 17 new storage locations, expanding its net rentable square feet by 1.7 million. Moving and Storage earnings from operations decreased by $64.3 million, primarily due to reduced gains from retired rental equipment disposal and increased fleet depreciation. However, EBITDA for the Moving and Storage segment increased by $16.5 million. Cash and credit availability stood at $1,566.8 million as of June 30, 2024.

U-Haul® is expanding its presence in Moab, Utah, with plans for two new facilities to serve the moving, self-storage, and recreational needs of Grand County. The first, U-Haul Moving & Storage of Moab, will open a temporary retail showroom on Aug. 19, 2023, offering truck rentals and moving supplies. By March 2025, it will feature 700 climate-controlled self-storage units. The second facility, U-Box & Storage of Moab, is set to open in January 2025, providing portable storage and secure RV parking.

U-Haul will implement its ecofriendly Adaptive Reuse program to transform an existing industrial warehouse for the second property. The expansion aims to create up to 19 new jobs in Moab, with a focus on hiring veterans. These developments align with U-Haul's sustainability initiatives, supporting infill developments and reducing carbon footprint in local communities.

U-Haul has closed its old repair facility at 1570 V. Odom Blvd. in Akron, Ohio, after 43 years of operation. The closure, effective July 19, resulted in 41 Team Members being let go. U-Haul will retain ownership of the building and repurpose it for expansion needs at the U-Haul Moving & Storage of Akron store. Moving trucks and trailers will now be serviced at the new Akron Repair Shop at 1520 V. Odom Blvd.

Alissa Nider, U-Haul Company of Akron president, stated that the region's growth necessitated the move to a larger facility. The new location is expected to inspect more equipment and provide more jobs in the community. This closure is part of U-Haul's ongoing evaluation of its operations to better serve customer needs and adapt to changing market conditions.

U-Haul has opened a new 55,000-square-foot Akron Repair Shop at 1520 V. Odom Blvd., replacing its former facility at 1570 V. Odom Blvd. The new location will allow U-Haul to inspect and service more equipment to support its growing business in Ohio. The company plans to hire several new team members, including mechanics, engineers, and technicians, to staff the new shop. U-Haul is committed to promoting job growth in the Akron community and actively recruits veterans, giving them preference in the hiring process. The former repair shop space will be repurposed to serve the needs of the U-Haul Moving & Storage of Akron store.

U-Haul® has acquired a 7.8-acre property at 3394 Elm Road NE in Warren, Ohio, formerly occupied by Chase® bank and Tops® Friendly Market. The U-Haul Moving & Storage of Warren North is currently operating from a temporary retail showroom, offering services like truck rentals, trailers, and moving supplies. Renovations are scheduled for completion by summer 2025.

The company plans to add 1,000 indoor climate-controlled self-storage units and a warehouse for 500 U-Box portable containers. Additional services will include professional hitch installation and propane. This project is part of U-Haul's Adaptive Reuse program, which aims to reduce emissions and eliminate blight. The company expects to hire up to 10 Team Members locally, with a preference for veterans.

U-Haul® has acquired the historic Ward Bakery building in Youngstown, Ohio, to expand its self-storage options. The 101-year-old building, now U-Haul Storage of Youngstown, will be renovated to include up to 800 climate-controlled storage units with high-end security features. The exterior will be preserved to maintain its original character. This project, part of U-Haul's Adaptive Reuse program, is the company's second such initiative in Youngstown.

Renovations are scheduled to be completed by spring 2025. The company plans to hire up to six local team members to support the new store, with a preference for veterans. This acquisition aligns with U-Haul's corporate sustainability initiatives, promoting infill developments and reducing carbon footprint by repurposing existing buildings.