• Reported GAAP EPS of -$0.70 down -52.17% YoY • Reported revenue of $1.27B up 3.11% YoY • U-Haul Holding Company anticipates CapEx on rental trucks will likely decrease next year, moderating fleet depreciation. However, costs for built but unrented storage units will remain an increasing drain until more are rented.
Bullish
U-Haul Holding Company saw increased self-storage and rental revenues, improved adjusted EBITDA, and authorized a $350 million share repurchase plan, alongside expanding its network with 12 new locations.
Bearish
U-Haul Holding Company reported increased net losses and decreased Moving and Storage earnings, driven by higher depreciation and costs from unrented storage units, alongside increased total debt.