UHAL earnings analysis
What we found in UHAL's 10-K: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
U-Haul Holding Company reported a challenging fiscal year ending March 31, 2026, with total revenues of $6,037,819,000, reflecting a year-over-year increase of 3.6%. However, earnings available to common stockholders decreased to $83,128,000, primarily due to rising operational costs and increasing interest expenses. The Moving and Storage segment remains the largest revenue contributor, indicating strategic investments in self-storage and rental services; however, profitability is under pressure from enhanced competition and economic challenges.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Stable Revenue Growth
- Total revenue increased to $6,037,819,000, up from $5,828,665,000 in the previous year.
- Self-Moving Equipment & Storage Growth
- Self-moving equipment rental revenues grew by approximately $86.4 million year-over-year, reaching $3,811,921,000.
- Improved Free Cash Flow
- Net cash provided by operating activities increased to $1,794,584,000 from $1,454,429,000 the prior year.
- Focus on Sustainability
- The company continues to expand its online services and green initiatives, asserting its leadership in the DIY moving market.
- Stock Buyback Program Initiated
- On May 22, 2026, U-Haul authorized a $350 million stock repurchase program to enhance shareholder value.
- Organic Growth in Self-Storage
- The self-storage segment grew its revenues by $74.5 million during the fiscal year.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Net Loss Available to Shareholders
- U-Haul experienced a net loss available to common stockholders of $36,797,000 compared to income of $367,090,000 in the prior year.
- High Operating Expenses
- Total costs and expenses surged to $5,605,198,000, a significant increase influenced by repair and personnel costs.
- Interest Expense Surge
- Interest expense doubled to $364,757,000 as debt levels rose, putting pressure on profitability.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.24
- Operating margin
- 7.17%
- Segment
- Moving and Storage
- Segment
- Property and Casualty Insurance
- Segment
- Life Insurance
What they said about what is next.
Annual outlook deferred to earnings press release / call.
The filing reads worse than the one before it.
What came before.
- 10-Q · February 4, 2026
- U-Haul reported Q3 total revenues of $1,415,608,000 (1,415,608 in the filing's thousands) up from $1,388,558,000 a year ago, but operating income collapsed to $33,672,000 from $150,732,000 and the company delivered a…
- 10-Q · February 5, 2025
- U-Haul reported Q3 total revenues of $1,388,558 (in thousands), up from $1,339,514 a year earlier, but operating income and EPS declined. Earnings from operations fell to $150,732 (in thousands) from $197,588 and…
- 10-Q · August 7, 2024
- U-Haul reported total revenues of $1,548,490,000 for the quarter, up modestly from $1,540,308,000 a year earlier, while operating income fell to $306,242,000 from $399,658,000 and GAAP basic/diluted EPS for Common Stock…
- 10-Q · August 9, 2023
- U-Haul reported Q1 total revenues of $1,540,308 (in thousands), down from $1,597,840 (in thousands) a year ago, while diluted common EPS fell to $1.27 from $2.18. Operating income declined to $399,658 (in thousands) and…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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