U-Haul Aims for Unprecedented Dealer Growth While Managing $107M Cost Surge Amid Rising Self-Storage Competition
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 06 2025
0mins
Should l Buy UHAL?
Source: SeekingAlpha
Management Insights: U-Haul's CEO Edward Shoen highlighted challenges from increased depreciation and losses on equipment sales, while emphasizing efforts to expand the dealer network to balance inventory and drive demand. CFO Jason Berg reported a significant drop in second-quarter earnings compared to the previous year, alongside rising operational costs.
Financial Performance: The company reported second-quarter earnings of $106 million, down from $187 million the previous year, with adjusted EBITDA in the Moving and Storage segment increasing by nearly $32 million. Equipment rental revenue rose slightly, while self-storage revenues also saw growth despite declining occupancy rates.
Outlook and Strategy: Management anticipates that expanding the dealer network will enhance market penetration, with expected results by mid-2026. They project that depreciation costs will peak soon, and they remain optimistic about the growth potential of U-Box and self-storage despite current challenges.
Risks and Concerns: Elevated depreciation and equipment losses are expected to continue impacting earnings, alongside rising repair and maintenance costs. Management acknowledged competitive pressures in self-storage and the risk of market saturation, while stressing the importance of operational efficiency and selective expansion.
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Analyst Views on UHAL
Wall Street analysts forecast UHAL stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 47.120
Low
80.00
Averages
80.00
High
80.00
Current: 47.120
Low
80.00
Averages
80.00
High
80.00
About UHAL
U-Haul Holding Company is a do-it-yourself moving and storage operator through its subsidiary U-Haul International, Inc. (U-Haul). Its primary focus is to provide its customers with a selection of moving rental equipment, convenient self-storage rental facilities and portable moving and storage units and related moving and self-storage products and services. Its segments include Moving and Storage, Property and Casualty Insurance, and Life Insurance. The Moving and Storage segment consists of the rental of trucks and trailers, portable moving and storage units, specialty rental items and self-storage spaces primarily to the household mover, as well as sales of moving supplies, towing accessories and propane. Its Property and Casualty Insurance segment provides loss adjusting and claims handling for U-Haul through regional offices in the United States and Canada. The Life Insurance segment provides life and health insurance products primarily for the senior market.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Facility Opening: U-Haul's self-storage facility in Rossford held its ribbon-cutting ceremony on March 28, marking the completion of 431 climate-controlled storage rooms and the creation of 10 jobs, enhancing local economic vitality.
- Price Lock Commitment: U-Haul introduced a 1-Year Price Lock policy, ensuring tenants will not face rent increases for the next year, which boosts customer trust and differentiates the company from competitors facing scrutiny for deceptive pricing.
- Facility Scale and Services: The new facility spans nine acres and offers 1,067 storage units along with various services, including indoor storage, a retail showroom, and hitch installation services, addressing the growing storage demand in the Rossford area.
- Community Support and Hiring: U-Haul is committed to prioritizing local hiring, especially for veterans and military members, reflecting the company's support and responsibility to the community while providing more job opportunities for residents.
See More
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- Widespread Facility Distribution: Currently, U-Haul operates five self-storage centers in Hawaii, located on Oahu, Maui, and the Big Island, ensuring that affected residents can conveniently access storage services, thereby increasing the company's service coverage in the region.
- Long-Term Price Lock: In addition to the free storage service, U-Haul has introduced a 1-Year Price Lock program available at 2,100 facilities across the U.S. and Canada, ensuring customers will not face price increases for a year, which enhances customer trust and loyalty.
- Community Responsibility: As an official American Red Cross Disaster Responder, U-Haul demonstrates its commitment to supporting communities during emergencies, further solidifying its leadership position in disaster relief and enhancing its brand image.
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- List of Oversold Stocks: Based on momentum indicators, U-Haul Holding (UHAL) has a Relative Strength Index (RSI) of 30 with a 16-day performance drop of 10.2%; Smiths Group (SMGZY) also at RSI 30, down 13.98%; and GXO Logistics (GXO) at RSI 30, down 15.7%.
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- Community Support Commitment: Jim Smith, president of U-Haul Co. of Tulsa, stated that the team is ready to provide dry and secure storage solutions for those impacted by the storms, highlighting the company's commitment and responsibility to support communities during natural disasters.
- Service Availability: The free storage offer applies to new rentals of self-storage and U-Box containers, based on availability at participating locations, ensuring that more affected residents can access necessary assistance and alleviate post-disaster stress.
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- Competitive Market Advantage: This price lock policy is available at over 2,100 U-Haul centers across the U.S. and Canada, contrasting sharply with competitors like Public Storage and Extra Space Storage, which often employ misleading low-rate strategies, thereby enhancing customer trust and increasing market share.
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- Industry Change Advocacy: U-Haul CEO Joe Shoen encourages other storage providers to adopt similar price lock strategies to protect consumer rights and improve trust across the industry, showcasing U-Haul's leadership and commitment to responsible business practices.
See More
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- Deteriorating Financial Performance: U-Haul reported a $37 million loss in Q3, compared to a $67 million profit in the same quarter last year, indicating severe profitability pressures due to high fleet depreciation and disposal losses.
- Fleet Management Challenges: The company is grappling with an excess fleet issue, as the rental market has not shown significant recovery, prompting management to plan for increased sales of high-mileage older trucks over the next 12 months to optimize fleet structure.
- Self-Storage Business Pressures: The rate of new self-storage unit additions has outpaced rentals, leading to a surplus of units; while storage revenues grew by $18 million, same-store occupancy declined by 490 basis points, reflecting weak market demand.
- Capital Expenditure Adjustments: New truck purchases are expected to decrease by over $500 million in the next fiscal year, with management emphasizing the need to rebalance fleet composition to address ongoing market challenges and cost pressures.
See More
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- Facility Opening: U-Haul's self-storage facility in Rossford held its ribbon-cutting ceremony on March 28, marking the completion of 431 climate-controlled storage rooms and the creation of 10 jobs, enhancing local economic vitality.
- Price Lock Commitment: U-Haul introduced a 1-Year Price Lock policy, ensuring tenants will not face rent increases for the next year, which boosts customer trust and differentiates the company from competitors facing scrutiny for deceptive pricing.
- Facility Scale and Services: The new facility spans nine acres and offers 1,067 storage units along with various services, including indoor storage, a retail showroom, and hitch installation services, addressing the growing storage demand in the Rossford area.
- Community Support and Hiring: U-Haul is committed to prioritizing local hiring, especially for veterans and military members, reflecting the company's support and responsibility to the community while providing more job opportunities for residents.
See More
U-Haul Offers 30 Days Free Storage for Hawaii Residents Affected by Kona Storm
- Disaster Relief Program: U-Haul is offering 30 days of free self-storage and U-Box container usage to Hawaii residents impacted by the Kona storm, aiming to assist communities in facing the challenges posed by natural disasters and enhancing residents' sense of security and recovery capabilities.
- Widespread Facility Distribution: Currently, U-Haul operates five self-storage centers in Hawaii, located on Oahu, Maui, and the Big Island, ensuring that affected residents can conveniently access storage services, thereby increasing the company's service coverage in the region.
- Long-Term Price Lock: In addition to the free storage service, U-Haul has introduced a 1-Year Price Lock program available at 2,100 facilities across the U.S. and Canada, ensuring customers will not face price increases for a year, which enhances customer trust and loyalty.
- Community Responsibility: As an official American Red Cross Disaster Responder, U-Haul demonstrates its commitment to supporting communities during emergencies, further solidifying its leadership position in disaster relief and enhancing its brand image.
See More
U.S.-Iran Conflict Drives Market Volatility and Oversold Conditions
- Increased Market Volatility: The ongoing U.S.-Iran conflict has led to heightened volatility in U.S. markets, with major indices and several sectors sharply declining, pushing many stocks into oversold territory, indicating investor panic.
- List of Oversold Stocks: Based on momentum indicators, U-Haul Holding (UHAL) has a Relative Strength Index (RSI) of 30 with a 16-day performance drop of 10.2%; Smiths Group (SMGZY) also at RSI 30, down 13.98%; and GXO Logistics (GXO) at RSI 30, down 15.7%.
- Industry Impact Analysis: Intertek Group (IKTSF) shows an RSI of 29 with a 16-day performance decline of 28.4%, indicating significant pressure on the company that could affect its future profitability and market confidence.
- Potential for Short-term Rebound: While oversold conditions typically signal heavy selling pressure, they can also precede short-term rebounds if fundamentals remain intact, prompting investors to closely monitor market dynamics for potential opportunities.
See More
U-Haul Offers 30 Days Free Storage in Greater Tulsa Area After Tornadoes
- Disaster Relief Initiative: U-Haul is offering 30 days of free self-storage and U-Box container use at six facilities in the Greater Tulsa Area to assist communities affected by eight tornadoes and flooding, ensuring residents can securely store personal belongings and facilitate recovery efforts.
- Community Support Commitment: Jim Smith, president of U-Haul Co. of Tulsa, stated that the team is ready to provide dry and secure storage solutions for those impacted by the storms, highlighting the company's commitment and responsibility to support communities during natural disasters.
- Service Availability: The free storage offer applies to new rentals of self-storage and U-Box containers, based on availability at participating locations, ensuring that more affected residents can access necessary assistance and alleviate post-disaster stress.
- Company Overview: Founded in 1945, U-Haul is the third-largest storage operator in North America with over 1.126 million rentable storage units, dedicated to enhancing customer experience through transparent pricing and technological innovations, further solidifying its market leadership.
See More
U-Haul Introduces 1-Year Price Lock Guarantee to Transform Self-Storage Industry
- Price Lock Innovation: U-Haul's introduction of the 1-Year Price Lock Guarantee ensures that new customers' monthly rates for self-storage units remain unchanged for at least one year, aiming to provide cost transparency and avoid the hidden fees and frequent price hikes prevalent in the industry.
- Competitive Market Advantage: This price lock policy is available at over 2,100 U-Haul centers across the U.S. and Canada, contrasting sharply with competitors like Public Storage and Extra Space Storage, which often employ misleading low-rate strategies, thereby enhancing customer trust and increasing market share.
- Enhanced Customer Benefits: U-Haul's price lock not only eliminates administrative fees and deposits but also offers a free lock for first-time renters and a free first month with qualifying one-way equipment rentals, further boosting customer appeal and satisfaction.
- Industry Change Advocacy: U-Haul CEO Joe Shoen encourages other storage providers to adopt similar price lock strategies to protect consumer rights and improve trust across the industry, showcasing U-Haul's leadership and commitment to responsible business practices.
See More
U-Haul Q3 2026 Earnings Call Insights
- Deteriorating Financial Performance: U-Haul reported a $37 million loss in Q3, compared to a $67 million profit in the same quarter last year, indicating severe profitability pressures due to high fleet depreciation and disposal losses.
- Fleet Management Challenges: The company is grappling with an excess fleet issue, as the rental market has not shown significant recovery, prompting management to plan for increased sales of high-mileage older trucks over the next 12 months to optimize fleet structure.
- Self-Storage Business Pressures: The rate of new self-storage unit additions has outpaced rentals, leading to a surplus of units; while storage revenues grew by $18 million, same-store occupancy declined by 490 basis points, reflecting weak market demand.
- Capital Expenditure Adjustments: New truck purchases are expected to decrease by over $500 million in the next fiscal year, with management emphasizing the need to rebalance fleet composition to address ongoing market challenges and cost pressures.
See More
