Increase in Equipment Rental Revenue
Equipment rental revenue increased by $18 million or about 1.7%, marking the second consecutive quarter of year-over-year increases, suggesting a potential return to sustained growth.
Growth in Self-Storage Revenue
Self-storage revenues were up $16 million, an 8% improvement, with the average revenue per occupied foot increasing by 1.6% for the quarter.
Expansion in Self-Storage Capacity
During the quarter, U-Haul added 67,000 new self-storage units and approximately 900,000 new net rentable square feet, with 8.1 million square feet currently being developed.