AMERCO REPORTS FISCAL 2013 FINANCIAL RESULTS
June 5, 2013 Download
Reno, Nev., (June 5, 2013) 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 common stockholders for the year ended March 31, 2013 were $264.7 million, or $13.56 per share, compared with $196.5 million, or $10.09 per share for the same period last year. Included in the prior year results for March 31, 2012, was an after-tax charge of $1.61 per share associated with Repwest’s third quarter excess workers’ compensation reserve strengthening. Excluding this after-tax charge, adjusted earnings were $11.70 per share for the year ended March 31, 2012.
For the quarter ended March 31, 2013, the Company reported net earnings available to common stockholders of $37.9 million, or $1.93 per share, compared with net earnings of $25.4 million, or $1.29 per share for the same period last year.
“U-Haul employees, dealers and affiliates are to be commended for the company’s strong performance over the last year,” stated Joe Shoen, Chairman of AMERCO. “We continue our focus on improving the rental experience for our customers through convenient access to our rental locations, equipment availability and ease of the rental process,” concluded Shoen.