U-Haul Parent Company AMERCO Reports 2Q 2011 Financial Results
|Copyright 2014 by Virgo Publishing.|
|Posted on: 11/04/2011|
AMERCO, parent of U-Haul International Inc., Oxford Life Insurance Co., Repwest Insurance Company and Amerco Real Estate Co., reported the company’s net earnings available to common shareholders for the second quarter ending Sept. 30.
Net earnings are $101.2 million, or $5.20 per share, compared with net earnings of $82 million, or $4.22 per share, for the same period last year. For the six-month period ending Sept. 30, net earnings available to common shareholders was $170.4 million, or $8.75 per share compared with net earnings of $145.3 million, or $7.48 per share, for the same period last year.
"We are pleased to report continued revenue and earnings growth," said Chairman Joe Shoen. "Efforts to optimize the asset mix within our business have yielded excellent results. Our goal now is to continue our effectiveness through the traditionally slower fall and winter quarters.”
Other highlights include:
AMERCO held an investor call to discuss the second-quarter results on Nov. 3. A simulcast of the call is available on the company’s website.
Founded in 1945, U-Haul has a network of more than 16,300 locations in all 50 states and 10 Canadian provinces. The company has more than 417,000 self-storage units and approximately 37.1 million square feet of storage space at nearly 1,115 owned and managed facilities throughout North America.