U-Haul adds 12,700 trucks, $350M buyback, $896M debt increase; exec departure disclosed

Filed May 27, 2026 · Period ending March 31, 2026 · Compared to 10-K May 29, 2025 · ~1 min read

Key Changes

• high

  Total debt jumped $896M (12.4%) to $8.1B, funding fleet expansion of 12,700 trucks (6.6% growth) and 67 new storage locations with 57,000 units. Unhedged variable-rate debt rose $110M, increasing interest rate sensitivity.

  MD&A: Debt & Fleet verify on EDGAR →
• high

  Board authorized $350M stock repurchase program with no expiration, signaling management views shares as undervalued. Program is discretionary and may be modified or terminated at any time.

  MD&A: Capital Allocation verify on EDGAR →
• high

  One Big Beautiful Bill (July 2025) reinstated 100% bonus depreciation and eased interest deduction limits, creating taxable losses for FY2026 and increasing deferred tax liabilities. Changes improve near-term cash flow.

  Risk Factors: Tax Law verify on EDGAR →