U-Haul Quarterly Report Posted on CNNMoney

August 10th, 2007

In case you wondered, big media is following big storage.
AMERCO, parent of U-Haul International, got some ink in the form of a press release posted on CNNMoney. The company reported net earnings for its first quarter ending June 30, 2007, of $38.5 million, or $1.93 per share, compared with net earnings of $52.2 million, or $2.50 per share, for the same period last year. That’s not a particularly shiny, happy report, but at least the head honcho got an opportunity to get his plan out.
“Our team is focused on improving operations for future growth and profitability. We have implemented a rate system as well as a new repair diagnostic system. We expect to see a positive impact from both of these initiatives. I am obviously disappointed with the results for the quarter. Self-storage continues on plan through expansion at existing locations, development of new properties and growth of our self-storage affiliate program,” stated Joe Shoen, chairman of AMERCO.

For better or worse, self-storage will get more and more attention. Shoen spun the poor earnings report news like a veteran. The rest of the industry should follow his lead: honest, upfront, and with a clear vision for the future.

Entry Filed under: Crisis Communications, Industry Happenings