Financial Performance - Net earnings available to common shareholders for Q2 fiscal 2026 were $105.6 million, down from $186.8 million in the same period last year, representing a decrease of 43.4%[1] - Earnings per share for Non-Voting Shares (UHAL.B) were $0.54, compared to $0.96 for the same period in fiscal 2025, a decline of 43.8%[1] - Earnings from operations decreased to $475,008, down 21.8% from $608,198 in the same period last year[15] - Earnings available to common stockholders for the quarter decreased to $105,550,000, down 43.5% from $186,798,000 in 2024[21] - Earnings available to common stockholders for the six months decreased to $247,881,000, down 35.1% from $382,215,000 in the prior year[22] - Basic and diluted earnings per share of Common Stock fell to $0.49, a decrease of 46.2% from $0.91 in the same quarter last year[21] - Basic and diluted earnings per share of Common Stock for the six months were $1.17, a decline of 37.0% from $1.86 in 2024[22] Revenue and Growth - Total consolidated revenue for Q2 fiscal 2026 was $1,719.9 million, up from $1,658.1 million in Q2 fiscal 2025, an increase of 3.7%[11] - Consolidated revenue for the first six months of fiscal 2026 reached $3,350,392, an increase of 4.5% compared to $3,206,598 in the same period of fiscal 2025[15] - Total revenues for the quarter ended September 30, 2025, increased to $1,719,922,000, up from $1,658,108,000 in 2024, representing a growth of 3.7%[21] - For the six months ended September 30, 2025, total revenues reached $3,350,392,000, a 4.5% increase from $3,206,598,000 in 2024[22] Operational Metrics - Moving and Storage earnings from operations decreased by $83.3 million to $197.4 million compared to Q2 fiscal 2025[3] - Self-storage revenues increased by $21.8 million, or 9.7%, versus Q2 fiscal 2025[3] - Self-moving equipment rental revenues increased by $23.1 million, or 2.1%, compared to Q2 fiscal 2025[3] - Self-moving equipment rental revenues increased to $2,168,750, up 3.5% from $2,101,680 year-over-year[14] - Self-storage revenues grew to $480,536, representing a 9.1% increase from $440,256 in the prior year[14] - Average monthly occupancy rate for self-storage units decreased to 76.3% from 80.9% in the same quarter last year[13] - Average monthly occupancy rate for self-storage facilities declined to 77.2%, down from 80.5% in the prior year[16] - The company added 23 new storage locations and 1.6 million net rentable square feet during Q2 fiscal 2026[3] Expenses and Liabilities - Total costs and expenses for the quarter were $1,502,328,000, up from $1,356,152,000, reflecting an increase of 10.8%[21] - Total debt increased to $7,732.5 million as of September 30, 2025, up from $7,285.1 million at June 30, 2025[12] - Total liabilities increased to $13,660,532, compared to $12,981,027 in the previous reporting period[20] - Total depreciation expense rose to $584,185, an increase of 24.5% compared to $469,138 in the previous year[16] - Depreciation expenses for the quarter increased significantly to $340,608,000, compared to $227,270,000 in the previous year, indicating a rise of 49.8%[21] Assets and Cash Flow - Cash and cash equivalents increased to $1,082,820, up from $988,828 as of March 31, 2025[20] - Total assets grew to $21,428,419, an increase from $20,479,170 as of March 31, 2025[20] - Cash and credit availability at the Moving and Storage segment was $1,376.0 million as of September 30, 2025, compared to $1,347.5 million at March 31, 2025[8] - Total property, plant, and equipment, net as of September 30, 2025, is $16,030,940, an increase of 5.1% from $15,251,298 as of March 31, 2025[30] - The total property, plant, and equipment at cost as of September 30, 2025, is $22,407,924, an increase of 4.8% from $21,372,286 as of March 31, 2025[30] Other Financial Metrics - Adjusted EBITDA for the trailing twelve months ending September 30, 2025, is $1,681,900, reflecting a 7.1% increase from $1,566,396 for the same period ending September 30, 2024[32] - Adjusted EBITDA for the second quarter of 2025 is $542,579, which is a 6.2% increase from $510,956 in the second quarter of 2024[33] - Interest expense for the quarter ended September 30, 2025, is $90,333, an increase of 25.9% from $71,750 in the same quarter of 2024[33] - The company reported net (gains) losses on disposal of real estate of $4,531 for the quarter ended September 30, 2025, compared to $2,991 in the same quarter of 2024, showing an increase of 51.5%[33] - The company’s income tax expense for the quarter ended September 30, 2025, is $27,324, down from $55,032 in the same quarter of 2024, indicating a decrease of 50.5%[33]
U-Haul pany(UHAL_B) - 2026 Q2 - Quarterly Results