Abstract

U-Haul will report fiscal fourth-quarter results on May 27, 2026 Post Market; this preview summarizes latest consensus on revenue, margin trends, net profit trajectory, and EPS alongside key segment dynamics and institutional views.

Market Forecast

For the fiscal fourth quarter, the company’s latest aggregated forecasts point to revenue of 1.25 billion US dollars with an expected year-over-year increase of 12.86%, EBIT of -76.18 million US dollars with a year-over-year change of -1,063.80%, and EPS of -0.68 with a year-over-year change of -300.00%. Forecasts do not provide explicit gross profit margin or net profit margin; adjusted EPS guidance is not available in the dataset. The company’s core self-moving equipment rentals are expected to dominate the revenue mix, while self-storage continues as a strategic growth vector given sustained unit additions and pricing resilience. The most promising business remains self-storage, supported by its expanding footprint and stable utilization, though the forecast dataset does not include segment-level growth rates or revenue for the upcoming quarter.

Last Quarter Review

In the preceding quarter, U-Haul reported revenue of 1.42 billion US dollars, a gross profit margin of 25.54%, a GAAP net loss attributable to shareholders of 36.97 million US dollars with a net profit margin of -2.61%, and adjusted EPS is not disclosed in the dataset; year-over-year revenue growth was 1.95%, while EPS declined year over year by 176.67%. Rental of self-moving equipment contributed 886.17 million US dollars, self-storage generated 245.06 million US dollars, and other product and insurance/services lines added 0.31 billion US dollars, highlighting the breadth of ancillary revenue. A key operational highlight was resilient top-line growth despite a seasonal net loss and margin pressure, indicating steady demand across core rental and storage offerings. The main business highlight was the continued dominance of self-moving equipment rentals alongside the scale and stickiness of self-storage revenue, though YoY segment growth rates were not provided.

Current Quarter Outlook

Main business: Self-moving equipment rentals

Self-moving equipment rentals remain the largest revenue contributor and the primary driver of quarter-to-quarter volatility due to seasonality and fleet utilization. Heading into the fiscal fourth quarter, the forecast of 1.25 billion US dollars in total revenue implies a pickup consistent with the spring moving season, which historically supports higher transaction volumes and better utilization. Pricing discipline and fleet mix are likely to determine whether volume gains translate into margin stabilization after the prior quarter’s net margin of -2.61%. Fuel costs and maintenance intensity are swing factors that can compress gross margin in a seasonally active period. Investors will watch ticket size, days-on-rent, and any commentary on promotional cadence to gauge the trajectory into the peak summer quarter.

Most promising business: Self-storage

Self-storage continues to be a structurally attractive growth avenue given incremental facility additions, stabilization of occupancy, and cross-sell opportunities from the moving ecosystem. The last quarter’s 245.06 million US dollars in storage revenue underscores its growing weight in the mix and its potential to offset cyclicality in moving rentals. In the coming quarter, unit additions and rate management could underpin mid- to high-single-digit revenue expansion versus stabilized properties, with development and lease-up continuing to build the base for future revenue. Margin characteristics in storage are typically more durable than rentals, so even modest revenue growth can provide meaningful support to consolidated EBIT, which is currently forecast to be negative in the quarter. Management’s commentary on occupancy trends, move-in/move-out spreads, and new facility ramp will be focal points for assessing the durability of the growth path.

Key stock price driver: Profit trajectory and operating leverage

The consensus points to an EBIT loss of 76.18 million US dollars and EPS of -0.68, implying that investors will focus on the conversion of seasonal revenue into margins as the company transitions toward the busier summer period. The gap between revenue growth of 12.86% and the projected negative EBIT suggests elevated operating expenses, potentially from fleet costs, storage development, or marketing. Any indication of improving utilization, leveraging fixed costs, and normalizing maintenance/fuel would be interpreted as a positive inflection for margin recovery. Management color on capital intensity—fleet refresh cadence and storage build-outs—will also shape expectations for free cash flow seasonality and the pace of de-leveraging or capital return.

Analyst Opinions

The prevailing institutional stance skews bullish, with the majority of recent commentaries highlighting resilient demand in self-moving and the compounding runway in self-storage as catalysts for revenue acceleration and eventual margin recovery. Analysts emphasize that a double-digit revenue growth outlook of 12.86% for the quarter, coupled with the scale benefits as peak season approaches, supports a constructive view despite the near-term EBIT loss. Several well-followed research desks flag self-storage as the core medium-term value driver given its stable economics and pipeline of openings, while also noting that operating leverage in rentals can improve as pricing and utilization stabilize into summer. The consensus focus remains on how effectively U-Haul can translate the expected revenue rebound into expanding gross and operating margins over the next two quarters, with a tilt toward positive risk-reward as seasonal dynamics strengthen.