AMERCO Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2017; Provides Effective Tax Rate Guidance for the Fiscal Years 2018 and 2019
February 07, 2018 at 04:10 pm EST
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AMERCO announced unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2017. For the quarter, the company reported total revenues of $842,882,000 compared to $790,455,000 a year ago. Earnings from operations were $303,137,000 compared to $131,981,000 a year ago. Pretax earnings were $271,579,000 compared to $102,700,000 a year ago. Earnings available to common shareholders were $528,894,000 or $27.00 per basic and diluted share compared to $65,228,000 or $3.33 per basic and diluted share a year ago.
For the nine months, the company reported total revenues of $2,843,493,000 compared to $2,712,331,000 a year ago. Earnings from operations were $761,549,000 compared to $698,518,000 a year ago. Pretax earnings were $667,623,000 compared to $614,822,000 a year ago. Earnings available to common shareholders were $779,740,000 or $39.81 per basic and diluted share compared to $388,876,000 or $19.85 per basic and diluted share a year ago. For the first nine months of fiscal 2018 compared with the first nine months of fiscal 2017 gross truck and trailer capital expenditures were $788 million and $870 million, for the first nine months of fiscal 2018 compared with the first nine months of fiscal 2017 proceeds from sales of rental equipment were $389 million compared with $403 million and spending on real estate related acquisitions and projects were $400 million compared with $378 million.
The company expects blended GAAP effective tax rate for the twelve months of fiscal 2018 will be approximately 34.3% and 24.3% for fiscal 2019.
U-Haul Holding Company is a do-it-yourself moving and storage operator through its subsidiary U-Haul International, Inc. (U-Haul). The Companyâs primary focus is to provide its customers with a selection of moving rental equipment, convenient self-storage rental facilities and portable moving and storage units and related moving and self-storage products and services. The Companyâs segments include Moving and Storage, Property and Casualty Insurance and Life Insurance. The Moving and Storage segment consists of the rental of trucks, trailers, portable moving and storage units, specialty rental items and self-storage spaces to the household mover, as well as sales of moving supplies, towing accessories and propane. Its Property and Casualty Insurance segment provides loss adjusting and claims handling for U-Haul through regional offices across the United States and Canada. Life Insurance provides life and health insurance products primarily for the senior market.
AMERCO Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2017; Provides Effective Tax Rate Guidance for the Fiscal Years 2018 and 2019