UHAL News & Events

Reports Q4 revenue $1.27B vs. $1.23B last year. "This is the second time in recent years we have had a real loss in this quarter," stated Joe Shoen, Chairman of U-Haul Holding Company. "The issues with loss on disposal of rental equipment are working themselves through. CapEx on rental trucks will likely be down this time next year helping moderate fleet depreciation. Liability cost growth will normalize, continuing to vary with fleet size and growing with inflation. We are pushing a bow wave of costs associated with built but not rented storage units. These are well located and will rent. Construction of additional storage units has been declining for several months, but until we rent more than we add, these costs will remain an increasing drain. We are increasing our dealer locations in both the US and Canada to better serve the customer. Our relations with our customer base remain solid."

The U-Haul "Easy Mover" truck with a 29-foot-long cargo space "arrives just in time" for the busy summer moving season. The Easy Mover marks the first collaboration between U-Haul and Peterbilt. The cargo area is able to accommodate the household goods of most 4- to 6-bedroom homes.

Reports Q3 revenue $1.42B, consensus $1.44B. "We continue to undermine earnings with fleet depreciation and poor resale results. I expect that this will bottom out this calendar year," stated Joe Shoen, Chairman of U-Haul Holding Company. "We have underutilized capacity in both fleet and self-storage. I anticipate improving market penetration in U-Move. Today, we are even with our self-storage peers and need to set ourselves apart to impact top line revenue. As always, the customer will determine the winners and losers."