U-Haul Q1 FY27 net earnings drop 13.63% to $122.9 million

Chairman Joe Shoen flagged a tepid pickup and van resale market, faster storage rent-up, and expansion of independent dealers to drive transactions and utilization.

Moving and Storage operating profit before insurance-subsidiary equity income edged down 3.34% to $234.8 million on higher fleet and real-estate depreciation.

Self-storage revenue climbed 6.8% to $250.2 million; same-store occupancy fell 4.5 percentage points to 88.3% as revenue per foot increased 7.6%.

U-Haul Holding Company first-quarter fiscal 2027 earnings available to common shareholders fell 13.63% to $122.9 million; UHAL.B EPS slipped to $0.63.

Revenue rose 3.16% to $1.68 billion, led by self-moving equipment rental revenue up 2.8% to $1.09 billion.