U-Haul pany(US:UHAL)2025-08-21 17:02Financial Data and Key Metrics Changes - The company reported a modest increase in equipment rental revenue year over year, indicating a gradual improvement in moving customer optimism, although it is not yet sufficient to declare a positive trend [15] - The depreciation on the fleet reflects higher costs for replacement equipment and additional investments made to increase fleet capacity, which will continue to impact the company into fiscal year 2026 [16] Business Line Data and Key Metrics Changes - The company added 6,500,000 net rentable square feet of self-storage during the fiscal year, increasing covered storage capacity by nearly 25% [16] - Consumer awareness for U Box as both a moving product and storage solution continues to grow, indicating its importance in the company's future [16] Market Data and Key Metrics Changes - The company surpassed 24,000 rental locations across the United States and Canada, which is a significant strength in its distribution network [15] Company Strategy and Development Direction - The company is focused on attracting talent and ensuring its survival and prosperity by expanding the knowledge and ranks of its personnel [17] - The management emphasizes the importance of affirming the actions of officers and directors to attract talent and reduce potential legal disputes over past decisions [21][22] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that while there is an improvement in customer optimism, it is not yet strong enough to indicate a definitive positive trend [15] - The company is entering its eightieth year in business, which reflects its long-standing presence and commitment to growth [17] Other Important Information - The company conducted its annual meeting both in person and via live webcast as part of its sustainability initiatives, which has been in practice for nineteen years [4] - Preliminary voting results showed that over 17,200,000 shares were voted, representing more than 87% of eligible shares, with all board nominees receiving over 91% of votes cast [18] Q&A Session Summary Question: Why does the company ask shareholders to ratify the actions of officers and directors? - Management explained that this practice is common in private organizations but uncommon in public ones, and it aims to attract talent by reducing the risk of lawsuits over past decisions [21][22] Question: Is this ratification process unpopular among shareholders? - Management acknowledged that it is the least popular motion among shareholders but emphasized its importance for maintaining good governance and attracting talent [21][22]