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Mar 31, 2023
U-Haul Q4 2023 Earnings Report
U-Haul's financial performance for Q4 2023 decreased compared to the same period last year, with net earnings available to shareholders at $37.7 million.
Key Takeaways
U-Haul Holding Company reported net earnings available to shareholders of $37.7 million for the quarter ended March 31, 2023, a decrease compared to net earnings of $86.7 million for the same period last year. The decrease is attributed to moving activity returning to historic trends and self-storage growth slowing down. Total revenues increased $4.4 million, while total costs and expenses increased $43.9 million.
Self-moving equipment rental revenues decreased by $42.5 million, or 6%, compared to Q4 2022.
Self-storage revenues increased by $28.4 million, or 17%, compared to Q4 2022.
The average number of occupied self-storage units increased by 11%, or 51,600 units.
Occupancy for all self-storage locations decreased 1.4% to 81.2%.
Revenue by Segment
Forward Guidance
Capital expenditures for the rental fleet, depending upon manufacturer availability, are expected to increase in fiscal 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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