Why U-Haul Stock Was Down This Week
U-Haul Holding (NYSE: UHAL) missed Wall Street expectations on earnings, and the company reported sluggishness throughout its business. Investors packed up and left, sending shares of the truck rental and self-storage company down about 18% for the week, according to data provided by S&P Global Market Intelligence, as of Thursday afternoon.
U-Haul does best when America is on the move, and the slowdown in housing has apparently taken its toll on the company's results. On Wednesday, U-Haul reported earnings of $0.16 for its fiscal fourth quarter ending March 31, missing estimates by $0.38.
Revenue came in at $1.19 billion, slightly below expectations and down from $1.123 billion for the same period a year ago. Management said the business is normalizing after an impressive few years of gains.
Source Fool.com
