Vintage Trailer

AMERCO Reports Third Quarter Fiscal 2017 Financial Results

February 8, 2017 Download

RENO, Nev. (February 8, 2017)--AMERCO (Nasdaq: UHAL), parent of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company, today reported net earnings available to shareholders for its third quarter ended December 31, 2016, of $65.2 million, or $3.33 per share, compared with net earnings of $81.8 million, or $4.17 per share, for the same period last year.

For the nine-month period ended December 31, 2016, net earnings available to shareholders were $388.9 million, or $19.85 per share, compared with net earnings of $436.4 million, or $22.27 per share, for the same period last year. Included in the results for the nine-month period ended December 31, 2016, was an after tax benefit of $0.79 per share associated with our settlement of the PEI litigation that resulted in a reduction in operating expenses of $24.6 million. Excluding this after tax benefit, adjusted earnings were $19.06 per share for the nine-month period ended December 31, 2016.

"Revenue gains in our core rental business were driven by transaction growth," stated Joe Shoen, chairman of AMERCO. “I am greatly encouraged by the Trump administration and since the inauguration have committed to 3,000 additional built-in-America Ford trucks. I expect growth to accelerate and I want U-Haul ready to serve customers moving to a new job or improved living arrangements.”


Address
5555 Kietzke Lane
Suite 100
Reno, Nevada 89511

Phone
Director of I.R.
Sebastien Reyes
(602) 263-6601

Email
investor_relations@amerco.com

Certain of the statements made on this Web site regarding our business constitute forward-looking statements contemplated under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those anticipated as a result of various risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof. The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law.

Copyright 2017 AMERCO | 2.1.1 Release