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.
News for U-Haul Holding Company (NYSE: UHAL, UHAL.B) centers on its Moving and Storage operations, insurance subsidiaries and capital markets activity. As the parent of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company, the company issues regular updates through press releases and SEC-referenced announcements.
Investors and observers can expect coverage of quarterly and semiannual financial results, where U-Haul Holding Company reports revenues and earnings from operations by segment, discusses trends in self-moving equipment rental, self-storage performance, U-Box container growth and key cost items such as fleet depreciation and maintenance. These releases also highlight cash and credit availability, debt metrics and adjusted EBITDA for the Moving and Storage segment.
Another recurring category of news involves the U-Haul Growth Index, which ranks U.S. states, metropolitan areas and cities based on net gains or losses of one-way U-Haul customers. These stories identify top growth states like Texas and Florida in specific years, leading metros such as Dallas-Fort Worth-Arlington, and growth cities such as Ocala, Florida, using transaction data from millions of one-way rentals across the U.S. and Canada.
Company communications also frequently describe community-focused initiatives, including offers of 30 days of free self-storage and U-Box container usage in areas affected by flooding and other natural disasters. Additional news items may cover network developments such as the opening or closure of repair shops, job creation at new facilities, participation in investor conferences, and announcements of dividends on the company’s non-voting common stock.
By following this news feed, readers can monitor U-Haul Holding Company’s operating trends, geographic migration insights, disaster relief efforts and corporate actions in one place.
U-Haul is expanding its self-storage services in Annapolis, Maryland, by acquiring a 3.95-acre property that adds 44,139 square feet and 908 storage units. This strategic move addresses the high demand for self-storage in the area, influenced by the transient population associated with the U.S. Naval Academy. The expansion will lead to new job openings, with a focus on hiring locally, including veterans. U-Haul has been operating in Annapolis since 2019 and aims to enhance its customer offerings as an essential service during COVID-19 recovery.
Humble Design Chicago is focusing on veterans this November, providing essential furnishing services to assist homeless veterans transition to stable housing. Highlighting its commitment, the organization will aid disabled veteran Odell Johnson on Veterans Day, helping him rebuild his life after facing homelessness. Humble Design's efforts have helped 99% of its clients escape homelessness, showcasing a successful model since servicing 2,000 families since its inception. Notably, U-Haul is a national sponsor, facilitating this initiative, alongside local support from Jewel-Osco.
AMERCO (Nasdaq: UHAL) reported strong second-quarter earnings for fiscal 2022, with net earnings of $409.9 million, or $20.90 per share, up from $266.4 million, or $13.58 per share, year-over-year. For the six-month period, net earnings reached $755.1 million, or $38.51 per share, significantly higher than the previous $354.1 million. Revenue from self-moving equipment rentals increased by 27% to $1.16 billion, while self-storage revenues rose by 33%. Additionally, the company secured $600 million in fixed-rate senior unsecured notes to bolster its financial strength.
U-Haul has purchased six acres in Las Cruces to develop a new self-storage facility, scheduled for completion in 2023. The facility will feature over 85,000 square feet of indoor storage, with 600 climate-controlled units and advanced security. This move responds to increasing demand in the area, known for its appeal to retirees. The Northrise location will also offer U-Box portable storage and additional moving supplies. U-Haul emphasizes community employment and intends to prioritize local hires, particularly veterans, as part of its staffing strategy.
U-Haul at Yale Ave. in Tulsa, Oklahoma has permanently closed after 38 years of operation. Opened in 1983, the store provided truck rentals, moving supplies, and other services. Customers are directed to the nearby U-Haul Moving & Storage of Midtown for all their needs. This facility offers extensive services including climate-controlled storage and professional hitch installations. The closure reflects strategic business decisions by U-Haul, driven by factors such as shifting demographics and consolidation of services. One employee was let go due to this closure.
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U-Haul will transform a former Kmart building at 1500 Charleston Hwy., West Columbia, into over 700 indoor climate-controlled self-storage rooms to address rising customer demand. This adaptive reuse project involves a 100,984-square-foot facility, emphasizing U-Haul's commitment to sustainability by reducing the environmental impact associated with new constructions. The facility will offer high-tech security, affordable pricing, and extended access hours. U-Haul plans to hire at least 12 local team members, further contributing to community growth.
U-Haul plans to convert a two-story building at 2012 McHenry Ave. in Modesto into a self-storage facility. The project will create around 500 indoor climate-controlled storage rooms and a warehouse for U-Box® containers. The building was acquired on Oct. 5, 2021, to address increasing demand in the area. U-Haul emphasizes sustainability by repurposing existing structures to reduce energy use. This initiative is part of U-Haul's commitment to community investment and support during the COVID-19 recovery phase.
AMERCO (Nasdaq: UHAL) will report its second quarter fiscal 2022 financial results on November 3, 2021, after market close. An investor conference call is scheduled for November 4, 2021, at 8 a.m. Arizona Time (11 a.m. ET). The conference call may include forward-looking statements and will be archived for one year on the company's website. U-Haul, a subsidiary of AMERCO, operates over 23,000 locations across North America and offers a large fleet of trucks, trailers, and self-storage facilities.
U-Haul is set to open a new retail, moving, and self-storage facility in Gillette, Wyoming by 2023. The three-story structure will cover over 100,000 square feet and feature more than 700 climate-controlled self-storage rooms equipped with advanced security features. Currently, the nearest U-Haul facility is over 100 miles away in Casper. This development aims to meet increasing customer demand in the rapidly growing Gillette community, which has doubled in size in the past decade. U-Haul also plans to hire locally, promoting job growth in the area.