U-Haul Holding Company Reports Second Quarter Fiscal 2024 Financial Results

November 8, 2023 Download

RENO, Nev. (November 8, 2023)-- U-Haul Holding Company (NYSE: UHAL, UHAL.B), parent of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company, today reported net earnings available to common shareholders for its second quarter ended September 30, 2023, of $273.5 million, compared with net earnings of $349.9 million for the same period last year. Earnings per share for Non-Voting Shares (UHAL.B) were $1.40 for the second quarter of fiscal 2024 compared to $1.73 for the same period in fiscal 2023.

For the six-month period ended September 30, 2023, net earnings available to shareholders were $530.3 million compared with net earnings of $688.2 million for the same period last year. Earnings per share for Non-Voting Shares (UHAL.B) were $2.71 for the six-month period ended September 30, 2023 compared to $3.41 for the same period in fiscal 2023.

“Overall moving activity remains below the same period last year. This affects most of our product lines,” stated Joe Shoen, chairman of U-Haul Holding Company. “We are close to stabilizing In-town moving transactions by better inventory placement. This is slow going, but there are some gains available where inventory is optimized. Implementation of existing programs is our best choice at this time.”