Revenue: As of FY2026, the actual value is USD 6.038 B, beating the estimate of USD 6.015 B.

EPS: As of FY2026, the actual value is USD 0.24, missing the estimate of USD 0.42.

EBIT: As of FY2026, the actual value is USD 750.12 M.

Outlook

U-Haul Holding Company anticipates fleet depreciation to moderate by this time next year due to lower capital expenditures on rental trucks . Liability cost growth is expected to normalize, varying with fleet size and increasing with inflation . The company is managing costs associated with newly built but unrented storage units, which are well-located and expected to rent, and construction of additional storage units has been declining .

Overall Company Performance

• Net Earnings Available to Shareholders:
  • For the year ended March 31, 2026, net earnings were $83.1 million, a decrease from $367.1 million for the same period last year .
  • For the quarter ended March 31, 2026, net losses available to shareholders were -$127.8 million, compared with net losses of -$82.3 million for the same period last year .
• Consolidated Revenues:
  • For the full year fiscal 2026, consolidated revenues were $6,037,819 thousand, up from $5,828,665 thousand in fiscal 2025 .
  • For the fourth quarter of fiscal 2026, consolidated revenues were $1,271,819 thousand, up from $1,233,509 thousand in the prior year quarter .
• Consolidated Earnings/Losses from Operations:
  • For the full year fiscal 2026, consolidated earnings from operations were $432,621 thousand, a decrease from $716,154 thousand in fiscal 2025 .
  • For the fourth quarter of fiscal 2026, consolidated losses from operations were -$76,059 thousand, compared to -$42,776 thousand in the fourth quarter of fiscal 2025 .

Moving and Storage Segment

• Revenues:
  • For the full year fiscal 2026, Moving and Storage segment revenues were $5,686,690 thousand, an increase from $5,492,774 thousand in fiscal 2025 .
  • For the fourth quarter of fiscal 2026, revenues were $1,180,114 thousand, up from $1,153,414 thousand in the prior year quarter .
• Earnings from Operations (before consolidation of equity in earnings of insurance subsidiaries):
  • For the full year, earnings decreased by $295.5 million compared to fiscal 2025 .
  • For the fourth quarter, earnings decreased by $39.9 million compared to fiscal 2025 .
• Operational Costs Impacting Earnings:
  • Losses from the disposal of retired rental equipment accounted for $2.1 million of the decrease in the fourth quarter and $117.6 million for the full year .
  • Fleet depreciation expense increased by $40.6 million in the fourth quarter and $186.6 million for the full year .
  • Liability costs decreased by $1.8 million for the fourth quarter but increased by $76.4 million for the full year .
• Adjusted EBITDA:
  • For the full year ended March 31, 2026, adjusted EBITDA increased by $26.1 million to $1,645.9 million compared with fiscal 2025 .
  • For the fourth quarter, adjusted EBITDA increased by $5.7 million to $223.0 million .

Self-Storage Operations

• Revenues:
  • For the full year fiscal 2026, self-storage revenues increased by $74.5 million, or 8.3%, compared to fiscal 2025 .
  • In the fourth quarter of fiscal 2026, self-storage revenues increased by $16.3 million, or 7.1%, compared to the prior year quarter .
• Occupancy and Revenue Metrics:
  • Same store occupancy decreased by 5.4% to 86.1% for the fourth quarter of fiscal 2026 .
  • Revenue per foot increased by 6.5% for the fourth quarter .
  • The number of locations qualifying for the same store pool increased by 55 .
  • As of March 31, 2026, total self-storage square footage was 73,651 thousand, with an average monthly occupancy rate of 74.4% for the full year .
• Development:
  • During the fourth quarter of fiscal 2026, U-Haul Holding Company added 12 new locations with storage and 1.0 million net rentable square feet (NRSF) .
  • The company has approximately 11.7 million NRSF in development or pending .

Self-Moving Equipment Rental

• Revenues:
  • For the full year fiscal 2026, self-moving equipment rental revenues increased by $86.4 million, or 2.3%, compared to fiscal 2025 .
  • For the fourth quarter of fiscal 2026, these revenues increased by $11.7 million, or 1.6% .
• Transaction Metrics:
  • One-way transactions increased, and in-town revenue per transaction grew compared to fiscal 2025 .
  • Revenue per transaction was flat overall .

Insurance Segments

• Property and Casualty Insurance:
  • For the full year fiscal 2026, revenues were $141,202 thousand, up from $125,164 thousand in fiscal 2025 .
  • For the full year fiscal 2026, earnings from operations were $67,197 thousand, up from $54,745 thousand in fiscal 2025 .
• Life Insurance:
  • For the full year fiscal 2026, revenues were $221,753 thousand, slightly down from $221,869 thousand in fiscal 2025 .
  • For the full year fiscal 2026, earnings from operations were $15,308 thousand, down from $16,642 thousand in fiscal 2025 .

Debt and Liquidity

• Cash and credit availability at the Moving and Storage operating segment was $1,479.4 million as of March 31, 2026, compared to $1,347.5 million as of March 31, 2025 .
• Total debt was $8,124,949 thousand as of March 31, 2026, up from $7,229,341 thousand as of March 31, 2025 .
• Cash and cash equivalents were $1,120,147 thousand as of March 31, 2026, compared to $988,828 thousand as of March 31, 2025 .
• The net debt to adjusted EBITDA ratio was 4.3 as of March 31, 2026 .
• The net debt to total assets ratio was 38.0% as of March 31, 2026 .
• As of March 31, 2026, 6.7% of debt was floating and 93.3% was fixed .

Capital Allocation and Dividends

• On May 22, 2026, the U-Haul Holding Company Board of Directors authorized a $350 million share repurchase plan across both classes of shares .
• A cash dividend of $0.05 per share on Non-Voting Common Stock was declared on March 4, 2026, and paid on March 27, 2026 .