U-Haul Holding Company reported second quarter fiscal 2027 revenue of $1.77 billion and EPS of $0.71, both missing analyst estimates. While consolidated revenues grew 3% year-over-year, profitability was hindered by a $24.4 million spike in freight and shipping costs and a $10.2 million rise in personnel expenses. Management noted that reinvestment continues at an "appropriately slower pace" as the company navigates the current economic environment.
Key Highlights
- Same-store self-storage occupancy improved sequentially to 89.5% from 88.3% in the previous quarter, indicating a stabilization in the segment.
- Moving and Storage operating earnings rose $44.5 million to $241.9 million, primarily driven by a $34.1 million reduction in losses from the disposal of retired rental equipment.
- Self-moving equipment rental revenue increased 3.4% to $1.15 billion, supported by growth in In-Town transactions and higher revenue per transaction across both In-Town and One-Way markets.
- Capital allocation included $78.3 million in share repurchases and the declaring of a $0.05 per share cash dividend for non-voting common stock.