By Amira McKee

U-Haul Holding swung to a loss in its third quarter, driven by charges from fleet depreciation and the disposal of retired rental equipment.

The moving and storage company reported a loss available to common stockholders of $37 million, or 23 cents per share, for the period ended Dec. 31, compared with earnings of $67.2 million, or 30 cents a share, in the same period a year earlier.

Revenue rose 1.9% to $1.42 billion, missing the $1.43 billion expected by analysts, according to FactSet.

Increased losses from the disposal of retired rental equipment combined with fleet depreciation charges accounted for $74.6 million of the third quarter decline, U-Haul said. Liability costs increased $37.9 million in the third quarter, it added.

Chief Executive Officer Joe Shoen said the company has underutilized capacity in both fleet and self-storage. U-Haul must differentiate itself from its self-storage peers to impact top-line revenue, he added.

"We continue to undermine earnings with fleet depreciation and poor resale results," Shoen said. "I expect that this will bottom out this calendar year."

Write to Amira McKee at amira.mckee@wsj.com

(END) Dow Jones Newswires

February 04, 2026 17:17 ET (22:17 GMT)

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