U-Haul Holding Company reported its financial results for the second quarter and first half of fiscal 2026, revealing a total revenue of $1.72 billion for the quarter ended September 30, 2025, a 3.7% increase from $1.66 billion in the same period last year. For the first six months, revenue reached $3.35 billion, up from $3.21 billion in the prior year. The company's net earnings available to common stockholders for the quarter were $105.6 million, down from $186.8 million a year earlier, while for the first half, net earnings were $247.9 million compared to $382.2 million in the previous year.
The company experienced notable changes in its revenue streams, particularly in self-moving equipment rental and self-storage services. Self-moving equipment rental revenues increased by $23.1 million to $1.11 billion, driven by higher transaction volumes and an expanded rental fleet. Self-storage revenues also rose by $21.8 million to $246.3 million, attributed to increased occupancy and the addition of new storage capacity. However, life insurance premiums decreased by $2.1 million to $18.4 million, primarily due to lower sales in Medicare supplement products.
U-Haul's operational metrics showed a significant increase in costs, with total expenses rising by $146.2 million to $1.50 billion for the quarter. This increase was largely due to higher operating expenses in the Moving and Storage segment, which included a $50.6 million rise in depreciation expenses related to the rental fleet. The company also reported a substantial increase in net losses from the disposal of rental equipment, which rose by $56.1 million, reflecting decreased resale values.
In terms of strategic developments, U-Haul continued to expand its geographic footprint and product offerings. The company added approximately 1.6 million new net rentable square feet of self-storage space during the quarter, contributing to its growth strategy. The company also emphasized its commitment to sustainability and operational efficiency, leveraging technology to enhance customer service through initiatives like the Truck Share 24/7 mobile app.
Looking ahead, U-Haul expressed optimism about its growth trajectory, focusing on increasing transaction volumes and improving pricing for self-moving equipment rentals. The company plans to invest significantly in its rental fleet and expand its U-Box program, which has seen increased demand. However, U-Haul acknowledged potential challenges, including inflationary pressures and competition, which could impact its operating margins. The company remains committed to maintaining a strong capital structure to support its operational goals and future investments.
About U-Haul Holding Co /NV/
U-Haul Holding Company is North America's leading provider of do-it-yourself moving and storage solutions. It offers truck and trailer rentals, self-storage units, moving supplies, and towing accessories through a vast network of retail stores and independent dealers. The company emphasizes convenience, sustainability, and innovation, serving residential and commercial customers across the U.S. and Canada with integrated products, services, and digital platforms.
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