AMERCO Reports Second Quarter Fiscal 2020 Financial Results
November 6, 2019 Download
RENO, Nev. (November 6, 2019)--AMERCO (Nasdaq: UHAL), parent of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company, today reported net earnings available to shareholders for its second quarter ended September 30, 2019, of $156.3 million, or $7.97 per share, compared with net earnings of $163.5 million, or $8.35 per share, for the same period last year.
For the six-month period ended September 30, 2019, net earnings available to shareholders were $288.7 million, or $14.73 per share, compared with net earnings of $291.4 million, or $14.87 per share, for the same period last year.
“We continued to fill self-storage rooms during the quarter while also adding new locations to the portfolio,” stated Joe Shoen, chairman of AMERCO. “Growth in the fleet has led to additional depreciation and maintenance costs. We have not realized the truck and trailer revenue we expected from this investment. I am working to resolve this, but improvement will likely come slowly.”