U-Haul pany(US:UHAL)2025-05-28 21:57Financial Performance - Net earnings available to shareholders for the year ended March 31, 2025, were $367.1 million, down from $628.7 million in the previous year[1] - For the quarter ended March 31, 2025, the company reported net losses available to shareholders of ($82.3) million, compared to net losses of ($0.9) million for the same period last year[2] - Earnings available to common shareholders for the year ended March 31, 2025, were $367,090,000, down from $628,707,000 in 2024, a decrease of approximately 41.6%[23] - The company reported a net loss available to common shareholders of $82,291,000 for the quarter ended March 31, 2025, compared to a loss of $863,000 in the same quarter of 2024[22] - Basic and diluted losses per share of Common Stock for the quarter were $0.46, compared to $0.05 in the prior year[22] - Net earnings available to common stockholders decreased to $367,090 in March 2025 from $448,518 in March 2024, reflecting a decline of about 18.1%[33] Revenue and Growth - Total revenues for the quarter ended March 31, 2025, increased to $1,233,509,000, up from $1,179,170,000 in the same quarter of 2024, representing a growth of approximately 4.6%[22] - For the year ended March 31, 2025, total revenues reached $5,828,665,000, a rise from $5,625,674,000 in 2024, indicating a growth of approximately 3.6%[23] - Self-storage revenues rose by $17.8 million, or 8.4%, in Q4 2025 compared to Q4 2024, and for the full year, it increased by $66.8 million, or 8.0%[4] - Self-moving equipment rental revenues increased by $29.0 million, or 4.1%, in Q4 2025, finishing the full year up $100.8 million, or 2.8% compared to fiscal 2024[4] Expenses and Depreciation - Total depreciation expense for Q4 FY 2025 was $253,178,000, an increase of 18.5% from $213,652,000 in Q4 FY 2024[15] - For the full year FY 2025, total depreciation expense reached $971,933,000, up 18.8% from $817,889,000 in FY 2024[16] - Operating expenses for the quarter increased to $812,290,000, compared to $757,567,000 in the same quarter of 2024, marking an increase of about 7.2%[22] - The company experienced a significant increase in depreciation expenses, which rose to $268,278,000 for the quarter, compared to $198,347,000 in the prior year[22] Assets and Liabilities - Total debt as of March 31, 2025, was $7,229.3 million, an increase from $6,929.6 million in the previous year[14] - Total assets increased to $20,479,170,000 in FY 2025 from $19,058,758,000 in FY 2024, reflecting a growth of 7.4%[21] - Cash and cash equivalents decreased to $988,828,000 in FY 2025 from $1,534,544,000 in FY 2024, a decline of 35.5%[21] - Cash and credit availability at the Moving and Storage operating segment was $1,347.5 million as of March 31, 2025, down from $1,886.3 million in 2024[9] Operational Metrics - The average occupied rooms increased by 39,197, or 6.8%, compared to March 31, 2024, and for the full year, it increased by 35,441, or 6.2%[4] - The company operated 799 self-storage units as of March 31, 2025, compared to 728 units a year earlier, representing a growth of 9.8%[16] - Average monthly occupancy rate for owned storage locations in Q4 FY 2025 was 77.3%, down from 79.8% in Q4 FY 2024[16] - The end of period occupancy rate based on unit count was 77.0% for Q4 FY 2025, down from 79.3% in Q4 FY 2024[16] Investments and Dividends - The company declared a cash dividend of $0.05 per share on March 5, 2025, paid on March 28, 2025[9] - The company added 20 new storage locations with 1.6 million net rentable square feet during the fourth quarter[4] Non-GAAP Measures - The company aims to enhance transparency in financial disclosures through the use of non-GAAP measures like Adjusted EBITDA, which provides a clearer view of core business operations[32] - Adjusted EBITDA for the trailing twelve months as of March 31, 2025, was $1,619,714, compared to $1,614,146 for the same period in 2024, showing a slight increase[33]