U-Haul Holding Company

Latest Results (13.11.2025):

U-Haul Holding Company reported its second quarter fiscal 2026 financial results ending September 30, 2025, with net earnings available to common shareholders of $105.6 million, down from $186.8 million in the same quarter last year. Earnings per share for Non-Voting Shares dropped from $0.96 to $0.54, amid increased fleet depreciation expenses and significant losses on the sale of retired equipment. Despite these challenges, various revenue streams—including self-storage and self-moving equipment rentals—showed improvement, and operating EBITDA figures for the Moving and Storage segment demonstrated healthy growth.

Net Earnings and EPS Decline

For the second quarter fiscal 2026, U-Haul Holding Company recorded net earnings of $105.6 million, compared to $186.8 million in the corresponding quarter of fiscal 2025. Earnings per share for Non-Voting Shares fell from $0.96 to $0.54.

Operational Pressures

The decline in earnings was impacted by an $83.3 million drop in Moving and Storage earnings from operations, driven largely by increased losses from the disposal of retired rental equipment ($56.1 million) and a rise in fleet depreciation expense ($50.6 million) versus the prior year.

EBITDA Growth

Despite lower net earnings, Moving and Storage EBITDA increased by $31.6 million to $542.6 million in the quarter, with trailing twelve-month EBITDA also rising by $115.5 million to $1,681.9 million, indicating solid underlying operational performance.

Self-Storage and Equipment Rental Performance

Self-storage revenues grew by $21.8 million (9.7%), even as same-store occupancy dipped slightly, while self-moving equipment rental revenues saw a modest increase of $23.1 million (2.1%) over the previous fiscal period.

Dividend Declaration

On August 21, 2025, U-Haul Holding Company declared a cash dividend of $0.05 per Non-Voting Common Share, paid on September 26, 2025.