| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 1.7K | 641.1% | 3.7% |
| Total Income | 1.7K | 641.1% | 3.7% |
| Expenditure | 1.5K | 9.4% | 10.8% |
| PBT | 136.96 | 26.1% | 44.4% |
| Net Profit | 105.55 | 25.8% | 43.5% |
| OPM | 12.65% | 87.35pp | 5.56pp |
| NPM | 6.14% | 55.20pp | 5.13pp |
| EPS | — |
U-Haul Holding Company Reports Q2 FY26 Financial Results
04 May 2026 · 4 May, 7:56 am
Summary
U-Haul Holding Company reported net earnings available to common shareholders for Q2 FY26 of $105.6 million, a decrease from $186.8 million in the same period last year. Earnings per share for Non-Voting Shares were $0.54, down from $0.96 in Q2 FY25. For the six-month period ended September 30, 2025, net earnings available to shareholders were $247.9 million compared to $382.2 million for the same period last year. Self-storage revenues increased by 9.7%, and self-moving equipment rental revenues increased by 2.1% compared to the second quarter of fiscal year 2025.
Key Highlights
- 1
U-Haul Holding Company reported net earnings available to common shareholders for the second quarter ended September 30, 2025, of $105.6 million, compared with net earnings of $186.8 million for the same period last year.
- 2
Earnings per share for Non-Voting Shares (UHAL.B) were $0.54 for the second quarter of fiscal 2026 compared to $0.96 for the same period in fiscal 2025.
- 3
For the six-month period ended September 30, 2025, net earnings available to shareholders were $247.9 million compared with net earnings of $382.2 million for the same period last year.
- 4
Earnings per share for Non-Voting Shares (UHAL.B) were $1.27 for the six-month period of fiscal 2026 compared to $1.96 for the same period in fiscal 2025.
- 5
Self-storage revenues increased $21.8 million, or 9.7% versus the second quarter of fiscal year 2025.
- 6
Self-moving equipment rental revenues increased $23.1 million, or 2.1% versus the second quarter of fiscal year 2025.
- 7
Moving and Storage earnings before interest, taxes, depreciation and amortization (EBITDA) increased $31.6 million to $542.6 million compared to the second quarter of fiscal 2025.
Management Comments
Joe Shoen
“As anticipated, the increase in fleet depreciation expense and losses on the sale of retired equipment continued into this quarter. Revenues for our major product lines are up year-over-year however, profits are down two years running. The better news is Federal Agencies are jettisoning impossible green mandates. U-Haul will be renting trucks for the foreseeable future.”
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