U-HAUL HOLDING Reports FY2024 Q1 Earnings Results for June 30 2023
August 11, 2023
🌥️Earnings Overview
U-HAUL HOLDING ($NYSE:UHAL.B) reported their financial results for the first quarter of FY2024 which ended on June 30th 2023, on August 9th 2023. The company had a total revenue of USD 1540.3 million, a decrease of 3.6% compared to the same period last year. Similarly, net income for Q1 showed a decrease of 23.1%, coming to USD 256.8 million.
Share Price
On Wednesday, U-HAUL HOLDING reported their first quarter earnings results for June 30 2023. At the opening of trading, U-HAUL HOLDING stock opened at $55.9 and closed at $54.5, a decrease of 2.6% from the prior closing price of $55.9. The company is now facing increased pressure from investors to reduce costs and increase revenue amidst the challenging economic climate. Despite the weak financial performance, U-HAUL HOLDING is still committed to its long-term growth strategy.
Management has indicated that they will continue to focus on expanding its online services and leveraging new technologies to better serve their customers. Overall, U-HAUL HOLDING’s FY2024 Q1 earnings results have dampened investor sentiment. Nonetheless, the company’s commitment to growth and expansion will likely result in improved financial results in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for U-haul Holding. More…
| Total Revenues | Net Income | Net Margin |
| 5.81k | 810.51 | 14.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for U-haul Holding. More…
| Operations | Investing | Financing |
| 1.54k | -2.23k | -28.36 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for U-haul Holding. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 18.61k | 11.84k | 34.57 |
Key Ratios Snapshot
Some of the financial key ratios for U-haul Holding are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.3% | 39.1% | 23.1% |
| FCF Margin | ROE | ROA |
| -22.5% | 12.6% | 4.5% |
Analysis
GoodWhale has analyzed the financials of U-HAUL HOLDING, and based on our Star Chart, the company is strong in profitability, and medium in asset, dividend, and growth. Furthermore, U-HAUL HOLDING is classified as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. As such, we believe that defensive investors who are looking for capital preservation may be interested in investing in this company. Additionally, GoodWhale’s health score for U-HAUL HOLDING is 6 out of 10, which indicates that the company is likely to remain financially healthy even in times of crisis. More…
Summary
U-HAUL HOLDING‘s FY2024 Q1 earnings report for the period ending June 30 2023 saw total revenue decrease by 3.6% year over year to USD 1540.3 million. Net income for the quarter decreased by 23.1% to USD 256.8 million from the same period a year ago. Investors should take into account the declining sales and profits when considering investing in U-HAUL HOLDING.
Additionally, the company faces increased competition in the moving rental market which may impact future earnings. Furthermore, a slowdown in the US economy may also have a negative effect on U-HAUL’s performance, warranting further research before investing.
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