U-Haul Holding (UHAL) Q2 FY2027 earnings: revenue $1.8 billion, up 3.1% on the year

U-Haul Holding Co. (UHAL) reported revenue of $1.8 billion for Q2 FY2027, the quarter ended 30 September 2026, up 3.1% on the same quarter a year earlier. Net income was $137 million, up 29.5% on the year. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$1.8 billion

+3.1% on the year · +5.4% on the quarter

Q3 FY2025Q2 FY2027

Operating margin

15.0%

12.7% a year earlier

Q3 FY2025Q2 FY2027

Net income

$137 million

+29.5% on the year · +11.2% on the quarter

Q3 FY2025Q2 FY2027

Diluted EPS

n/a

Q3 FY2025Q2 FY2027

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Quarterly net earnings rose to $136.7 million: Net earnings available to common stockholders were $136.7 million, compared with $105.6 million a year earlier. UHAL.B diluted EPS was $0.71, against $0.54.
Reinvestment continuing at slower pace: Management said it continues to reinvest, but at what it called an appropriately slower pace.
Segment earnings from operations rose $44.5 million: Moving and Storage earnings from operations, before equity in insurance subsidiaries, were $241.9 million, up from $197.4 million in the prior-year quarter.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2027	Q1 FY2027	Q2 FY2026	On the quarter	On the year
Revenue	1,773	1,682	1,720	+5.4%	+3.1%
Cost of revenue	67.0	71.8	67.6	-6.7%	-1.0%
Gross profit	1,706	1,610	1,652	+5.9%	+3.2%
Gross margin	96.2%	95.7%	96.1%
Operating income	265	251	218	+5.8%	+21.8%
Operating margin	15.0%	14.9%	12.7%
Interest expense	99.0	97.9	90.3	+1.1%	+9.6%
Pre-tax income	174	162	137	+7.6%	+27.0%
Income tax	37.3	38.8	31.4	-3.7%	+18.8%
Effective tax rate	21.4%	24.0%	22.9%
Net income	137	123	106	+11.2%	+29.5%
Net margin	7.7%	7.3%	6.1%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2027	Q1 FY2027	Q2 FY2026	On the quarter	On the year
Operating cash flow	379	630	552	-39.9%	-31.3%
Capital expenditure	721	822	998	-12.3%	-27.7%
Free cash flow	-343	-192	-446
Free cash flow margin	-19.3%	-11.4%	-25.9%
Cash from investing	-493	-571	-733
Cash from financing	15.5	-78.3	390		-96.0%
Depreciation	302	301	302	+0.4%	-0.1%
Buybacks	10.2	15.6	n/a	-34.5%
Diluted shares, weighted	194m	196m	196m	-0.7%	-0.9%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2027	Q1 FY2027	Q2 FY2026	On the quarter	On the year
Shareholders' equity	7,718	7,660	7,768	+0.8%	-0.6%
Debt	10,573	10,441	10,213	+1.3%	+3.5%
Other liabilities	3,584	3,560	3,447	+0.7%	+4.0%
Total liabilities and equity	21,875	21,661	21,428	+1.0%	+2.1%
Fixed assets	16,910	16,724	16,031	+1.1%	+5.5%
Securities held for sale or to maturity	2,255	2,321	2,494	-2.8%	-9.6%
Cash and equivalents	1,000	1,097	1,083	-8.9%	-7.7%
Inventory	183	180	176	+1.4%	+3.8%
Other assets	1,527	1,339	1,644	+14.0%	-7.2%
Total assets	21,875	21,661	21,428	+1.0%	+2.1%

Questions

What was U-Haul Holding's revenue in Q2 FY2027?

U-Haul Holding (UHAL) reported revenue of $1.8 billion for Q2 FY2027, the quarter ended 30 September 2026, up 3.1% on the same quarter a year earlier.

How much did U-Haul Holding earn in Q2 FY2027?

Net income for Q2 FY2027 was $137 million, up 29.5% on the year.

When did U-Haul Holding report Q2 FY2027 results?

U-Haul Holding filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q3 FY2022	Q4 FY2022 *	Q1 FY2023 †	Q2 FY2023 †	Q3 FY2023	Q4 FY2023 * †	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025 †	Q3 FY2025 †	Q4 FY2025 * †	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027	Q2 FY2027
Revenue	1,404	1,198	1,598	1,703	1,375	1,189	1,540	1,650	1,340	1,096	1,548	1,658	1,389	1,234	1,630	1,720	1,416	1,272	1,682	1,773
Cost of revenue	57.0	66.1	79.7	72.6	54.6	56.1	70.7	66.6	51.5	52.7	66.0	62.2	52.8	53.1	72.2	67.6	50.9	56.2	71.8	67.0
Gross profit	1,347	1,132	1,518	1,630	1,321	1,133	1,470	1,583	1,288	1,043	1,482	1,596	1,336	1,180	1,558	1,652	1,365	1,216	1,610	1,706
Gross margin	96%	94%	95%	96%	96%	95%	95%	96%	96%	95%	96%	96%	96%	96%	96%	96%	96%	96%	96%	96%
Operating income	417	155	496	520	320	110	400	422	198	-41.8	306	302	151	-42.8	257	218	33.7	-76.1	251	265
Operating margin	30%	13%	31%	31%	23%	9%	26%	26%	15%	-4%	20%	18%	11%	-3%	16%	13%	2%	-6%	15%	15%
Interest expense	44.0	44.7	49.8	57.2	59.0	57.9	60.6	63.9	67.5	64.2	67.2	71.5	76.6	80.4	82.3	90.3	95.5	96.6	97.9	99.0
Pre-tax income	371	112	445	461	261	54.1	339	358	130	13.7	256	246	89.4	-115	185	137	51.6	-261	162	174
Tax rate	24%	21%	24%	24%	24%	27%	24%	24%	24%	106%	24%	24%	25%	n/a	23%	23%	28%	n/a	24%	21%
Net income	281	86.7	338	350	199	37.0	257	274	99.2	-0.9	195	187	67.2	-82.3	142	106	37.0	-202	123	137
Net margin	20%	7%	21%	21%	14%	3%	17%	17%	7%	-0%	13%	11%	5%	-7%	9%	6%	3%	-16%	7%	8%
Diluted EPS	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-$0.05	n/a	n/a	n/a	-$0.46	n/a	n/a	n/a	-$0.70	n/a	n/a
Operating cash flow	270	157	651	537	328	214	466	472	303	213	454	530	272	199	598	552	241	404	630	379
Capital expenditure	613	484	646	689	741	647	774	891	737	592	963	964	936	589	917	998	688	552	822	721
Free cash flow	-343	-326	5.2	-153	-413	-434	-308	-419	-434	-379	-509	-433	-665	-390	-318	-446	-448	-148	-192	-343
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	15.6	10.2
Dividends paid	9.8	0.0	9.8	9.8	0.0	0.0	0.0	14.1	n/a	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Shares outstanding	20m	20m	20m	20m	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 4 November 2026: the filing.