Financial Performance - For the fiscal year ended March 31, 2025, net earnings available to shareholders were $367.1 million, down from $628.7 million in the previous year[1] - For the fourth 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] - 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, marking an increase of approximately 3.6%[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] - 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] - Basic and diluted earnings per share of Non-Voting Common Stock for the year were $1.89, down from $3.22 in the previous year[28] Revenue and Occupancy - Self-storage revenues rose by $17.8 million, or 8.4%, in Q4 2025, and for the full year, they increased by $66.8 million, or 8.0%[4] - The total portfolio of average occupied rooms increased by 39,197, or 6.8%, compared to March 31, 2024, with a full-year increase of 35,441, or 6.2%[4] - 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 average monthly number of occupied units increased to 613 in Q4 FY 2025 from 573 in Q4 FY 2024, a rise of 7%[16] 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] - 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] - Operating expenses for the quarter increased to $812,290,000, compared to $757,567,000 in the same quarter of 2024, an increase of about 7.2%[22] Debt and Financial Position - Total debt as of March 31, 2025, was $7,229.3 million, up from $6,929.6 million in the previous year[14] - The net debt to EBITDA ratio increased to 3.9 as of March 31, 2025, compared to 3.7 in the previous quarter[14] - 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 the previous year[9] - Cash and cash equivalents decreased to $988,828,000 from $1,534,544,000, a decline of 35.5% year-over-year[21] - The company reported total liabilities of $12,981,027,000 as of March 31, 2025, an increase of 9.2% from $11,886,313,000 in the previous year[21] Asset Growth - Total assets increased to $20,479,170,000 as of March 31, 2025, compared to $19,058,758,000 a year earlier, reflecting a growth of 7.4%[21] - Total property, plant and equipment, net increased to $15,112,600 thousand as of March 31, 2025, up from $13,423,957 thousand in the previous year, representing a growth of 12.6%[31] - Right-of-use assets, gross reached $21,004,679 thousand as of March 31, 2025, up from $18,185,784 thousand in the previous year, marking an increase of 15.5%[31] - Rental trucks value increased to $7,470,039 thousand as of March 31, 2025, compared to $6,338,324 thousand in the previous year, indicating a growth of 17.9%[31] Other Financial Metrics - Adjusted EBITDA for the trailing twelve months as of March 31, 2025, was $1,619,714 thousand, slightly up from $1,614,146 thousand in the previous quarter, indicating stable operational performance[33] - Interest expense increased to $296,721 thousand for the quarter ending March 31, 2025, compared to $280,487 thousand in the previous quarter, showing a rise of 7.4%[33] - Other interest income decreased to $(59,489) thousand for the quarter ending March 31, 2025, compared to $(87,303) thousand in the previous quarter, indicating a decline of 31.8%[33] - Losses on disposals of real estate for FY 2025 amounted to $15,758,000, compared to $7,914,000 in FY 2024, indicating a significant increase in losses[16] - Net losses on disposal of real estate were reported at $15,758 thousand for the quarter ending March 31, 2025, up from $12,047 thousand in the previous year, representing an increase of 30.5%[33] Dividends - The company declared a cash dividend of $0.05 per share on March 5, 2025, paid on March 28, 2025[9] Transparency and Reporting - 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]
U-Haul pany(UHAL_B) - 2025 Q4 - Annual Results