U-Haul Holding Company Stock Price, News & Analysis

The U-Haul store in North Carlisle, which had been serving customers for 39 years, has closed as of May 31, 2022. The closure affects five employees and is part of U-Haul's strategy to adapt to evolving market conditions, including demographics and competition. U-Haul retains ownership of the 7,186-square-foot building and continues to offer services through its U-Haul Moving & Storage location at a former Kmart site. The company emphasizes its network of over 21,000 dealers in the U.S. and Canada to support DIY movers.

U-Haul plans to build a new moving and self-storage facility in Augusta, Georgia, set to open by June 2024. This four-story facility will feature over **700 climate-controlled self-storage rooms** and various services like truck rentals and moving supplies. The 10.76-acre property was acquired on June 14, 2022. U-Haul aims to address the growing demand for self-storage in the area, prioritizing local hiring and supporting the community. The company has a strong presence in North America with over **23,000 locations** and is recognized as a veteran-friendly employer.

U-Haul is set to open a new facility in Vernal, Utah, converting a former Kmart into over 700 climate-controlled self-storage rooms. The 93,357-square-foot space, acquired on June 13, is part of U-Haul's commitment to adaptive reuse and sustainability, minimizing environmental impact by repurposing vacant buildings. This facility will enhance local storage options with high-tech security and affordable prices while promoting job growth in the community by hiring at least 15 local team members. U-Haul has established 13 locations in Utah, expanding its presence and service offerings.

U-Haul is repurposing the former Kmart site at 1050 NW 38th St. in Lawton, transforming it into a facility with over 800 indoor climate-controlled self-storage units. This adaptive reuse project aims to enhance sustainability and reduce carbon footprint by utilizing existing structures. U-Haul acquired the property on May 26, 2022, and plans to create 800 ADA-accessible units equipped with modern security features. The move is part of U-Haul's commitment to community development, including the hiring of at least 20 local team members.

U-Haul has acquired 20 acres in Bozeman, Montana, for a new retail, moving, and self-storage facility, scheduled for completion in 2024. The multi-story building will feature over 100,000 square feet and at least 800 climate-controlled self-storage units with high-tech security. This expansion aligns with U-Haul's growth strategy and aims to cater to the increasing storage needs in Bozeman. The project also promises local job creation and supports community businesses through partnerships with independent U-Haul dealers.

As high fuel prices continue to impact families, U-Haul presents itself as a cost-effective moving solution during the peak summer moving season. With 45% of annual residential moves occurring between Memorial Day and Labor Day, U-Haul's base rental rates remain unchanged, appealing to budget-conscious customers. U-Haul operates over 23,000 rental locations across North America, minimizing travel and fuel costs. Their fuel-efficient truck designs, including aerodynamic features, can improve fuel economy by up to 25%. Customers can reserve equipment conveniently through uhaul.com.

U-Haul is enhancing employee retention through its commitment to health and wellness. The center of this initiative, the Shoen Family Conference & Fitness Center in Phoenix, Ariz., supports over 1,800 employees. The 54,208-square-foot facility includes a full-size basketball court, a massive workout area, indoor track, yoga classes, and telehealth services. U-Haul aims to attract job candidates by emphasizing wellness benefits that resonate with employees' values. The company employs about 30,000 individuals and serves millions of families annually.

The Shoen family of U-Haul has funded an elevator for the historic Ford Island Control Tower at Pearl Harbor, which opens to the public on Memorial Day. This restoration project, costing over $7 million, allows visitors access to a panoramic view of America's WWII aviation battlefield from the observation deck. The opening honors those who died during the December 7, 1941 attack. Joe Shoen will lead a dedication ceremony, celebrating veterans and the tower's significance in preserving history.

AMERCO (Nasdaq: UHAL) reported a significant increase in net earnings for the fiscal year ended March 31, 2022, totaling $1,123.3 million, or $57.29 per share, up from $610.9 million, or $31.15 per share last year. For Q4, net earnings were $86.7 million, or $4.42 per share, compared to $73.8 million, or $3.76 per share last year. Revenue from self-moving equipment rentals rose 12% in Q4 and 28% for the year, while self-storage revenues increased 28% in Q4 and 29% for the year. However, operating costs rose significantly due to inflation and rising maintenance expenses.