U-Haul Reports 3.2% Revenue Growth to $1.682 Billion in Q1 Fiscal 2027

U-Haul Holding Company reported its financial results for the first quarter of fiscal 2027, ending June 30, 2026, revealing total revenues of $1.682 billion, a 3.2% increase from $1.630 billion in the same period last year. The company's net earnings available to common stockholders were $122.9 million, down from $142.3 million in the prior year, resulting in basic and diluted earnings per share of $0.58 and $0.63, respectively. The decrease in net earnings was attributed to increased operating expenses, which rose to $1.431 billion from $1.373 billion, driven by higher costs in personnel, repairs, and freight.

In terms of operational performance, U-Haul's self-moving equipment rental revenues increased by $29.3 million to $1.088 billion, while self-storage revenues grew by $15.9 million to $250.2 million. The company also reported a 6.2% improvement in average revenue per occupied foot in its self-storage segment, alongside the addition of approximately 1.1 million new net rentable square feet. However, life insurance premiums decreased by $1.1 million to $18.1 million, primarily due to reduced sales.

U-Haul's total assets increased to $21.661 billion as of June 30, 2026, compared to $21.503 billion at the end of the previous quarter. The company’s cash and cash equivalents stood at $1.097 billion, a slight decrease from $1.120 billion. The company also reported a total employee headcount of 19,224 as of August 3, 2026, reflecting its ongoing commitment to expanding its workforce to support growth initiatives.

Strategically, U-Haul has continued to invest in its rental fleet and self-storage facilities, with capital expenditures for the quarter amounting to $822.4 million, down from $916.6 million in the same quarter last year. The company has also initiated a stock repurchase program, authorizing up to $350 million in share buybacks, with $48.2 million already utilized in the first quarter. Looking ahead, U-Haul aims to maintain its leadership in the moving and storage industry by focusing on increasing transaction volumes, improving pricing, and expanding its service offerings, while navigating potential challenges from inflation and competition.