Core Insights - Good Greek Moving & Storage has been named the first official movers of UFC, marking a significant marketing partnership that will enhance brand visibility during UFC events [1][2] Company Overview - Good Greek Moving & Storage is recognized as the World's Only Total Relocation Company, offering a wide range of services including moving, storage, realty, insurance, junk removal, automobile transport, pet transport, and concierge services [5][6] - The company is headquartered in Palm Beach County, Florida, and is expanding both nationally and globally, serving as official movers for over 20 major sports organizations [7] Partnership Details - The partnership with UFC includes prominent branding opportunities at selected UFC Fight Nights and Dana White's Contender Series, providing strong visibility for Good Greek [2][3] - An annual Brand Ambassador program will be established to enhance the partnership through appearances and creative campaigns involving UFC athletes [3] Industry Context - UFC is a leading mixed martial arts organization with over 700 million fans and approximately 330 million social media followers, producing more than 40 live events annually [4] - The partnership aligns with UFC's strategy to engage with diverse industries and enhance its marketing reach [2]

Core Insights - The Dallas-Fort Worth-Arlington metropolitan area has been recognized as the top U-Haul growth metro for 2025, replicating its 2024 achievement with the highest net gain of one-way customers [1] - Texas dominates the U-Haul Growth Index, holding the top three spots and six of the top 25 growth metros, while Florida has eight of the top 10 growth cities [2][4] - The city of Ocala, Florida, continues to lead as the top U-Haul growth city, a title it has maintained since 2022 [1][4] U-Haul Growth Metros - The top three growth metros in 2025 are Dallas, Houston, and Austin, with additional notable metros including Charlotte, Phoenix, and Nashville [6] - The complete list of top 10 growth metros includes Dallas, Houston, Austin, Charlotte, Phoenix, Nashville, Charleston, Raleigh, Atlanta, and the Brownsville-McAllen corridor [6] U-Haul Growth Cities - Florida cities dominate the growth city rankings, with Ocala, North Port, Myrtle Beach, Kissimmee, and Clermont in the top five [7] - Other notable growth cities include McKinney, Fort Lauderdale, and St. Augustine, with several smaller cities making their debut in the index [5][7] Migration Trends - Some major metros, such as San Francisco, Denver, and Philadelphia, reversed recent migration trends, showing strong net gains in 2025 after experiencing losses in 2024 [3] - The U-Haul Growth Index is based on over 2.5 million annual one-way transactions, providing insights into migration patterns across the U.S. and Canada [8]

Core Insights - Texas and Florida are the leading states for in-migration according to the U-Haul® Growth Index for 2025, while California has the highest out-migration for the sixth consecutive year [1] - Texas has reclaimed the title of the No. 1 U-Haul growth state for the seventh time in the last ten years, moving up one position from its previous ranking [1] - South Carolina, which was the leading growth state in 2024, has dropped four spots in the current ranking [1] Migration Trends - The U-Haul® Growth Index analyzes one-way customer transactions, indicating significant migration patterns across states [1] - California's continued out-migration highlights ongoing demographic shifts and potential economic implications for the state [1] - The rankings reflect broader trends in population movement, with Texas and Florida benefiting from in-migration while California faces challenges [1]

Group 1 - U-Haul Holding Company reported consolidated revenue of $1.71 billion for Q2 2026, an increase from $1.65 billion in Q2 2025, with self-moving equipment rental revenues rising by $23.1 million year-over-year [1] - Earnings from operations decreased to $217.6 million in Q2 2026 compared to $302.0 million in Q2 2025, while total costs and expenses rose by $146.2 million year-over-year [2] - The depreciation expense related to the rental fleet increased by $50.6 million year-over-year due to a rise in the number of box trucks and anticipated decreases in resale values [3] Group 2 - U-Haul added 23 locations with storage, translating to approximately 1.6 million new net rentable square feet, with 6.5 million square feet actively developed across 116 projects [3]

Core Insights - U-Haul reported Q3 CY2025 revenue of $1.72 billion, reflecting a 3.7% year-on-year growth, meeting Wall Street expectations, but GAAP profit of $0.49 per share fell 24.6% short of analyst estimates [1][6] Financial Performance - Revenue: $1.72 billion vs analyst estimates of $1.73 billion, representing a 3.7% year-on-year growth [6] - EPS (GAAP): $0.49 vs analyst expectations of $0.65, a 24.6% miss [6] - Adjusted EBITDA: $523.9 million vs analyst estimates of $569.5 million, with a margin of 30.5%, an 8% miss [6] - Operating Margin: 12.9%, down from 18.4% in the same quarter last year [6] - Market Capitalization: $9.61 billion [6] Operational Challenges - Increased depreciation expenses and losses on equipment sales significantly impacted profit, attributed to high purchase prices of trucks now facing lower resale values [3][7] - Management highlighted the need for fleet refreshes, with Chairman Edward Shoen noting the high costs associated with acquiring new trucks [3][7] Strategic Initiatives - U-Haul is expanding its dealer network, surpassing 25,000 independent dealer locations, which is expected to enhance inventory deployment and support growth in moving transactions [7] - The company is focusing on growing its U-Box and self-storage businesses, which are viewed as future profit drivers despite high competition in the storage sector [4][8] Future Outlook - Management anticipates continued near-term pressure from depreciation and residual values but sees potential benefits from lower new vehicle prices as the market resets [4] - Efforts to control repair and maintenance costs are underway, with plans to stabilize margins in the coming quarters [8]

Financial Data and Key Metrics Changes - The company reported second-quarter earnings of $106 million, down from $187 million in the same quarter last year, resulting in a decrease in earnings per share (EPS) from $0.96 to $0.54 [7][8] - Adjusted EBITDA in the moving and storage segment increased by 6%, or nearly $32 million, driven by revenue growth across all product lines [8][11] - The largest difference between adjusted EBITDA and GAAP earnings was attributed to depreciation, with a reported loss of $38 million on the disposal of retired rental equipment compared to an $18 million gain last year [9][10] Business Line Data and Key Metrics Changes - Equipment rental revenue increased by $23 million, or about 2%, despite a decrease in overall transactions [10] - Self-storage revenues rose nearly $22 million, or about 10%, with average revenue per foot improving by just under 5% [11][12] - The company added 23 storage locations, translating to approximately 1.6 million new net rentable square feet [13] Market Data and Key Metrics Changes - Same store occupancy decreased by 350 basis points to 90.5%, primarily due to the removal of delinquent tenants [12] - The company has added nearly 1,000 new independent dealer locations in the past 12 months, surpassing 25,000 total locations for the first time [10] Company Strategy and Development Direction - The company is focused on expanding its dealer network to improve truck and trailer inventory balance and increase demand [4][10] - Management is prioritizing expanding the self-storage footprint over increasing depth, indicating a competitive environment with strong price sensitivity among customers [5][33] - The company is optimistic about the potential benefits from reduced regulations affecting the transportation economy [6] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges with increased depreciation and repair costs, but expressed confidence in the long-term stability of various business lines [4][6] - The company expects to see visible results from its dealer network expansion by May, with significant opportunities for increased market penetration [32][34] - Management noted that existing home sales are unlikely to significantly boost one-way rentals or U-Box growth, citing consumer uncertainty [40] Other Important Information - Capital expenditures for new rental equipment for the first six months of the year were $1,325 million, up $169 million from the previous year [11] - The company has invested $526 million in real estate acquisitions and self-storage development during the first half of fiscal 2026, down $208 million from the same period last year [13] Q&A Session Summary Question: Clarification on depreciation method - Management explained that they use a dynamic depreciation model for box trucks and a straight-line method for cargo vans, with current depreciation rates reflecting market conditions [18][19] Question: Expectations for peak depreciation expenses - Management anticipates box truck depreciation to peak towards the end of this year, while cargo van prices are expected to decrease [21][22] Question: Competitive intensity in self-storage - Management noted that competitive pricing strategies among competitors are causing a "slugfest" in the self-storage market, with a focus on maintaining customer expectations [36][37] Question: U-Box revenue growth and market share - Management confirmed that U-Box is gaining market share and is positioned for significant future growth, with profitability expected to improve as occupancy increases [63][65] Question: Impact of tariffs on vehicle costs - Management indicated that while there are concerns about tariffs, they have not yet seen significant impacts on vehicle pricing [54][56]

Group 1 - U-Haul is opening a new repair shop in North Little Rock, creating at least 24 jobs for the local community [1] - The new facility spans 30,000 square feet and is located on a 13-acre parcel acquired in 2024 [1] - Operations at the repair shop will focus on routine maintenance and repairs for regional fleet equipment [1] Group 2 - Future plans for the remaining land include a three-story retail, moving and self-storage center, and a warehouse [1]

Core Points - U-Haul Company of Eastern Florida is providing 30 days of free self-storage and U-Box container usage to assist flood victims in Brevard County [1][2][4] - The initiative is part of U-Haul's commitment to disaster relief and community support, positioning the company as an official American Red Cross Disaster Responder [4] Company Overview - U-Haul is celebrating its 80th anniversary in 2025 and operates over 24,000 rental locations across the U.S. and Canada [5] - The company has a fleet of 197,500 trucks, 137,200 trailers, and 41,300 towing devices, making it the third largest self-storage operator in North America with 1,093,000 rentable storage units [6] - U-Haul is also the top retailer of propane in the U.S. and the largest installer of permanent trailer hitches in the automotive aftermarket industry [6] Disaster Relief Program - The 30 days free offer is applicable to new self-storage and U-Box rentals, subject to availability at participating locations [3] - U-Haul has made specific centers available for this program, including locations in Cocoa, Melbourne, and Titusville [4]

Financial Data and Key Metrics Changes - The company reported first quarter earnings of $142 million, down from $195 million in the same quarter last year, resulting in an EPS of $0.73 compared to $1 last year [5] - Adjusted EBITDA for the Moving and Storage segment increased by 6%, or nearly $31 million, driven by strong revenue growth across all product lines [5] - A $22 million loss was recorded on the disposal of retired rental equipment, compared to an $8 million gain last year, attributed to higher initial costs and lower resale values [6] Business Line Data and Key Metrics Changes - Equipment rental revenue increased by $44 million, just over 4%, with revenue per transaction rising for both in-town and one-way markets [7] - Storage revenues were up $19 million, representing a 9% increase for the quarter, with average revenue per foot improving by just over 1% [8] - U Box revenue increased by $21 million, with U Box itself up about 16%, indicating success in increasing moving transactions and storage container usage [12] Market Data and Key Metrics Changes - Same store occupancy decreased by 100 basis points to just under 93%, with efforts underway to increase available rooms by focusing on delinquent units [10] - The company added 15 locations with approximately 1.2 million new net rentable square feet, with 6.5 million square feet currently under development across 124 projects [11] Company Strategy and Development Direction - The company is focusing on increasing the number of available rooms at existing locations and improving the U Box service, which is seen as a growing area with potential for significant expansion [22] - Capital expenditures for new rental equipment were $585 million, a $46 million increase compared to the same time last year, indicating a commitment to fleet expansion [8] - The company aims to rationalize capital allocation while continuing to invest in self-storage and U Box warehouse development [43] Management's Comments on Operating Environment and Future Outlook - Management noted that while revenue is trending positively, transaction volumes have not yet seen significant improvement [7][56] - The company is facing challenges in placing new equipment efficiently across its expanded network of locations, which has increased significantly over the past two years [53] - Future revenue growth from existing storage locations is projected to be substantial, with estimates suggesting around $260 million could flow to the bottom line as occupancy improves [39] Other Important Information - The company will hold its nineteenth Annual Virtual Analyst and Investor Meeting on August 21, providing an opportunity for direct interaction with company representatives [13] - Management emphasized the importance of understanding the U Box product and service as it continues to grow, indicating optimism about its future potential [21] Q&A Session Summary Question: U Box growth potential - Management believes U Box could grow significantly, potentially matching the size of traditional U Haul services, but consumer understanding of the product is still developing [21][22] Question: U Box one-way moves compared to rental segment - U Box one-way transactions are growing faster than truck rental transactions, indicating a decoupled performance between the two segments [32] Question: Margin trends and storage segment dynamics - Management noted that headwinds affecting margins are primarily truck-related, with increased liability costs and depreciation impacting earnings [40][42] Question: Future revenue from storage and development costs - Approximately 80% of additional revenue from non-same store locations is expected to flow to the bottom line, with development costs estimated at around $150 per square foot [59][64]