U-Haul Reports Significant Financial Losses Amid Insurance Performance

U-Haul Holding Company, which includes subsidiaries like U-Haul International, Oxford Life Insurance Company, Repwest Insurance Company, and Amerco Real Estate Company, recently unveiled its third-quarter financial results for fiscal 2026. The company reported a net loss of $37.0 million available to common shareholders, a stark contrast to the $67.2 million net profit in the same period last year. Earnings per share for Non-Voting Shares (UHAL.B) reflected this shift with a loss of $0.18, compared to a gain of $0.35 per share in 2025. During the nine-month period ending December 31, 2025, U-Haul’s earnings available to shareholders fell to $210.9 million, decreasing significantly from the previous year’s $449.4 million. This decline was mirrored in the earnings per share for Non-Voting Shares (UHAL.B), which dropped to $1.09 from $2.31. Chairman Joe Shoen pointed out that fleet depreciation and resale values negatively affected earnings, although he remains positive about the company's increased market penetration and strategic advancements in self-storage services. The third quarter saw robust income from self-moving equipment rentals and self-storage services. However, fluctuations in property and casualty insurance premiums and life insurance revenues impacted overall operating results. Consolidated revenues for the third quarter rose to $1.42 billion, up from $1.39 billion year-over-year. U-Haul highlighted the integral role of its insurance subsidiaries, such as Repwest and Oxford Life, in balancing its portfolio within the insurance industry. Property and casualty insurance revenues amounted to $42.5 million, with operational earnings hitting $20.8 million. Meanwhile, life insurance revenues reached $56.2 million, generating $5.8 million in operating earnings. As of December 31, 2025, U-Haul Holding Company managed assets totaling $18.72 billion. Its debt profile, comprising real estate secured, unsecured, and fleet secured debts, totaled $8.06 billion. The company's strong fixed debt allocation supports financial stability amidst fluctuating interest rates. U-Haul stands as North America's third largest self-storage operator, despite a slight decline in occupancy rates compared to the previous year. New facility additions have enhanced capacity. The company plans to discuss these findings and strategies during an investor call on February 5, 2026. Management aims to counter depreciation impacts and stay focused on enhancing customer-driven services. For comprehensive details and supplementary information on U-Haul’s financial activities, stakeholders are encouraged to visit the investor relations section on the U-Haul website.