U-Haul pany(UHAL) - 2025 Q3 - Quarterly Report

Revenue Growth - Self-moving equipment rental revenues increased by $38.8 million to$878.6 million in Q3 fiscal 2025 compared to Q3 fiscal 2024[193]. - Self-storage revenues rose by $16.6 million to$227.1 million, with a 6.8% increase in average monthly occupied units, adding 39,055 units[194]. - Consolidated revenue for Q3 fiscal 2025 reached $1.39 billion, up from$1.34 billion in Q3 fiscal 2024, marking a growth of approximately 3.5%[193]. - Self-moving equipment rental revenues increased by $38.6 million to$879.7 million in Q3 fiscal 2025 compared to Q3 fiscal 2024[208]. - Self-storage revenues rose by $16.6 million to$227.1 million in Q3 fiscal 2025, with a 6.8% increase in average monthly occupied units[209]. - Self-moving equipment rental revenues for the first nine months of fiscal 2025 increased by $71.9 million to$2.98 billion compared to the same period in fiscal 2024[228]. - Self-storage revenues for the first nine months of fiscal 2025 increased by $49.0 million to$667.4 million, with a 6.0% increase in average monthly occupied units[229]. - Total revenues for the Moving and Storage segment were $4,339.4 million for the first nine months of fiscal 2025, up from$4,285.8 million in the same period of fiscal 2024[237]. - Total revenues for the quarter ended December 31, 2024, were $1,388,558,000, an increase from$1,339,514,000 in the same quarter of 2023, representing a growth of approximately 3.6%[296][297]. - For the nine months ended December 31, 2024, total revenues reached $4,595,156,000, compared to$4,339,360,000 for the same period in 2023, showing an increase of about 5.9%[298]. Earnings and Profitability - Earnings from operations decreased to $150.7 million in Q3 fiscal 2025, down from$197.6 million in Q3 fiscal 2024, reflecting a decline of about 23.7%[205]. - Earnings available to common stockholders decreased to $67.2 million in Q3 fiscal 2025 from$99.2 million in Q3 fiscal 2024[207]. - Consolidated earnings from operations for Moving and Storage decreased to $145.2 million in Q3 fiscal 2025 from$194.7 million in Q3 fiscal 2024[218]. - Earnings from operations for the Moving and Storage segment decreased to $703.0 million for the first nine months of fiscal 2025, down from$968.9 million in the same period of fiscal 2024[237]. - Net earnings available to common stockholders for Q4 2024 were $67,166,000, consistent with Q4 2023, indicating stable performance despite revenue growth[296][297]. - The company reported pretax earnings of$592,026,000 for the nine months ended December 31, 2024, compared to $579,686,000 in the same period of 2023, reflecting an increase of approximately 2.1$629,570,000, with cash provided by operating activities totaling $1,240,043,000[303]. Costs and Expenses - Total costs and expenses rose by$95.9 million, with operating expenses for Moving and Storage increasing by $11.6 million[203]. - Total costs and expenses increased by$89.1 million in Q3 fiscal 2025 compared to Q3 fiscal 2024, with operating expenses rising by $11.6 million[215]. - Total costs and expenses for the nine months ended December 31, 2024, were$3,836,226,000, an increase from $3,636,330,000 in the same period of 2023, representing a growth of about 5.5$718,755,000 for the nine months ended December 31, 2024, highlighting significant asset utilization[301]. Investment and Capital Expenditures - The company plans to reinvest approximately $1,115 million in its rental equipment fleet during fiscal 2025[271]. - The company invested$1,213.9 million in real estate acquisitions, new construction, and renovations in the first nine months of fiscal 2025[272]. - Net capital expenditures at Moving and Storage were $2,333.4 million for the first nine months of fiscal 2025, compared to$1,802.8 million for the same period in 2024[273]. - The company expects to maintain a high level of real estate capital expenditures through the remainder of fiscal 2025[315]. Cash Flow and Liquidity - Cash and cash equivalents totaled $1,017.4 million as of December 31, 2024, down from$1,534.5 million as of March 31, 2024[266]. - Net cash provided by operating activities increased by $15.9 million in the first nine months of fiscal 2025 compared to fiscal 2024[267]. - Cash flows from financing activities resulted in a net cash provided of$211,234,000, primarily driven by borrowings from credit facilities totaling $1,037,082,000[304]. - Cash and cash equivalents at the end of the period were$1,017,398,000, down from $1,534,544,000 at the beginning of the period[302]. Financial Position - Total assets as of December 31, 2024, amounted to$20,330.1 million, with cash and cash equivalents at $883.1 million[292]. - Total liabilities reached$12,698.8 million, including accounts payable and accrued expenses of $799.5 million[293]. - Stockholders' equity totaled$7,631.3 million, with retained earnings reported at $0[293]. - The company holds fixed maturity securities available-for-sale valued at$2,442.5 million, indicating a strong investment position[294]. - The company reported accumulated other comprehensive income (loss) of $(223.2) million, which may impact future financial performance[295]. Risks and Future Outlook - The company faces risks related to inflationary pressures that may challenge its operating margin[315]. - The company is reliant on a limited number of manufacturers for its rental trucks, which poses a supply risk[315]. - The company acknowledges potential impacts from technology and cybersecurity breaches on its financial performance[315]. - The company anticipates fluctuations in quarterly results and seasonality affecting its performance[315]. - Future outlook includes continued focus on expanding self-storage and moving services, leveraging existing infrastructure and customer base[300].