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U-Haul Q1 Earnings Call Highlights
['Danessa Lincoln']
Markets Daily
CFO Jason Berg said equipment rental revenue increased by $29 million from the prior-year period, with transactions and revenue rising in both the In-Town and One-Way markets.
While rental revenue advanced, Berg said average revenue per transaction did not improve across all measures.
In One-Way rentals, transaction growth outpaced revenue growth on a percentage basis, and revenue per mile declined during the past two quarters.
Storage revenue grows, while occupancy remains lowerStorage revenue increased $16 million, or about 7%, during the quarter.
Fleet investment, equipment sales and share repurchasesCapital expenditures for new rental equipment totaled $602 million, up $17 million year over year.