Revenue: As of FY2027 Q1, the actual value is USD 1.682 B, beating the estimate of USD 1.681 B.

EPS: As of FY2027 Q1, the actual value is USD 0.63, missing the estimate of USD 0.72.

EBIT: As of FY2027 Q1, the actual value is USD 259.99 M.

Overall Financial Performance

Net earnings available to common shareholders for U-Haul Holding Company were $122.9 million in the first quarter ended June 30, 2026, a decrease from $142.3 million for the same period last year. Consolidated earnings from operations decreased to $250,596 thousand in Q1 Fiscal 2027 from $257,414 thousand in Q1 Fiscal 2026. Total costs and expenses were $1,431,431 thousand in Q1 Fiscal 2027, compared to $1,373,056 thousand in Q1 Fiscal 2026. Pretax earnings were $161,687 thousand in Q1 Fiscal 2027, down from $185,381 thousand in Q1 Fiscal 2026. Income tax expense was -$38,758 thousand in Q1 Fiscal 2027, compared to -$43,050 thousand in Q1 Fiscal 2026. Interest expense increased to $97,912 thousand in Q1 Fiscal 2027 from $82,330 thousand in Q1 Fiscal 2026. Other interest income was $9,391 thousand in Q1 Fiscal 2027, a decrease from $10,669 thousand in Q1 Fiscal 2026.

Moving and Storage Segment

Revenues

Moving and Storage segment revenues were $1,601,949 thousand in Q1 Fiscal 2027, up from $1,553,859 thousand in Q1 Fiscal 2026. Self-moving equipment rental revenues increased $29.3 million, or 2.8%, versus Q1 Fiscal 2026. Self-storage revenues increased $15.9 million, or 6.8%, versus Q1 Fiscal 2026. Other revenue for Moving and Storage increased $1.8 million, or 1.2%, versus Q1 Fiscal 2026.

Operational Metrics

Earnings from operations for the Moving and Storage segment, before consolidation of equity in earnings of insurance subsidiaries, decreased $8.1 million to $234.8 million compared to the first quarter of fiscal 2026. Moving and Storage adjusted EBITDA decreased $8.5 million to $536.7 million compared to Q1 Fiscal 2026. For the trailing twelve months ended June 30, 2026, adjusted EBITDA decreased $13.0 million to $1,637.3 million compared to the trailing twelve months ended June 30, 2025.

Self-Storage Specifics

Same store occupancy decreased 4.5% to 88.3%. Revenue per foot increased 7.6%. During Q1 Fiscal 2027, 18 new locations with storage and 1.1 million net rentable square feet (NRSF) were added, with approximately 12 million NRSF in development or pending.

Operating Costs

Fleet maintenance and repair costs increased $4.1 million compared with Q1 Fiscal 2026. Fleet depreciation expense increased $13.5 million, and real estate related depreciation expense increased $5.1 million in Q1 Fiscal 2027 compared to Q1 Fiscal 2026. Net losses from the disposal of retired rental equipment decreased $24.0 million to a net gain of $1.9 million for Q1 Fiscal 2027.

Cash and Credit Availability

Cash and credit availability at the Moving and Storage segment was $1,348.6 million as of June 30, 2026, down from $1,479.4 million as of March 31, 2026.

Property and Casualty Insurance Segment

Revenues were $31,223 thousand in Q1 Fiscal 2027, up from $29,721 thousand in Q1 Fiscal 2026. Earnings from operations were $12,216 thousand in Q1 Fiscal 2027, compared to $11,888 thousand in Q1 Fiscal 2026.

Life Insurance Segment

Revenues were $51,476 thousand in Q1 Fiscal 2027, up from $50,094 thousand in Q1 Fiscal 2026. Earnings from operations were $3,593 thousand in Q1 Fiscal 2027, compared to $2,676 thousand in Q1 Fiscal 2026.

Other Financial Metrics

Total debt for the Moving and Storage segment was $8,146,884 thousand as of June 30, 2026, compared to $7,285,130 thousand as of June 30, 2025. Consolidated cash and cash equivalents were $1,097,336 thousand as of June 30, 2026, down from $1,120,147 thousand as of March 31, 2026. Consolidated total assets were $21,661,488 thousand as of June 30, 2026, compared to $21,502,789 thousand as of March 31, 2026.

Share Repurchases and Dividends

During Q1 Fiscal 2027, U-Haul Holding Company repurchased 248,368 shares of Voting common stock at a cost of $15.6 million and 584,278 shares of Non-Voting common stock at a cost of $32.4 million. A cash dividend of $0.05 per share on Non-Voting Common Stock was declared on June 3, 2026, and paid on June 26, 2026.

Operational Outlook

U-Haul Holding Company’s chairman noted that the pickup and van resale market is currently tepid, despite achieving a gain on sale this quarter after several quarters of losses. The pace of storage unit rent-up is increasing, and rates are holding, though further improvement is needed as new storage units are being completed faster than they are filled. The company is successfully expanding its U-Haul independent dealer teams, which is expected to drive U-Move transactions and fleet utilization.