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 ...

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, today announced the appointment of Governor Doug Ducey as an Advisory Board Member. Doug Ducey is the CEO of Citizens for Free Enterprise (CFFE), an organization that stands at the center of the fight for continued American prosperity. CFFE promotes free enterprise so that all Americans can understand the r ...

U-Haul Holding Company (NYSE:UHAL) Q2 2024 Earnings Conference Call November 9, 2023 10:00 AM ET Company Participants Sebastien Reyes - Director of IR Joe Shoen - Chairman, President and CEO Jason Berg - CFO Conference Call Participants Steven Ralston - Zacks Investment Research Keegan Carl - Wolfe Research James Wilen - Wilen Investment Management Corp. Craig Inman - Artisan Partners Steve Farrell - Oppenheimer Operator Good morning. My name is Cynthia and I will be your conference operator today. At this ...

Revenue Performance - Total revenues for Q3 2023 were $1,649.86 million, a decrease of 3.1% compared to $1,702.86 million in Q3 2022[13] - Self-moving equipment rentals revenue decreased by 8.0% to $1,069.41 million in Q3 2023 from $1,162.03 million in Q3 2022[13] - Self-storage revenues increased by 12.5% to $208.89 million in Q3 2023 from $185.59 million in Q3 2022[13] - Total revenues for the six months ended September 30, 2023, were $3.19 billion, with self-moving equipment rentals accounting for $2.07 billion[141] - Total revenues for the six months ended September 30, 2022, were $3.30 billion, with self-moving equipment rentals generating $2.25 billion[143] - Total revenues for the quarter ended September 30, 2023, were $1,649,860, with $1,305,523 recognized under ASC 842 (leases) and $230,127 under ASC 606 (revenue from contracts with customers)[188] - Total revenues for the six months ended September 30, 2023, were $4,270,838, with $2,527,839 recognized under ASC 842 and $439,035 under ASC 606[188] - Revenues recognized over time for the quarter ended September 30, 2023, were $118,368, while revenues recognized at a point in time were $111,759[188] - Revenues recognized over time for the six months ended September 30, 2023, were $209,683, while revenues recognized at a point in time were $229,352[188] - Self-moving equipment rentals generated $1,069,405 in revenue for the quarter ended September 30, 2023[135] - Self-moving equipment rentals revenue for Q3 2022 was $1.16 billion, contributing significantly to total revenues of $1.70 billion[137] - Self-storage revenues for Q3 2022 reached $185.6 million, showing steady growth in the storage segment[137] - Total revenues for the six months ended September 30, 2022 were $3.301 billion, with Moving & Storage contributing $3.120 billion and Property & Casualty Insurance $180.3 million[158] Net Earnings and Profitability - Net earnings for Q3 2023 were $273.51 million, a decrease from $358.05 million in Q3 2022[20] - Net earnings for the six months ended September 30, 2023 were $530,346 thousand, a decrease from $688,211 thousand in the same period last year[22] - Net earnings for the quarter ended September 30, 2023 were $273,508 thousand, compared to $349,866 thousand in the same period last year[24] - Net earnings for 2023 were $530.3 million, a decrease from $688.2 million in 2022[30] - Net earnings available to common stockholders in 2023 were $273.5 million, down from $349.9 million in 2022[15] - Net earnings available to common stockholders for the quarter ended September 30, 2023, were $273,508[135] - Net earnings available to common stockholders for the six months ended September 30, 2023, were $530.3 million, reflecting strong profitability[141] - Net earnings available to common stockholders for the six months ended September 30, 2022, were $688.2 million, indicating robust financial performance[144] - Net earnings for the period were $688.2 million[153] Assets and Liabilities - Total assets increased by 5.1% to $19,021.45 million as of September 30, 2023, compared to $18,100.73 million as of March 31, 2023[11] - Property, plant and equipment increased by 9.2% to $17,063.48 million as of September 30, 2023, from $15,660.29 million as of March 31, 2023[11] - Total liabilities increased by 3.4% to $11,991.07 million as of September 30, 2023, from $11,596.54 million as of March 31, 2023[11] - Stockholders' equity increased by 8.1% to $7,030.38 million as of September 30, 2023, from $6,504.19 million as of March 31, 2023[11] - Total stockholders' equity as of September 30, 2023 was $7,030,378 thousand, an increase from $6,324,173 thousand in the same period last year[24] - Total liabilities and stockholders' equity as of September 30, 2023, were $19,021,450[128] - Total liabilities for notes, loans, and finance leases payable increased to $6,436,800 from $5,961,511[168] - Total fair value of assets as of March 31, 2023, was $765,038, with reinsurance recoverables and trade receivables at $189,498, mortgage loans at $466,531, and other investments at $109,009[170] - Total fair value of liabilities as of March 31, 2023, was $6,143,350, with notes, loans, and finance leases payable at $5,710,735[170] - Total assets for the Moving & Storage segment were $16,156,182 thousand as of September 30, 2023[126] - Total property, plant, and equipment, net for the Moving & Storage segment were $12,397,040 thousand as of September 30, 2023[126] - Total assets for the Life Insurance segment were $2,881,626 thousand as of September 30, 2023[126] - Total assets for the Property & Casualty Insurance segment were $481,957 thousand as of September 30, 2023[126] - Identifiable assets as of September 30, 2023, were $19,021,450, with the United States holding $18,279,234 and Canada holding $742,216[157] - Identifiable assets as of September 30, 2023 were $19.021 billion, with Moving & Storage accounting for $18.279 billion and Property & Casualty Insurance $742.2 million[158] Cash Flow and Investments - Net cash provided by operating activities in 2023 was $937.4 million, down from $1.19 billion in 2022[30] - Property, plant, and equipment purchases in 2023 totaled $1.66 billion, up from $1.34 billion in 2022[30] - Net cash used by investing activities in 2023 was $1.09 billion, slightly lower than $1.10 billion in 2022[30] - Net cash provided by financing activities in 2023 was $233.7 million, down from $291.4 million in 2022[30] - Cash and cash equivalents at the end of 2023 were $2.15 billion, compared to $3.07 billion in 2022[30] - Net cash provided by operating activities for the six months ended September 30, 2023 was $937.4 million, with Moving & Storage contributing $887.3 million, Property & Casualty Insurance $18.1 million, and Life Insurance $32.1 million[147] - Net cash used by investing activities for the six months ended September 30, 2023 was $1.086 billion, primarily driven by $1.664 billion in purchases of property, plant, and equipment[147] - Net cash provided by financing activities for the six months ended September 30, 2023 was $233.7 million, including $704.96 million in borrowings from credit facilities and $351.89 million in principal repayments on credit facilities[149] - Cash and cash equivalents increased by $84.6 million to $2.145 billion at the end of September 30, 2023, compared to $2.061 billion at the beginning of the period[149] - Net cash provided by operating activities totaled $1.188 billion[153] - Net cash used by investing activities was $1.105 billion[153] - Purchases of property, plant, and equipment totaled $1.336 billion[153] - Proceeds from sales and paydowns of property, plant, and equipment were $329.6 million[153] - Net gains on disposal of personal property were $128.7 million[153] - Net losses on disposal of real estate were $4.2 million[153] - Cash and cash equivalents totaled $2,145.6 million as of September 30, 2023, compared with $2,060.5 million as of March 31, 2023[312] - Net cash provided by operating activities decreased $250.7 million in the first six months of fiscal 2024 compared with the first six months of fiscal 2023[313] - The Company estimates reinvesting approximately $870 million in its rental equipment fleet during fiscal 2024, net of equipment sales and excluding any lease buyouts[316] - The company invested $633 million in real estate acquisitions, new construction, and renovation for the first six months of fiscal 2024[317] - Net capital expenditures for Moving and Storage were $1,256.1 million for the first six months of fiscal 2024, compared to $1,005.9 million in the same period of fiscal 2023[318] Insurance Segment Performance - Net investment and interest income more than doubled to $64.74 million in Q3 2023 from $30.51 million in Q3 2022[13] - Net investment and interest income for the six months ended September 30, 2023, was $129.3 million, showing a significant increase compared to previous periods[141] - Equity in the earnings of U-Haul Holding Company's insurance subsidiaries was $27.1 million for the first six months of fiscal 2024, compared with $15.9 million for the first six months of fiscal 2023[303] - Net premiums for Property and Casualty Insurance were $47.4 million and $46.8 million for the six months ended June 30, 2023 and 2022, respectively[304] - Net investment income for Life Insurance was $63.1 million and $46.4 million for the six months ended June 30, 2023 and 2022, respectively[307] - Property and Casualty Insurance's stockholder's equity increased to $317.5 million as of June 30, 2023, from $294.5 million as of December 31, 2022[320] - Life Insurance's stockholder's equity increased to $145.0 million as of June 30, 2023, from $132.2 million as of December 31, 2022[322] - Life insurance premiums for Q3 2022 were $25.5 million, while property and casualty insurance premiums were $25.7 million[137] - Property and casualty insurance premiums for the six months ended September 30, 2022, were $45.7 million, slightly lower than the previous year[143] Debt and Interest Expenses - Total interest expense for the quarter ended September 30, 2023, was $63.9 million, compared to $57.2 million in the same period in 2022[84] - Interest paid in cash for the second quarter of fiscal 2024 was $74.2 million, up from $63.1 million in the same period in 2023[84] - The fair value of interest rate swaps designated as cash flow hedges was $12.3 million as of September 30, 2023, compared to $5.3 million as of March 31, 2023[89] - The company expects to reclassify $5.7 million of net gains on interest rate contracts from AOCI to earnings as interest expense over the next twelve months[89] - Real estate loans totaling $202.1 million have interest rates based on SOFR plus applicable margins, with the applicable SOFR at 5.33% as of September 30, 2023[68] - Real estate loans (amortizing term) had a weighted average interest rate of 5.89% with outstanding balances of $283.7 million as of September 30, 2023, and $289.6 million as of March 31, 2023[67] - Senior mortgages had a weighted average interest rate of 4.18% with outstanding balances of $2.49 billion as of September 30, 2023, and $2.37 billion as of March 31, 2023[67] - Fleet loans (revolving credit) had a weighted average interest rate of 5.97% with outstanding balances of $593.9 million as of September 30, 2023, and $615.0 million as of March 31, 2023[67] - Finance liabilities (rental equipment) had a weighted average interest rate of 4.38% with outstanding balances of $1.54 billion as of September 30, 2023, and $1.26 billion as of March 31, 2023[67] - The aggregate outstanding principal balance of U-Notes® was $75.4 million as of September 30, 2023, with $1.7 million held by insurance subsidiaries and eliminated in consolidation[81] - The weighted average interest rate for revolving credit during the six months ended September 30, 2023, was 6.38%, with a maximum amount outstanding of $715.0 million[87] - The net book value of rental equipment for finance leases was $377.7 million as of September 30, 2023, and $474.8 million as of March 31, 2023[74] - The net book value of rental equipment for finance liabilities was $1.82 billion as of September 30, 2023, and $1.50 billion as of March 31, 2023[76] - Total notes, loans, and finance leases payable, net of debt issuance costs, were $6.40 billion as of September 30, 2023, and $6.11 billion as of March 31, 2023[67] - The annual maturities of notes, loans, and finance leases payable for the next five years and thereafter totaled $6.44 billion as of September 30, 2023[82] - U-Haul Holding Company issued $600.0 million of fixed rate senior unsecured notes in September 2021, with interest rates ranging from 2.43% to 2.78% and maturities between 2029 and 2033[77] - In December 2021, U-Haul Holding Company issued another $600.0 million of fixed rate senior unsecured notes, with interest rates ranging from 2.55% to 2.78%[78] Other Financial Metrics - Basic and diluted earnings per common share were $2.63 for the six months ended September 30, 2023, compared to $4.41 for the same period in 2022[18] - Total comprehensive income for the quarter ended September 30, 2023 was $246,991 thousand, compared to $259,680 thousand in the previous quarter[22] - Foreign currency translation loss for the six months ended September 30, 2023 was $2,380 thousand, compared to $542 thousand in the same period last year[22] - Unrealized net gain on investments and impact of LFPB discount rates for the six months ended September 30, 2023 was $7,047 thousand, compared to a loss of $244,826 thousand in the same period last year[22] - Change in fair value of cash flow hedges for the six months ended September 30, 2023 was $7,175 thousand, compared to $6,417 thousand in the same period last year[22] - Amounts reclassified into earnings on hedging activities for the six months ended September 30, 2023 was a loss of $1,883 thousand, compared to a gain of $446 thousand in the same period last year[22] - Total comprehensive income for the six months ended September 30, 2023 was $540,305 thousand, compared to $449,706 thousand in the same period last year[22] - Series N Non-Voting Common Stock dividends for the quarter ended September 30, 2023 were $7,059 thousand, compared to $9,804 thousand in the same period last year[24] - Basic and diluted earnings per share of Common Stock in 2023 were $1.36, compared to $2.23 in 2022[15] - The effective tax rate for the six months ended September 30, 2023, was 23.9%, slightly lower than 24.17% in 2022[35] - Earnings per share for Voting Common Stock were $1.36 and $2.23 for the quarters ended September 30, 2023 and 2022, respectively[56] - Earnings per share for Non-Voting Common Stock were $1.40 and $1.73 for the quarters ended September 30, 2023 and 2022, respectively[56] - The liability for future policy benefits is discounted using a current upper-medium grade fixed-income instrument yield, reflecting the duration characteristics of the liability[50] - The adjusted cost of bonds on deposit with insurance regulatory authorities decreased to $21.2 million as of September 30, 2023, from $23.4 million as of March 31, 2023[59] - The company recorded a net impairment charge of ($0.4) million in the first six months ended September 30, 2023, compared to $1.9 million in the same period of 2022[64] - Available-for-sale investments as of September 30, 2023, had an amortized cost of $2,243,618 thousand and a fair market value of $2,021,733 thousand[65] - The fair value of mortgage loans as of September 30, 2023 was $521.8 million, classified as Level 3 in the fair value hierarchy[167] - The fair value of other investments as of September 30, 2023 was $88.7 million, also classified as Level 3 in the fair value hierarchy[167] - The total estimated fair value of financial instruments as of September 30, 2023 was $823.1 million, with $212.6 million in reinsurance recoverables and trade receivables, $521.8 million in mortgage loans, and $88.7 million in other investments[167] - Net (gains) losses from derivative instruments for the first six

U-Haul Holding Company (NYSE:UHAL) Q1 2024 Earnings Conference Call August 10, 2023 11:00 AM ET Company Participants Sebastien Reyes - Director of Investor Relations Joe Shoen - Chairman, President, and Chief Executive Officer Jason Berg - Chief Financial Officer Conference Call Participants Steven Ralston - Zacks Keegan Carl - Wolfe Research Steve Farrell - Oppenheimer Craig Inman - Artisan Partners Operator Good day, and welcome to the U-Haul Holding Company First Quarter Fiscal 2024 Investor Call. All pa ...

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 June 30, 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 of I ...

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, 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 Nevada 88-0106815 Registra ...