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, 2021 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 ...

AMERCO (NYSE:UHAL) Q4 2021 Earnings Conference Call May 27, 2021 11:00 AM ET Company Participants Sebastien Reyes - Director, Investor Relations Jason Berg - Chief Financial Officer Conference Call Participants Steven Ralston - Zacks Jamie Wilen - Wilen Management Craig Inman - Artisan Partners Steve Galbraith - Kindred Capital Advisors Operator Good day. And welcome to the AMERCO Fourth Quarter Fiscal 2021 Year End Investor Call. All participants will be in a listen-only mode. [Operator Instructions] After ...

Debt and Financial Obligations - As of March 31, 2021, the company had total debt outstanding of $4,698.6 million and operating lease liabilities of $92.5 million[77]. - Economic conditions, including credit market fluctuations, may adversely affect the company's ability to refinance existing debt or find additional financing on favorable terms[83]. - As of March 31, 2021, the company had $1,152.9 million in variable rate debt obligations, with a potential increase in interest expense of $9.2 million annually if LIBOR rises by 100 basis points[223]. - The potential phase-out of LIBOR by June 2023 may adversely affect the company's cost of capital and net investment income[80]. Competition and Market Conditions - The truck rental industry is highly competitive, with significant national, regional, and local competitors, which may adversely impact the company's financial results due to aggressive pricing strategies[76]. - The company’s ability to generate sufficient cash flow from operations to service its debt and meet other cash needs is subject to prevailing economic and competitive conditions[79]. Regulatory and Environmental Factors - The introduction of regulations favoring electric and autonomous vehicles may require infrastructure improvements that could inhibit the company's current business model[101]. - The company is subject to numerous environmental regulations, and future liabilities could have a material adverse effect on its business and financial condition[90]. Operational Risks - The company relies on a limited number of manufacturers for its rental trucks, which could negatively impact its fleet if these suppliers face issues[86]. - The company faces liability risks associated with its rental fleet and operations, which could negatively impact financial results despite risk management efforts[106]. - The company is highly dependent on automated systems and the Internet for business management, exposing it to risks from cyber-attacks and system disruptions[108]. Strategic Initiatives - U-Haul has made significant progress on initiatives such as TruckShare 24/7 and a North American propane alternative fuel network[105]. Insurance and Reinsurance - A.M. Best affirmed the financial strength rating for Oxford and Christian Fidelity Life Insurance Company at A- with a positive outlook, which is crucial for the life insurance business[111]. - Repwest reported $0.3 million of reinsurance recoverables and $64.9 million of reserves and liabilities ceded to reinsurers as of December 31, 2020[113]. Financial Instruments and Hedging - The company utilizes interest rate swap agreements to mitigate exposure to changes in interest rates, with three agreements totaling a notional amount of $235 million[223]. - The company uses derivatives to hedge equity market exposure related to indexed annuity products, with a net market value of $6.6 million as of December 31, 2020[225]. Currency Impact - Approximately 4.6% of the company's revenue was generated in Canada in fiscal 2021, 2020, and 2019, with no material impact expected from a 10% change in the U.S. dollar relative to the Canadian dollar[227]. Tax Legislation Impact - The Tax Cuts and Jobs Act and the CARES Act have introduced complexities in accounting treatment that could adversely affect future operating cash flows[113].

Financial Data and Key Metrics Changes - The company reported third quarter earnings of $9.33 per share, a significant increase from $1.58 per share for the same period in fiscal 2020 [8] - Equipment rentals increased by 30%, approximately $187 million, while for the nine months, the increase was 10%, or $219 million [9] - Operating earnings in the moving and storage segment rose by $202 million to a total of $264 million for the quarter [19] - Cash and availability from existing loan facilities totaled $1.343 million at December 31 [21] Business Line Data and Key Metrics Changes - Retail product sales increased by $20 million or 37% for the quarter, with all major product lines reporting gains [18] - The self-storage segment saw revenues up by $16 million or 15%, with an increase of 66,900 occupied units compared to the same time last year [14] - Capital expenditures on new rental trucks and trailers were $541 million for the first nine months, down from $1.161 billion for the same period last year [11] Market Data and Key Metrics Changes - The company added over 29,000 new rooms during the first nine months of the year, compared to 59,000 rooms added in the same period last year [15] - The all-in blended occupancy rate increased from 67% last year to 73% this year [15] - Approximately 6.6 million new rentable square feet are in development across 134 projects [17] Company Strategy and Development Direction - The company aims to expand into more markets with company stores, focusing on areas that have not been economically viable in the past [45] - There is a goal to increase the pace of investment in self-storage and U-Box warehouse space, contingent on finding suitable opportunities [16] - The company is working to ramp up the manufacturing of new equipment to normalize fleet rotation over the next 1.5 to 2 years [12] Management's Comments on Operating Environment and Future Outlook - Management noted strong customer demand for self-moving products and services, attributing success to frontline teams and technology [9] - The company is cautious about future cash flow and plans to ramp back up CapEx programs while monitoring COVID-19 developments [76] - Management expressed confidence in the ability to adapt to changing consumer behavior and migration patterns, indicating a potential for sustained demand [49] Other Important Information - The company declared and paid a $2 per share special cash dividend during the third quarter [21] - Proceeds from the sales of retired rental equipment decreased by nearly $162 million to a total of $430 million for the first nine months of this year [13] Q&A Session Summary Question: Can you discuss the leverage of the business given the strong quarter? - Management indicated that 40% of the revenue increase was from transaction growth, with the remainder from revenue per transaction, primarily driven by rate increases [28] Question: How has the cost structure changed with revenue increases? - Personnel expenses increased only slightly, with the majority of the increase attributed to performance-based compensation for field teams [31] Question: What is the outlook for occupancy rates in self-storage? - Management expects occupancy rates to continue rising due to a pause in construction caused by COVID-19 [60] Question: How is the company adapting to changes in mobility and migration? - The company plans to continue expanding into new markets and enhancing its dealer network to meet demand [46] Question: What is the expected depreciation in the next fiscal year? - Depreciation is expected to trend upwards as production of new trucks resumes, with a significant impact anticipated from the timing of truck production [68]

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

AMERCO (NYSE:UHAL) Q2 2021 Earnings Conference Call November 5, 2020 10:00 AM ET Company Participants Sebastien Reyes - Director of Investor Relations Joe Shoen - Chairman of Board Jason Berg - Chief Financial Officer Sam Shoen - Program Manager, U-Box Conference Call Participants Steven Ralston - Zacks Jamie Wilen - Wilen Management Craig Inman - Artisan Partners Operator Good day, ladies and gentlemen and welcome to the AMERCO Second Quarter Fiscal 2021 Investor Call and Webcast. All lines have been place ...

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 September 30, 2020 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 ...

AMERCO (NYSE:UHAL) Q1 2021 Results Conference Call August 6, 2020 11:00 AM ET Company Participants Sebastien Reyes - Director of Investor Relations Edward Shoen - President & Chief Executive Officer Jason Berg - Chief Financial Officer Conference Call Participants Ian Gilson - Zacks Investment Research Jamie Wilen - Wilen Management Diane Huang - Cinctive Craig Inman - Artisan Partners Ian Gilson - Zacks Investment Research Operator Good morning, and welcome to the AMERCO First Quarter Fiscal 2021 Investor ...

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, 2020 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 ...

AMERCO (NYSE:UHAL) Q4 2020 Earnings Conference Call May 28, 2020 11:00 AM ET Company Participants Sebastien Reyes - Director of Investor Relations Edward Shoen - Chairman of the Board Directors, President & Chief Executive Officer Jason Berg - Chief Financial Officer Conference Call Participants Ian Gilson - Zacks Investment Research Jamie Wilen - Wilen Management Craig Inman - Artisan Partners Operator Good day, and welcome to the AMERCO Fourth Quarter Fiscal 2020 Year End Investor Call and Webcast. All ...