By Sabela Ojea
U-Haul Holding logged lower profit in its fiscal third quarter, but said revenue rose amid self-moving equipment rental and self-storage growth.
The parent company of U-Haul International, Oxford Life Insurance Company, Repwest Insurance and Amerco Real Estate, on Wednesday posted a net profit for the three months ended Dec. 31 of $67.2 million, or 30 cents a share, compared with $99.2 million, or 46 cents a share, for the same period a year earlier. Analysts polled by FactSet had forecast earnings of 35 cents.
Revenue rose 3.7% to $1.39 billion, beating the $1.35 billion expected by Wall Street.
The company said that self-moving equipment rental revenue rose to $878.6 million from $839.8 million a year ago, with self-storage revenue rising to $227.1 million from $210.5 million.
"Moving activity increased over the quarter as demand for our products and services ticked up," Chief Executive Joe Shoen said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 05, 2025 17:18 ET (22:18 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.