U-Haul Holding Company Stock Price, News & Analysis

AMERCO (Nasdaq: UHAL) reported a net earnings increase to $610.9 million, or $31.15 per share, for the fiscal year ending March 31, 2021, compared to $442.0 million, or $22.55 per share, in the previous year. The fourth quarter earnings were $73.8 million, or $3.76 per share, down from $122.4 million, or $6.24 per share, year-over-year. Self-moving equipment rental revenues surged 33% in Q4 and 15% for the year. Self-storage revenues rose 19% in Q4 and 14% annually. Despite challenges in capital expenditures, operational performance improved significantly, reflecting strong customer demand.

U-Haul is providing 30 days of free self-storage to residents in southeast Texas and southwest Louisiana affected by recent storms and severe flooding. This initiative involves five facilities located in Texas and Louisiana, aiming to support families who have suffered damage or loss of property. The flooding has severely impacted areas like Beaumont and Baton Rouge, causing road closures and necessitating rescues. U-Haul emphasizes its commitment to community aid, and impacted residents can reach out to local facilities for assistance.

AMERCO (Nasdaq: UHAL), the parent company of U-Haul, will release its fourth quarter fiscal 2021 financial results on May 26, 2021, after market close. An investor conference call and webcast is scheduled for May 27, 2021, at 8 a.m. Arizona Time (11 a.m. ET). These events may include forward-looking statements. The financial results will provide insights into U-Haul's performance in the DIY moving and self-storage industry, which serves a vast customer base across North America.

U-Haul is providing 30 days of free self-storage for residents affected by the Tussock Fire in Crown King, Arizona, following recent evacuation orders. The fire, which started recently, has prompted concerns for personal belongings, leading U-Haul to assist those in need at their Wickenburg location. U-Haul is also recognized as an official American Red Cross Disaster Responder and continues to serve communities during COVID-19 with contactless programs. The company operates 22,000 locations and offers nearly 774,000 storage units across North America.

U-Haul has acquired 4.49 acres in Goodyear, Arizona, for a new moving and self-storage facility, set to open in 2022. The $100 million project includes a three-story building of over 100,000 square feet, offering 700+ climate-controlled storage units and high-tech security. U-Haul aims to meet the growing demand from the area's expanding population. The facility will provide essential services, including truck rentals and moving supplies. U-Haul plans to hire at least 10 local team members, emphasizing job growth and community support.

U-Haul plans to transform the former Capitol Archives & Record Storage building in Hartford into a modern self-storage facility. The site, acquired on March 25, will feature 87,387 square feet of storage space with high-tech security and climate-controlled units. Renovations are expected to finish this summer. The company aims to address local demand for storage options while enhancing sustainability through adaptive reuse. U-Haul will also create at least 10 new jobs and continue its commitment to local hiring, particularly focusing on veterans.