U-Haul annual profit plunges on fleet depreciation and disposal losses
U-Haul's annual net earnings fell sharply to $83.1 million from $367.1 million, driven by a $186.6 million increase in rental truck depreciation and $117.6 million in disposal losses for the year.
Key facts
- Net earnings dropped to $83.1 million from $367.1 million
- Rental truck depreciation rose by $186.6 million
- Disposal losses amounted to $117.6 million for the year
Entities
Institutions
- U-Haul
Sources
- Quartz —