AMERCO (UHAL) Wednesday reported a higher fourth-quarter profit, on growth at its main subsidiary, U-Haul International Inc.
AMERCO, through its subsidiary, U-Haul International Inc., supplies products and services to facilitate people move and store their household and commercial goods. AMERCO also operates in the insurance and real estate businesses.
The Reno, Nevada-based company posted quarterly net income to common shares of $37.9 million or $1.93 a share, up from $25 million or $1.29 a share last year.
Revenues for the quarter rose to $564 million from $525.7 million a year ago.
At its main self-moving equipment rental business, revenue for the quarter grew 6.6 percent, compared with last year, and self-storage revenues were up 17.7 percent.
Life insurance premiums for the quarter declined by about $7 million, while net investment and insurance income was higher by $10 million.
AMERCO closed Wednesday at $170.73, down 1.03%, on a volume of 40 thousand shares on the Nasdaq.
For comments and feedback: editorial@rttnews.com