AMERCO, the parent company of U-Haul International Inc., reported financial results for the quarter that ended Dec. 31, the third quarter of its 2015 fiscal year. Self-storage revenue increased $7.4 million during the quarter, compared with the third quarter of fiscal 2014. The additional revenue was generated by occupancy improvements at existing locations as well as continued acquisition activity, according to a company press release. Over the last 12 months, AMERCO has added approximately 1.8 million net rentable square feet of storage space to its portfolio.
Companywide, AMERCO reported net earnings available to common shareholders for its third quarter of $66.5 million, or $3.40 per share, compared with net earnings of $52.2 million, or $2.67 per share, for the same period last year. For the nine-month period ended Dec. 31, net earnings available to common shareholders were $347.3 million, or $17.73 per share, compared to $303.2 million, or $15.50 per share, for the same period in 2014.
“Investments made in additional storage rooms, rental trucks, rental trailers and electronic tools continue to bear fruit," said Joe Shoen, chairman. "U-Haul is benefiting from interest rates, fleet increases, storage-occupancy increases and a robust truck-resale market.”
The company held its investor call for the third quarter of fiscal 2015 on Feb. 5. A replay can be accessed by visiting the “Events and Presentations” area of AMERCO.com.
AMERCO is the parent company of U-Haul International, Oxford Life Insurance Co., Repwest Insurance Co. and Amerco Real Estate Co. Established in 1945, U-Haul has 40 million square feet of storage space at more than 1,000 owned and managed facilities throughout North America.