Amerco Earnings Cheat Sheet: Profit and Revenue Both Grow

Amerco (NASDAQ:UHAL) reported its results for the first quarter. The company is North America’s ‘do-it-yourself’ moving and storage operator through its subsidiary U-Haul International, Inc.

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Amerco Earnings Cheat Sheet for the First Quarter

Results: Net income for Amerco rose to $78.2 million ($3.56 per share) vs. $66.5 million ($3.26 per share) in the same quarter a year earlier. This marks a rise of 17.6% from the year earlier quarter.

Revenue: Rose 9.7% to $643 million from the year earlier quarter.

Actual vs. Wall St. Expectations: The mean estimate for UHAL was $3.69 per share. It beat the average revenue estimate of $616 million.

Quoting Management: “Our focus on the long-term improvement in our core moving and storage programs continues, we are implementing programs today that will benefit the Company well into the future,” stated Joe Shoen, chairman of AMERCO. “While we view our business cycle as much longer than just quarter to quarter, we are currently experiencing positive results that are due in part to decisions made years ago.”

Key Stats:

Revenue has risen the past four quarters. Revenue increased 10% to $488.4 million in the fourth quarter of the last fiscal year. The figure rose 14.3% in the third quarter of the last fiscal year from the year earlier and climbed 11.9% in the second quarter of the last fiscal year from the year-ago quarter.

Competitors to Watch: Avis Budget Group Inc. (NYSE:CAR), Zipcar Inc (NASDAQ:ZIP), Ryder System, Inc. (NYSE:R), Express-1 Expedited Solutions Inc. (AMEX:XPO), Hertz Global Hldgs., Inc. (NYSE:HTZ), Landstar System, Inc. (NASDAQ:LSTR), Patriot Transportation Holding, Inc. (NASDAQ:PATR).

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(Source: Xignite Financials)