U-Haul Holding Company reported a consolidated revenue of $5.83 billion for the fiscal year ending March 31, 2025, marking an increase of 3.6% from $5.63 billion in the previous fiscal year. The company's net earnings available to common stockholders were $367.1 million, a decline from $628.7 million in fiscal 2024. This decrease in profitability was attributed to rising operating expenses, which increased by $464.6 million, primarily driven by higher personnel costs, property taxes, and maintenance expenses, despite a reduction in repair costs associated with the rental fleet.
In terms of operational metrics, U-Haul's self-moving equipment rental revenues rose to $3.73 billion, up from $3.62 billion in the prior year, reflecting improved transaction volumes and revenue per transaction. The self-storage segment also saw growth, with revenues increasing to $897.9 million, a 8% rise compared to $831.1 million in fiscal 2024. The average monthly occupancy rate for self-storage units improved by 6.2%, indicating a positive trend in customer demand. However, sales of self-moving and self-storage products decreased slightly, attributed to a change in property management structure following the acquisition of 78 self-storage locations by Mercury Partners.
U-Haul continued to expand its geographic footprint, operating nearly 2,400 retail locations and over 21,600 independent dealers across North America. The company also reported a significant increase in its rental fleet, with approximately 192,100 trucks and 137,500 trailers as of March 31, 2025. The workforce grew to approximately 35,100 employees, reflecting the company's commitment to enhancing customer service and operational efficiency.
Looking ahead, U-Haul plans to maintain a high level of capital investment in its rental equipment fleet, with an estimated $1.3 billion earmarked for fiscal 2026. The company aims to increase transaction volume and improve pricing for self-moving equipment rentals while continuing to expand its self-storage operations. However, U-Haul acknowledged potential challenges from inflationary pressures and competitive market conditions that could impact its operating margins and overall financial performance.
About U-Haul Holding Co /NV/
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