U-Haul Holding Company (NYSE:UHAL) Q2 2025 Earnings Conference Call November 7, 2024 10:00 AM ET

Company Participants

Sebastien Reyes - Director of Investor Relations
Joe Shoen - Chairman, President & Chief Executive Officer
Jason Berg - Chief Financial Officer
Sam Shoen - Manager-U-BOX Project

Conference Call Participants

Steve Ralston - Zacks
Jamie Wilen - Wilen Management

Operator

Good day, everyone, and welcome to today's U-Haul Holding Company Second Quarter Fiscal Year 2025 Investor Call. At this time, all participants are in a listen-only mode. [Operator Instructions] Please note, this call maybe recorded. I will be standing by if you should need any assistance. It is my pleasure to turn the conference over to Sebastien Reyes.

Sebastien Reyes

Good morning, and thank you for joining us today. Welcome to the U-Haul Holding Company second quarter fiscal 2025 investor call. Before we begin, I'd like to remind everyone that certain of the statements during this call, including, without limitation, statements regarding revenue, expenses, income and general growth of our business, may constitute forward-looking statements within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended.

Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Certain factors could cause actual results to differ materially from those projected. For a discussion of the risks and uncertainties that may affect the company's business, and future operating results, please refer to the company's public SEC filings and Form 10-Q for the quarter ended September 30, 2024, which is on file with the US Securities and Exchange Commission.

I'll now turn the call over to Joe Shoen, Chairman of U-Haul Holding Company.

Joe Shoen

Thanks, Sebastien. This is the time of the year that we try to lock down our moving truck and trailer CapEx. The big unknown for us is how successful the new administration will be in getting EV mandates turned around. If the vehicle manufacturers can gain some certainty that will help us with our strategy. Rental income on moving equipment is up slightly. My teams remain focused on this measurement but we've been getting very modest results.

We are continuing to develop new storage product and bringing it online faster than we are filling units. The industry – the storage industry remains is beset upon by unrealistic moving promotions. We are holding with our strategy but we're watching this all the time. U-Box, which is our service that addresses both the time and the place needs of consumers is still making progress. We have a significant infrastructure now in place that can reliably handle growth in our transactions and I expect we're going to see some.