U-Haul Holding Co 8-K, filed Aug 5, 2026

U-Haul Holding Co (UHAL)

8-K 2026-08-05 For: 2026-08-05

View Original

Added on August 06, 2026

About this 8-K

U-Haul Holding Co filed this 8-K on August 5, 2026.

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


Nevada	001-11255	88-0106815
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

5555 Kietzke Lane Suite 100
Reno, Nevada		89511
(Address of Principal Executive Offices)		(Zip Code)


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.25 par value	UHAL	New York Stock Exchange
Series N Non-Voting Common Stock, $0.001 par value	UHAL.B	New York Stock Exchange


Exhibit No.	Description
99.1	Press release dated August 5, 2026
104	Cover Page Interactive Data File (embedded within the Inline XBRL documents)


			U-Haul Holding Company

Date:	August 5, 2026	By:	Jason A. Berg
			Jason A. Berg Chief Financial Officer


		Quarter Ended June 30,
		2026		2025
		(Unaudited)
		(In thousands)
Self-moving equipment rental revenues	$	1,087,578	$	1,058,273
Self-storage revenues		250,172		234,237
Self-moving and self-storage products and service sales		99,240		98,188
Property management fees		9,565		9,582
Life insurance premiums		18,066		19,169
Property and casualty insurance premiums		24,251		21,738
Net investment and interest income		37,368		35,211
Other revenue		155,787		154,072
Consolidated revenue	$	1,682,027	$	1,630,470

U-Haul Holding Co 8-K, filed Aug 5, 2026

About this 8-K

Items reported

FORM 8-K

Item 2.02 Results of Operations and Financial Condition.

Item 9.01 Financial Statements and Exhibits.


Moving and Storage
Debt Metrics
(In thousands, unaudited)	June 30,	March 31,	December 31,	September 30,	June 30,
	2026	2026	2025	2025	2025
Real estate secured debt	$3,196,940	$3,204,208	$3,096,564	$3,002,344	$2,727,545
Unsecured debt	1,700,000	1,700,000	1,700,000	1,700,000	1,700,000
Fleet secured debt	3,187,699	3,157,364	3,196,817	2,965,804	2,792,015
Other secured debt	62,245	63,377	64,798	64,357	65,570
Total debt	8,146,884	8,124,949	8,058,179	7,732,505	7,285,130

Cash and cash equivalents	$883,630	$1,014,382	$1,010,011	$910,969	$726,069
Total assets	18,885,168	18,687,591	18,717,342	18,460,371	17,858,535
Adjusted EBITDA (TTM)	1,637,311	1,645,859	1,640,173	1,681,900	1,650,277

Net debt to adjusted EBITDA	4.4	4.3	4.3	4.1	4.0
Net debt to total assets	38.5%	38.0%	37.7%	37.0%	36.7%

Percent of debt floating	8.4%	6.7%	6.8%	7.1%	6.1%
Percent of debt fixed	91.6%	93.3%	93.2%	92.9%	93.9%
Percent of debt unsecured	20.9%	20.9%	21.1%	22.0%	23.3%

Unencumbered asset ratio*	4.08x	3.98x	4.01x	3.96x	3.86x

* Unencumbered asset value compared to unsecured debt committed, outstanding or not. Unencumbered assets valued
at the higher of historical cost or allocated NOI valued at a 10% cap rate, minimum required is 2.0x


Self-Storage Portfolio Summary
As of June 30, 2026
(unaudited)
U-Haul Owned Store Data by State
				Annual
State/		Units	Rentable	Revenue	Occupancy
Province	Stores	Occupied	Square Feet	Per Foot	During Qtr
Texas	102	37,612	4,937,884	$16.22	68.1%
Florida	93	34,775	4,282,690	$19.53	69.0%
California	90	35,348	3,385,898	$22.90	80.3%
Illinois	86	41,257	4,517,046	$17.35	76.3%
Pennsylvania	76	29,717	3,255,737	$18.81	71.4%
Ohio	68	26,866	3,152,368	$15.74	72.8%
New York	67	29,656	2,744,132	$24.34	80.4%
Michigan	61	20,872	2,399,534	$16.82	77.0%
Georgia	57	21,849	2,869,994	$17.07	71.1%
Arizona	53	24,281	3,258,082	$17.13	66.5%
Wisconsin	44	17,232	2,079,153	$14.73	72.0%
Missouri	43	15,343	2,043,099	$14.90	65.8%
North Carolina	42	17,893	2,270,695	$16.26	65.5%
Washington	39	14,483	1,672,602	$18.40	71.0%
Tennessee	38	15,302	1,708,974	$15.83	79.7%
Minnesota	35	14,130	1,773,948	$14.52	71.8%
New Jersey	34	16,290	1,593,010	$21.75	79.6%
Indiana	34	11,215	1,190,289	$14.95	82.0%
Ontario	33	12,779	1,448,676	$24.11	69.2%
Alabama	32	8,672	1,312,958	$14.15	56.6%

Top 20 Totals	1,127	445,572	51,896,768	$18.00	72.4%

All Others	515	195,004	22,845,007	$17.87	73.9%

1Q 2027 Totals	1,642	640,576	74,741,775	$17.96	72.9%

Same Store 1Q27	973	370,663	35,677,662	$18.82	88.3%
Same Store 1Q26	973	390,032	35,651,823	$17.49	92.8%
Same Store 1Q25	973	393,297	35,632,735	$17.04	92.9%

Non-Same Store 1Q27	669	269,913	39,064,113	$16.78	58.6%
Non-Same Store 1Q26	600	250,821	33,908,110	$15.97	62.5%
Non-Same Store 1Q25	520	212,004	27,953,187	$16.03	63.4%

Same Store Pool Held Constant for Prior Periods
Same Store 1Q27	973	370,663	35,677,662	$18.82	88.3%
Same Store 1Q26	902	390,032	30,412,656	$17.44	92.8%
Same Store 1Q25	879	393,297	28,263,627	$17.05	93.9%

Non-Same Store 1Q27	669	269,913	39,064,113	$16.78	58.6%
Non-Same Store 1Q26	671	309,884	39,147,277	$16.31	66.7%
Non-Same Store 1Q25	614	294,476	35,322,294	$16.28	69.0%

Note: Store Count, Units, and NRSF figures reflect active storage locations for the last month of the reporting quarter.
Occupancy % reflects average occupancy during the reporting quarter.
Revenue per foot is average revenue per occupied foot over the trailing twelve months ending June 2026.
Same store includes storage locations with rentable storage inventory for more than three years and a capacity
change of less than twenty units for any year-over-year period of the reporting month.
The locations have occupancy each month during the last three years and have achieved 80% or greater occupancy for the last two years
Prior year Same Store figures are for locations meeting the Same Store criteria as of the prior year reporting month.


		For the Quarter Ended
		June 30,
		2026		2025
		(Unaudited)
		(In thousands, except share and per share amounts)

Weighted average shares outstanding of Voting Common Stock		19,545,696		19,607,788
Total weighted average shares outstanding for Voting Common Stock and Non-Voting Common Stock		195,869,719		196,077,880
Percent of weighted average shares outstanding of Voting Common Stock		10%		10%

Net earnings available to common stockholders	$	122,929	$	142,331
Voting Common Stock dividends declared		–		–
Non-Voting Common Stock dividends declared		(8,813)		(8,824)
Undistributed earnings available to common stockholders	$	114,116	$	133,507
Undistributed earnings available to common stockholders allocated to Voting Common Stock	$	11,412	$	13,351

Undistributed earnings per share of Voting Common Stock	$	0.58	$	0.68
Dividends declared per share of Voting Common Stock	$	–	$	–
Basic and diluted earnings per share of Voting Common Stock	$	0.58	$	0.68


Weighted average shares outstanding of Non-Voting Common Stock		176,324,023		176,470,092
Total weighted average shares outstanding for Voting Common Stock and Non-Voting Common Stock		195,869,719		196,077,880
Percent of weighted average shares outstanding of Non-Voting Common Stock		90%		90%

Net earnings available to common stockholders	$	122,929	$	142,331
Voting Common Stock dividends declared		–		–
Non-Voting Common Stock dividends declared		(8,813)		(8,824)
Undistributed earnings available to common stockholders	$	114,116	$	133,507
Undistributed earnings available to common stockholders allocated to Non-Voting Common Stock	$	102,704	$	120,156

Undistributed earnings per share of Non-Voting Common Stock	$	0.58	$	0.68
Dividends declared per share of Non-Voting Common Stock	$	0.05	$	0.05
Basic and diluted earnings per share of Non-Voting Common Stock	$	0.63	$	0.73


Moving and Storage EBITDA Calculations
(In thousands, unaudited)		Trailing Twelve Months
		June 30,		March 31,		December 31,		September 30,		June 30,
		2026		2026		2025		2025		2025

Net earnings available to common stockholders	$	63,726	$	83,128	$	128,622	$	232,756	$	314,004
Income tax expense		5,661		10,341		11,714		48,448		76,156
Fees on early extinguishment of debt and costs of defeasance		1,113		1,108		189		26		26
Interest expense		380,449		364,868		348,914		330,192		311,609
Other interest income		(46,295)		(47,597)		(40,881)		(45,759)		(51,899)
Other components of net periodic benefit costs		1,394		1,383		1,409		1,435		1,462
Net losses on disposal of real estate		13,296		8,611		11,915		12,577		11,037
Depreciation, net of gains on disposals		1,281,852		1,287,021		1,238,114		1,158,986		1,045,648
Elimination of net earnings from insurance subsidiaries		(63,885)		(63,004)		(59,823)		(56,761)		(57,766)
Adjusted EBITDA	$	1,637,311	$	1,645,859	$	1,640,173	$	1,681,900	$	1,650,277


Moving and Storage EBITDA Calculations
(In thousands, unaudited)		Quarters Ended
		June 30,		June 30,
		2026		2025

Net earnings available to common stockholders	$	122,929	$	142,331
Income tax expense		35,406		40,086
Fees on early extinguishment of debt and costs of defeasance		31		26
Interest expense		97,939		82,358
Other interest income		(9,463)		(10,765)
Other components of net periodic benefit costs		357		346
Net losses on disposal of real estate		3,068		(1,617)
Depreciation, net of gains on disposals		298,840		304,009
Elimination of net earnings from insurance subsidiaries		(12,385)		(11,504)
Adjusted EBITDA	$	536,722	$	545,270


		Quarter Ended June 30,
		2026		2025
		(Unaudited)
		(In thousands)
Moving and storage
Revenues	$	1,601,949	$	1,553,859
Earnings from operations before equity in earnings of subsidiaries		234,814		242,878
Property and casualty insurance
Revenues		31,223		29,721
Earnings from operations		12,216		11,888
Life insurance
Revenues		51,476		50,094
Earnings (losses) from operations		3,593		2,676
Eliminations
Revenues		(2,621)		(3,204)
Earnings from operations before equity in earnings of subsidiaries		(27)		(28)
Consolidated Results
Revenues		1,682,027		1,630,470
Earnings from operations		250,596		257,414


	Quarter Ended June 30,
	2026	2025
	(Unaudited)
	(In thousands, except occupancy rate)
Unit count as of June 30	867	813
Square footage as of June 30	74,742	69,560
Average monthly number of units occupied	628	632
Average monthly occupancy rate based on unit count	72.9%	78.1%
End of June occupancy rate based on unit count	73.9%	78.8%
Average monthly square footage occupied	55,937	55,399


		June 30,		March 31,
		2026		2026
		(Unaudited)
		(In thousands)
ASSETS
Cash and cash equivalents	$	1,097,336	$	1,120,147
Trade receivables and reinsurance recoverables, net		190,912		159,768
Inventories and parts		180,325		178,155
Prepaid expenses		137,688		191,671
Fixed maturity securities available-for-sale, net, at fair value		2,321,038		2,417,912
Equity securities, at fair value		14,724		14,976
Investments, other		655,316		706,314
Deferred policy acquisition costs, net		110,550		112,852
Other assets		146,498		127,202
Right of use assets - operating, net		38,833		40,188
Related party assets		44,141		53,159

Property, plant and equipment, at cost:
Land		1,866,794		1,865,369
Buildings and improvements		10,727,955		10,542,945
Furniture and equipment		1,087,938		1,074,032
Rental trailers and other rental equipment		1,239,808		1,206,253
Rental trucks		8,876,256		8,554,508
		23,798,751		23,243,107
Less: Accumulated depreciation		(7,074,624)		(6,862,662)
Total property, plant and equipment, net		16,724,127		16,380,445
Total assets	$	21,661,488	$	21,502,789
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Accounts payable and accrued expenses	$	909,147	$	850,294
Notes, loans and finance liabilities payable, net		8,105,429		8,083,374
Operating lease liabilities		39,577		40,957
Policy benefits and losses, claims and loss expenses payable		947,870		939,874
Liabilities from investment contracts		2,335,870		2,357,545
Other policyholders' funds and liabilities		2,451		2,899
Deferred income		69,269		56,614
Deferred income taxes, net		1,592,072		1,559,581
Total liabilities		14,001,685		13,891,138