U-Haul Holding Company Stock Price, News & Analysis

U-Haul has closed its retail showroom at 50 W. Alexis Road in Toledo after 39 years of operation, effective September 13, 2022. The closure led to the termination of five employees. The location will continue to operate as a self-storage facility, managed remotely from a nearby U-Haul location at 1739 W. Alexis Road. U-Haul cited various strategic reasons for the closure, including safety concerns and shifts in demographics. Despite the closure, the company maintains a network of local dealers to support DIY movers in the Toledo area.

The U-Haul store in Del City, Oklahoma, has officially closed after serving the community for 45 years, effective September 4, 2022. Originally a service station, the store was acquired by U-Haul in 1977 and operated on 0.82 acres. Two employees were affected by the closure. U-Haul plans to lease the property to an independent business, ensuring that truck and trailer rentals remain accessible. The 24 storage units on-site will be remotely managed until moved to a nearby U-Haul facility in Midwest City. U-Haul continues to partner with local dealers to meet customer needs.

The American Association of Motor Vehicle Administrators (AAMVA) has incorporated U-Haul Safe Trailering best practices into its updated Model Driver's License Manual, enhancing driver education for safe trailering. This initiative aims to prevent road hazards and fatalities. With nearly everyone exposed to trailer towing, U-Haul's Vice President stated that understanding safe trailering is essential. Since 1959, U-Haul has collaborated with AAMVA to promote highway safety. The program will provide essential information to new drivers across jurisdictions, reinforcing safe driving practices.

On August 18, 2022, AMERCO (Nasdaq: UHAL) declared a special cash dividend of $0.50 per share. This dividend will be payable on September 20, 2022 to shareholders of record as of September 6, 2022. AMERCO is the parent company of U-Haul International and other subsidiaries. U-Haul, the leading choice for do-it-yourself movers, operates over 23,000 locations across the U.S. and Canada, with a fleet comprising approximately 186,000 trucks and several other rental and storage options.

AM Best has affirmed Repwest Insurance Company's Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Rating of 'a' (Excellent), with a stable outlook. These ratings highlight Repwest's strong balance sheet and operational performance, driven by solid risk-adjusted capitalization and profitable underwriting results. The company benefits from U-Haul's leading market position and growth in self-storage and self-moving services. Repwest provides commercial inland marine products, ensuring goods stored in various U-Haul offerings.

U-Haul has acquired the former Starpar Storage property at 4541 Tanglewood Drive in Sebring, Florida, marking its first company-owned facility in the area. The new location, operational since July 19, 2022, features 575 rental units and offers a range of services including self-storage, truck and trailer sharing, and moving supplies. Plans are in place to expand with additional drive-up storage units. U-Haul aims to create 20 local jobs at this facility, contributing to the community's growth.

AMERCO (Nasdaq: UHAL), the parent company of U-Haul International, has scheduled its sixteenth annual virtual analyst and investor meeting for August 18, 2022, at 11 a.m. Arizona time (2 p.m. Eastern Time). The meeting aims to enhance investor engagement and align with the company's sustainability initiatives. Attendees can participate by visiting www.amerco.com on the day of the event. AMERCO continues to innovate and expand its offerings in the moving and storage industry, maintaining a strong commitment to its customers and the environment.

U-Haul is responding to severe flooding in Kentucky and Tennessee by offering 30 days of free self-storage and U-Box container usage at six facilities. This initiative aims to assist residents during their recovery from the extensive home damage caused by recent storms. The offer is available while supplies last, and impacted individuals are encouraged to utilize the storage services. U-Haul continues to demonstrate its commitment to community aid, being recognized as an official American Red Cross Disaster Responder.

AMERCO (Nasdaq: UHAL) reported net earnings of $334 million, or $17.03 per share, for Q1 fiscal 2023, down from $345.2 million, or $17.60 per share, year-over-year. Self-moving equipment rental revenues increased by $55.4 million, or 5.4%, and self-storage revenues rose by $35.8 million, or 26%. Occupancy rates improved, with a 19% increase in occupied units. However, operating earnings decreased by $1.4 million due to rising costs. Cash and credit availability in the Moving and Storage segment stood at $3.1 billion, reflecting strong liquidity.