U-Haul reports Q3 net loss of $37 mln

Reuters
Feb 05
<a href="https://laohu8.com/S/UHAL">U-Haul</a> reports Q3 net loss of $37 mln

Overview

  • Moving and storage company's Q3 net income fell to a $37 mln loss

  • Self-storage revenues rose 7.9% yr/yr in Q3

Outlook

  • U-Haul expects fleet depreciation losses to bottom out this calendar year

  • Company aims to improve market penetration in U-Move segment

  • U-Haul sees potential growth in underutilized fleet and self-storage capacity

Result Drivers

  • SELF-STORAGE REVENUE GROWTH - Self-storage revenues increased 7.9% yr/yr, driven by new locations and increased revenue per foot

  • UNDERUTILIZED CAPACITY - Company reported underutilized capacity in both fleet and self-storage, affecting earnings

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

-$0.23

Q3 Net Income

-$37 mln

Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the ground freight & logistics peer group is "buy."

  • Wall Street's median 12-month price target for U-Haul Holding Co is $74.00, about 28.6% above its February 3 closing price of $57.53

  • The stock recently traded at 63 times the next 12-month earnings vs. a P/E of 83 three months ago

Press Release: ID:nBw48d8Hma

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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