earnings
confidence high
sentiment negative
materiality 0.75
U-Haul FY 2023 net earnings $923M, down 18% YoY; Q4 net earnings $37.7M
U-Haul Holding Co /NV/
- Full-year net earnings $923.0M vs $1,123.3M last year; Q4 net earnings $37.7M vs $86.7M.
- Self-moving equipment rental revenue fell 2% for full year, 6% in Q4.
- Self-storage revenue up 21% for full year; occupancy down 1.4% to 81.2%.
- Rental fleet capex ~$1,299M in FY 2023; expected to increase in FY 2024.
- Filed 10-K extension; expects to file by June 2, 2023.