U-Haul’s parent company U-Haul Holding Company is set to capture investor attention when it hands down its first quarter fiscal 2024 financial results after the market close on Wednesday, August 9.
After posting a significant drop in profit for 4Q fiscal 2022 on reduced self-moving equipment rental revenue, investors will be on the lookout for signs that the company is rebounding amid a challenging economic environment and rising competition within the transportation sector.
But this doesn’t seem likely with the company, which is also the parent of Amerco Real Estate Company, Oxford Life Insurance Company and Repwest Insurance Company, expected to post earnings per share of $1.43, down from $17.03 in the year-ago quarter.
Revenue, according to Zacks Consensus Estimate, is also expected to decline year-over-year from $1.59 billion to $1.58 billion.
U-Haul shares traded at US$58 on Tuesday afternoon. The stock is down 2.6% in the year to date.
Contact the author at emily.jarvie@proactiveinvestors.com
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