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 offering free safety inspections on propane cylinders at over 1,100 locations ahead of Independence Day celebrations. Propane sales typically increase around this holiday, prompting U-Haul to encourage customers to take advantage of these inspections to ensure safe BBQ gatherings. Each propane cylinder is qualified for 12 years, with inspections helping to verify their safety. Customers may either requalify their tanks or purchase new ones. U-Haul emphasizes safety and sustainability, reflecting on the rising demand for propane during the COVID-19 pandemic.
U-Haul of Forest Park in Kenosha has permanently closed after 44 years of service as of June 24, 2021. The facility, operational since 1977, was sold to Grasscape Landscaping of Wisconsin. Customers can access U-Haul services just 1.5 miles away at the newly renovated U-Haul Moving & Storage of Kenosha. This location offers various moving and storage solutions, including climate-controlled storage units. U-Haul's recent closure reflects strategic business decisions influenced by market changes, resulting in the layoff of three employees.
U-Haul Co. of West Virginia has filed for voluntary Chapter 11 bankruptcy protection as of June 16, 2021, due to ongoing challenges including management turnover and high litigation costs, which have hindered cash flow. The company will continue operations without interruption, maintaining service to customers and supporting employees. The restructuring process follows a previous internal commitment to enhance its business and is backed by U-Haul International, which is negotiating a capital infusion to support the reorganization.
On June 9, 2021, AMERCO (Nasdaq: UHAL) declared a special cash dividend of $0.50 per share, payable on July 8, 2021, to shareholders on record as of June 24, 2021. This announcement reflects the company's robust financial standing and commitment to returning value to shareholders. AMERCO operates several subsidiaries, including U-Haul, which has established itself as a leader in the do-it-yourself moving industry since its inception in 1945.
U-Haul is set to host a grand opening for its new retail and indoor self-storage facility at Peach Street Marketplace in Erie, PA, on June 5. The event will run from 10 a.m. to 2 p.m. and will feature various festivities, including local food trucks and a live DJ. Attendees will also witness the reveal of the HAPPI Home Update contest winner, who will receive a prize package worth over $12,000, including a year's free storage. The facility boasts 748 indoor storage units and includes advanced security and climate-control options. This location marks one of three new U-Haul stores in Erie.
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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.
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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.