U-Haul Holding Co /NV/ Q1 FY27 Results

Summary

U-Haul Holding Company reported net earnings of $122.9 million for the first quarter of fiscal 2027, down from $142.3 million in the prior year period, with earnings per share for Non-Voting Shares at $0.63 compared to $0.73. The company saw an increase in self-storage revenues by 6.8% and self-moving equipment rental revenues by 2.8%. However, Moving and Storage EBITDA decreased by $8.5 million to $536.7 million year-over-year. Management noted that while the pickup and van resale market is tepid, the U-Haul truck resale team is gaining ground, and the pace of storage unit rent up is increasing with rates holding.

Key Highlights

1. 1

   U-Haul Holding Company reported net earnings available to common shareholders for its first quarter ended June 30, 2026, of $122.9 million, a decrease from $142.3 million for the same period last year.

2. 2

   Earnings per share for Non-Voting Shares were $0.63 for the first quarter of fiscal 2027 compared to $0.73 for the same period in fiscal 2026.

3. 3

   Self-storage revenues increased $15.9 million, or 6.8%, versus the first quarter of fiscal year 2026.

4. 4

   Self-moving equipment rental revenues increased $29.3 million, or 2.8%, versus the first quarter of fiscal year 2026.

5. 5

   Moving and Storage earnings before interest, taxes, depreciation and amortization (EBITDA) decreased $8.5 million to $536.7 million compared to the first quarter of fiscal 2026.

6. 6

   During the first quarter of fiscal 2027, U-Haul Holding Company added 18 new self-storage locations with 1.1 million net rentable square feet.

7. 7

   The company repurchased 248,368 shares of its Voting common stock and 584,278 shares of its Non-Voting common stock during the first quarter of fiscal 2027.