Business
U-Haul Holding Company Reports Fiscal 2026 Financial Results
U-Haul Holding Company Reports Fiscal 2026 Financial
About this update from U-haul Holding Company
[{"type":"text","content":"\nU-Haul Holding Company (NYSE: UHAL, UHAL.B), parent of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company, today reported net earnings available to shareholders for the year ended March 31, 2026 of $83.1 million compared with $367.1 million for the same period last year.\n\n\nFor the quarter ended March 31, 2026, the Company reported net losses available to shareholders of ($127.8) million compared with net losses of ($82.3) million for the same period last year.\n\n\n“This is the second time in recent years we have had a real loss in this quarter,” stated Joe Shoen, Chairman of U-Haul Holding Company. “The issues with loss on disposal of rental equipment are working themselves through. CapEx on rental trucks will likely be down this time next year helping moderate fleet depreciation. Liability cost growth will normalize, continuing to vary with fleet size and growing with inflation. We are pushing a bow wave of costs associated with built but not rented storage units. These are well located and will rent. Construction of additional storage units has been declining for several months, but until we rent more than we add, these costs will remain an increasing drain. We are increasing our dealer locations in both the US and Canada to better serve the customer. Our relations with our customer base remain solid.”\n\n\nHighlights of Fiscal Year and Fourth Quarter 2026 Results\n\nMoving and Storage earnings from operations, before consolidation of the equity in earnings of the insurance subsidiaries, decreased $39.9 million compared to the fourth quarter of fiscal 2025 and for the full year decreased $295.5 million compared to fiscal 2025.\n\n\nLosses from the disposal of retired rental equipment accounted for $2.1 million for the fourth quarter and $117.6 million for the full year of the decrease while fleet depreciation expense increased $40.6 million for the fourth quarter and $186.6 million for the full year. Liability costs decreased $1.8 million for the quarter and increased $76.4 million for the full year, all compared with the fourth quarter and full year of fiscal 2025.\n\n\n\nMoving and Storage earnings before interest, taxes, depreciation and amortization adjusted (EBITDA) increased $5.7 million to $223.0 million compared to the fourth quarter of fiscal 2025 ...