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U-Haul (UHAL) investor relations material
U-Haul Q2 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 FY27 revenue was $1,772.7M vs. $1,719.9M; net earnings were $136.7M vs. $105.6M, and Series N EPS was $0.71 vs. $0.54.
Moving and Storage revenue reached $1,694.2M; Adjusted EBITDA was $547.6M vs. $542.6M a year earlier.
Management described the quarter as a modest win and said reinvestment would continue at a slower pace.
Financial highlights
Q2 earnings from operations rose to $265.0M from $217.6M; pretax earnings were $150.9M vs. $116.9M.
Self-moving equipment rental revenue increased $37.5M, or 3.4%, and self-storage revenue rose $15.8M, or 6.4%, YoY.
Operating expenses rose, led by freight and shipping costs (+$24.4M), personnel (+$10.2M), self-insured liability costs (+$6.2M) and property taxes (+$4.7M).
Lower rental-equipment disposal losses partly offset cost increases; Q2 disposal losses fell to $4.2M from $38.3M.
Outlook and guidance
FY2027 net fleet reinvestment is estimated at $855.0M, excluding lease buyouts; $724.0M had been invested net of sales through H1.
H1 real estate acquisitions, construction, renovation and repair totaled $431.6M; spending may remain near this level through the rest of FY2027, while full-year acquisition and new-development spending is expected to decrease.
Storage development or pending pipeline was ~11.4M net rentable sq. ft.; management plans to complete current projects and raise storage occupancy.
October revenue trended higher than Q2, and trailing-12-month transaction comparisons turned positive; freight costs are expected to keep rising near term.
- Directors re-elected, financials reviewed, and sustainability proposal rejected.UHAL
AGM 2026 - Dealer network growth, tech innovation, and disciplined capital allocation drive future upside.UHAL
Investor Day 2026 - Revenue grew 3.2% but net earnings and margins declined amid rising costs and expansion.UHAL
Q1 2027 - Strong growth, reinvestment, and internal talent drive performance amid industry challenges.UHAL
AGM 2024 - Key votes include director elections, auditor ratification, and a GHG emissions disclosure proposal.UHAL
Proxy filing - Six key proposals, including director elections and a climate disclosure request, go to vote.UHAL
Proxy filing - Q3 FY26 net loss of $37M driven by fleet depreciation, poor resale, and higher costs.UHAL
Q3 2026 - Q2 net earnings dropped 32% to $186.8M as costs rose and margins declined.UHAL
Q2 2025 - Q3 FY2025 revenue grew 3.7% to $1.39B, but net earnings dropped 32% to $67.2M.UHAL
Q3 2025
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