Haul Q2 adjusted EPS misses estimates despite higher net income

Overview

• US moving and storage provider's fiscal Q2 net earnings rose yr/yr

• Adjusted EPS for fiscal Q2 missed analyst expectations

• Company repurchased shares totaling $78.3 mln in fiscal Q2

Outlook

• Company did not provide specific financial guidance for the current quarter or full year in its press release

Result Drivers

• SELF-STORAGE GROWTH - Co said self-storage revenues rose 6.4% yr/yr, driven by higher revenue per foot and new locations

• EQUIPMENT RENTALS - Co said higher self-moving equipment rental revenues were supported by more transactions and expanded fleet

• LOWER DEPRECIATION COSTS - Co reported reduced fleet depreciation expense and lower losses on equipment disposals

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the ground freight & logistics peer group is "buy"

• Wall Street's median 12-month price target for U-Haul Holding Company is $82.00, about 38.7% above its November 3 closing price of $59.13

• The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 48 three months ago

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)