Financial Data and Key Metrics Changes - The company reported first quarter earnings of $195 million, down from $257 million in the same quarter last year, equating to $1 per nonvoting share compared to $1.31 per share last year [6] - Nearly 60% of the decline in earnings was attributed to decreased gains on the disposal of retired equipment [6] - Equipment rental revenue increased by $15 million, approximately 1.5%, marking the first year-over-year increase in eight quarters [7] Business Line Data and Key Metrics Changes - Equipment rental revenue saw a $15 million increase, with transactions and revenue per transaction improving in both in-town and one-way markets [7] - Self-storage revenue increased by $17 million, about 8%, with average revenue per occupied foot improving nearly 3% across the portfolio [9] - The occupied unit count for self-storage rose by over 32,000 units compared to the same time last year, although average occupancy declined by 280 basis points to 80% due to the addition of nearly 64,000 new units [10] Market Data and Key Metrics Changes - The company noted a competitive market for self-storage, with gains observed while many large competitors are not currently experiencing growth [5] - The moving equipment transactions are showing signs of recovery, with the company focusing on improving customer service to attract more business [5] Company Strategy and Development Direction - The company aims to reverse the decline in moving equipment transactions and is focused on enhancing customer service to gain market share [5] - There is a continued emphasis on expanding self-storage units, with a significant increase in capital expenditures for new rental equipment and real estate acquisitions [8][10] - The management believes that catering to customer needs will justify pricing and help maintain a competitive edge in the market [20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by increased costs of new rental trucks and the inability to pass these costs onto consumers [4] - The company is optimistic about the potential for growth in the self-storage segment despite current market softness [21] - Management indicated that while there has been softness in the storage market, they are focused on improving customer service rather than discounting [21] Other Important Information - The company has increased its fiscal 2025 full-year net CapEx projection by about $40 million to $90 million due to the availability of more units from manufacturers [8] - Operating expenses increased by $35 million year-over-year, driven by higher costs in utilities, property taxes, and personnel [51] Q&A Session Summary Question: Is the comment about the customer winning related to pricing power? - Management views the business as a consumer product and believes that pleasing the consumer will enhance their ability to navigate tough times [14] Question: Are there signs of sequential acceleration in business segments? - Storage has been steady, while equipment rental has shown mixed results, with some positive momentum noted in early August [17] Question: What is the impact of the housing market on moving business? - Both in-town and one-way moves saw increases, indicating some consumer optimism [18] Question: How are street rates and customer reactions to rate increases? - Asking rents are up compared to last year, and the company is not seeing significant pushback from customers on rate increases [19] Question: What is the impact of new storage units on the income statement? - New units typically take about three years to contribute positively, and management is focused on optimizing occupancy rates [47] Question: How much of the operating expense increase is due to new locations? - New locations accounted for a little over $2 million of the additional operating expense [54]

United States Securities and Exchange Commission Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from __________________ to _________________ Commission File Number 001-11255 | State or other jurisdiction of | Registrant, State of Incorporation | I.R.S. Employer | | ...

Financial Data and Key Metrics Changes - The company reported a fourth quarter loss of $863,000 compared to earnings of $37.4 million for the same quarter last year [3] - For the full fiscal year 2024, earnings were $628.7 million compared to $924.5 million for fiscal 2023, indicating a significant decline [3] - Operating cash flow or EBITDA showed slight improvement for the quarter despite the loss [3] - Capital expenditures for new rental equipment increased by $320 million to $1,619 million in fiscal 2024, with a projected increase of about $100 million for fiscal 2025 [4] Business Line Data and Key Metrics Changes - Equipment rental revenue decreased by $10 million or 1% compared to the fourth quarter of last year, although March marked the first year-over-year improvement in 19 months [16] - Self-storage revenues increased by $17.5 million or 9% for the quarter and over $86.5 million or 12% for the full year, driven by a 6% increase in rented units [17] - Average sales price per unit in the resale market has been steadily declining, impacting gains on disposal of retired equipment [4] Market Data and Key Metrics Changes - The occupancy ratio for the total portfolio decreased by 140 basis points to just under 80%, largely due to the addition of 55,000 new units [17] - The company reported a decrease in average miles per transaction, although the rate of decrease has slowed [16] - Total truck transactions were down 3% for the year, with a 1% decline in the fourth quarter [16] Company Strategy and Development Direction - The company aims to expand its footprint in self-storage, despite filling rooms at a slower rate than they are adding them [3] - Management emphasized a steady pricing strategy, avoiding drastic price changes based on demand, which they believe confuses customers [10] - The company is focused on increasing productivity through IT improvements and better product offerings [3] Management's Comments on Operating Environment and Future Outlook - Management noted that consumer confidence remains cautious, impacting miles traveled per rental [3] - The company anticipates continued declines in gains from the disposal of equipment over the next 12 months [4] - Management expressed uncertainty regarding the impact of electrification on costs and resale prices, indicating it could lead to significant increases in costs for users [31] Other Important Information - Operating expenses at moving and storage increased by $10 million for the fourth quarter and $100 million for the fiscal year [5] - The company is filing its 10-K later today, marking its first financial statement audit with Deloitte [5] - The company has a robust pipeline of active and pending projects in self-storage, totaling 7.8 million and 9.2 million square feet respectively [17] Q&A Session All Questions and Answers Question: Can you help us understand the impact of increased utilization on CapEx improvements? - Management indicated that utilization increases by decimal points, which is important for overall performance [7] Question: What percentage of your moves are typically one-way moves, and how have they performed recently? - Historically, the company has seen about 55% in-town moves and 45% one-way moves, with a slight increase in one-way revenue during COVID [22] Question: How is the competitive pricing landscape affecting your decisions around street rates? - Management noted that competitors often inflate prices and then discount them, which confuses customers, while the company maintains a steady pricing strategy [45] Question: What is the outlook for the U-Box business in terms of profitability and market share? - The U-Box business has a higher amount of one-way moves, and management is exploring ways to tap into shorter distance moves while maintaining profitability [80] Question: How does the company view the impact of remote work trends on its customer demographics? - Management observed a tidal wave of new customers due to remote work, but this trend has receded as some customers return to work [60]

Contact: Sebastien Reyes Director of Investor Relations U-Haul Holding Company (602) 263-6601 Sebastien_Reyes@uhaul.com U-HAUL HOLDING COMPANY REPORTS FISCAL 2024 FINANCIAL RESULTS RENO, Nev. (May 29, 2024)--U-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, 2024, of $628.7 million, compared with $924.5 mil ...

RENO, Nev.--(BUSINESS WIRE)--U-Haul Holding Company (NYSE: UHAL, UHAL.B), parent of U-Haul International, Inc., North America’s largest “do-it-yourself” moving and self-storage company, will participate in the Granite Research Virtual Conference Series on Wednesday, Mar. 20 and Thursday, Mar. 21. Members of the management team will host meetings with institutional investors. About U-Haul Holding Company U-Haul Holding Company is the parent company of U-Haul International, Inc., Oxford Life Insurance Compa ...

RENO, Nev.--(BUSINESS WIRE)--U-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, on March 6, 2024 declared a quarterly cash dividend of $0.05 per share on its Series N Non-Voting Common Stock (NYSE: UHAL.B). The dividend will be payable March 28, 2024 to holders of record on March 18, 2024. This is the sixth dividend issued under the Company’s dividend policy announced in October 2022. A ...

U-Haul Holding Company (NYSE:UHAL) Q3 2024 Earnings Conference Call February 8, 2024 10:00 AM ET Company Participants Sebastian Reyes – Director-Investor Relations Joe Shoen – Chairman Jason Berg – Chief Financial Officer Conference Call Participants Steven Ralston – Zacks Keegan Carl – Wolfe Research Jamie Wilen – Wilen Management Craig Inman – Artisan Partners Stephen Farrell – Oppenheimer Operator Good morning. My name is Laura, and I will be your conference operator today. At this time, I would like to ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from __________________ to __________________ Commission File Number 001-11255 State or other jurisdiction of incorporation or organization Registrant, State ...

RENO, Nev.--(BUSINESS WIRE)--U-Haul Holding Company (NYSE: UHAL, UHAL.B), the parent company of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company, announced today that Mark Haydukovich, President of Oxford Life Insurance Company (Oxford), will retire after a 45-year career. Haydukovich will continue to serve on the Oxford Board of Directors. Haydukovich joined Oxford in 1978 as an accountant. He went on to hold the titles of Oxford treasurer ...

RENO, Nev.--(BUSINESS WIRE)--U-Haul Holding Company (NYSE: UHAL, UHAL.B), the parent company of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company, plans to report its third quarter fiscal 2024 financial results after the close of market trading on Wednesday, February 7, 2024. The Company is scheduled to conduct its third quarter investor conference call and webcast at 8 a.m. Arizona Time (10 a.m. ET) on Thursday, February 8, 2024. Listen via ...