U-Haul Q1 net earnings $195.4M, down 24% YoY; EPS $1.00 vs $1.31

U-Haul Holding Co /NV/

Net earnings available to common shareholders fell to $195.4M from $256.8M YoY; diluted EPS $1.00 vs $1.31.
Self-moving equipment rental revenues up 1.5% ($15.1M), first YoY improvement in eight quarters.
Self-storage revenues rose 8.4% ($16.8M); same-store occupancy down 1.2% to 93.9%.
Moving & Storage operating earnings (ex-interest) dropped $64.3M partly due to $47.9M lower gains on rental equipment disposals.
Cash & credit availability at Moving and Storage segment $1,566.8M, down from $1,886.3M at March 31, 2024.

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