Amerco Profit Plunges On Charges

(RTTNews) - Amerco (UHAL) on Wednesday reported fourth-quarter net earnings of $9.5 million or $0.47 per share compared with $39.2 million or $2.00 per share last year.

Results for the 2015 quarter included an after-tax expense of $1.96 per share associated with fourth quarter accrual of $60.7 million for the PEI litigation, the company said.

Excluding items, adjusted earnings for the quarter were $2.43 per share.

Revenues for the quarter rose to $642.7 million from $601.7 million a year ago.

Amerco is the parent company of rental company U-Haul International Inc, Oxford Life Insurance Co, Repwest Insurance Co and Amerco Real Estate Co.