AMERCO ( (UHAL) ) has released its Q2 earnings. Here is a breakdown of the information AMERCO presented to its investors.
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U-Haul Holding Company, a leader in the shared-use business sector, operates through subsidiaries including U-Haul International, Oxford Life Insurance, Repwest Insurance, and Amerco Real Estate, providing moving and storage solutions across North America.
U-Haul Holding Company reported a decline in net earnings for the second quarter of fiscal 2026, with earnings available to common shareholders dropping to $105.6 million from $186.8 million in the same period last year. Despite an increase in revenues from major product lines, the company faced challenges with increased fleet depreciation and losses on the sale of retired equipment.
Key financial metrics revealed a decrease in moving and storage earnings from operations by $83.3 million, attributed to higher depreciation and equipment disposal losses. However, EBITDA for moving and storage saw an increase, reflecting a $31.6 million rise to $542.6 million. Self-storage revenues grew by 9.7%, and the company expanded its footprint with 23 new locations, adding 1.6 million net rentable square feet.
Looking ahead, U-Haul Holding Company remains optimistic about its core business, with plans to continue renting trucks and expanding its self-storage facilities. The management is focused on navigating the current financial challenges while leveraging growth opportunities in the moving and storage industry.