Financial Performance - Net earnings available to common shareholders for Q1 fiscal 2026 were $142.3 million, down from $195.4 million in the same period last year, with earnings per share for Non-Voting Shares at $0.73 compared to $1.00 in Q1 fiscal 2025[1][3] - The company reported earnings available to common stockholders of $142,331,000 for Q2 2025, a decrease from $195,417,000 in Q2 2024, representing a decline of 27.2%[19] - Basic and diluted earnings per share of Voting Common Stock decreased to $0.68 from $0.95, representing a decline of 28.4% year-over-year[23] - Undistributed earnings per share of Non-Voting Common Stock decreased to $0.73 from $1.00, a decline of 27% year-over-year[23] Revenue and Growth - Total consolidated revenue for Q1 fiscal 2026 was $1,630.5 million, up from $1,548.5 million in Q1 fiscal 2025[11] - Total revenues for the quarter ended June 30, 2025, were $1,630,470,000, an increase from $1,548,490,000 in the same quarter of 2024, representing a growth of 5.3%[19] - Self-storage revenues increased by $18.5 million, or 8.6%, versus Q1 fiscal 2025, with same store occupancy decreasing by 1.0% to 92.8%[3][11] - Self-storage revenues increased to $234,237,000 in Q2 2025, up from $215,737,000 in Q2 2024, reflecting a growth of 8.6%[19] - Self-moving equipment rental revenues rose by $43.9 million, or 4.3%, compared to Q1 fiscal 2025, with revenue per transaction increasing in both In-Town and One-Way markets[3][11] Operational Metrics - Moving and Storage earnings from operations decreased by $52.2 million to $242.9 million compared to Q1 fiscal 2025, primarily due to increased losses from the disposal of retired rental equipment and higher fleet depreciation expenses[3][11] - The average revenue per occupied square foot for the same store in Q1 2026 was $17.44, compared to $17.34 in Q1 2025, indicating a year-over-year increase of 0.6%[19] - The total occupancy rate for all stores in Q1 2026 was 78.1%, slightly down from 78.6% in Q1 2025[15] - The occupancy rate for same stores in Q1 2026 was 92.8%, down from 93.8% in Q1 2025[15] - Non-same store occupancy in Q1 2026 was 66.7%, a slight decrease from 67.3% in Q1 2025[15] Assets and Liabilities - Total assets increased to $20,848,368,000 as of June 30, 2025, compared to $20,479,170,000 as of March 31, 2025, reflecting a growth of 1.8%[18] - The company’s total liabilities were $13,187,600,000 as of June 30, 2025, an increase from $12,981,027,000 as of March 31, 2025[18] - Total debt increased to $7,285.1 million as of June 30, 2025, compared to $7,229.3 million as of March 31, 2025[12] - Cash and cash equivalents as of June 30, 2025, were $877,188,000, down from $988,828,000 as of March 31, 2025[18] - Cash and credit availability at the Moving and Storage segment was $1,191.1 million as of June 30, 2025, down from $1,347.5 million as of March 31, 2025[8] Dividends and Shareholder Returns - The company declared a cash dividend of $0.05 per share on June 4, 2025, paid on June 27, 2025[8] - The company declared dividends of $0.05 per share for Non-Voting Common Stock, consistent with the previous year[23] - The company reported a weighted average of 196,077,880 shares outstanding for both Voting and Non-Voting Common Stock, unchanged from the previous year[23] Accounting and Depreciation - The company adopted a new accounting standard for leases, resulting in approximately $1 billion of property, plant, and equipment being reclassified to Right of Use assets[25] - The total accumulated depreciation as of June 30, 2025, was $6,178,067, compared to $6,120,988 as of March 31, 2025[26] - Total property, plant, and equipment, net as of June 30, 2025, was $15,590,076, an increase from $15,251,298 as of March 31, 2025[26] EBITDA - Adjusted EBITDA for the trailing twelve months increased to $1,650.3 million, up $65.8 million from the previous year[3][12] - Adjusted EBITDA for the quarter ended June 30, 2025, was $545,270, an increase of 5.9% compared to $514,707 in the same quarter of 2024[29] Real Estate Transactions - The company reported net losses on disposal of real estate of $1,617 for the quarter ended June 30, 2025, compared to gains of $3,104 in the same quarter of 2024[29] - The company added 15 new storage locations and 1.2 million net rentable square feet during Q1 fiscal 2026, with approximately 14.8 million net rentable square feet in development or pending[3][11]
U-Haul pany(UHAL_B) - 2026 Q1 - Quarterly Results