Welcome to our dedicated page for U-Haul Holding news (Ticker: UHAL), a resource for investors and traders seeking the latest updates and insights on U-Haul Holding stock.
U-Haul Holding Company reports developments tied to its do-it-yourself moving, self-storage and insurance businesses. Company announcements commonly cover U-Haul International's truck, trailer and U-Box container services, storage-facility openings, self-storage pricing programs, disaster-relief storage offers and customer access tools such as U-Haul Truck Share 24/7.
Updates also include quarterly financial results, dividends on Series N Non-Voting Common Stock, fleet and storage-capacity commentary, and items involving subsidiaries such as Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company. The recurring disclosures connect U-Haul's moving and storage network with related propane, trailer-hitch, packing-supply and insurance operations.
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.
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.