H&R Block (HRB) came out with quarterly earnings of $4.94 per share, beating the Zacks Consensus Estimate of $4.66 per share. This compares to earnings of $4.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.01%. A quarter ago, it was expected that this tax preparer would post a loss of $1.58 per share when it actually produced a loss of $1.27, delivering a surprise of 19.62%.Over the last four quarters, the company has sur ...

Revenue Performance - Service revenues for Q3 FY2024 reached $1,993,556, an increase of 5.8% compared to $1,885,035 in Q3 FY2023[9] - Total revenues for the nine months ended March 31, 2024, were $2,547,717, up 4.4% from $2,440,039 in the same period last year[9] - As of March 31, 2024, total revenues reached $2,184.8 million, an increase from $2,093.6 million in the same period of 2023, representing a growth of approximately 4.4%[26] - U.S. assisted tax preparation revenues for the three months ended March 31, 2024, were $1,534.8 million, compared to $1,453.0 million in the prior year, reflecting a year-over-year increase of about 5.6%[26] - U.S. DIY tax preparation revenues increased by $31.5 million, or 18.9%, due to an 8.9% rise in online paid returns and a 10.3% increase in paid net average charge[77] - Total revenues increased by $107.7 million, or 4.4%, to $2,547.7 million for the nine months ended March 31, 2024, compared to the prior year[83] - U.S. assisted tax preparation revenues rose by $91.9 million, or 6.0%, driven by a 4.6% increase in net average charge and higher company-owned tax return volumes[83] - U.S. DIY tax preparation revenues increased by $33.2 million, or 18.2%, primarily due to a 9.1% increase in online paid returns[84] Net Income and Earnings Per Share - Net income for Q3 FY2024 was $690,737, representing a 7.4% increase from $643,429 in Q3 FY2023[9] - Basic earnings per share for continuing operations increased to $4.94 in Q3 FY2024, compared to $4.22 in Q3 FY2023, reflecting a growth of 17.1%[9] - Net income from continuing operations attributable to common shareholders for Q3 FY2024 was $688.8 million, compared to $643.3 million in Q3 FY2023, representing a growth of 7.1%[29] - Diluted earnings per share from continuing operations increased to $4.87, up 17.6% from $4.14 in the prior year[75] - Net income from continuing operations was $339.6 million, a 31.7% increase from $257.8 million in the prior year[82] - Diluted earnings per share from continuing operations increased to $2.34, up 44.4% from $1.62 in the prior year[82] Assets and Liabilities - Total assets as of March 31, 2024, were $3,213,322, up from $3,072,258 as of June 30, 2023, indicating a growth of 4.6%[11] - Total liabilities increased to $3,343,128 as of March 31, 2024, from $3,040,194 as of June 30, 2023, reflecting a rise of 10%[11] - Total receivables as of March 31, 2024, amounted to $346.8 million, a significant increase from $59.99 million as of June 30, 2023[31] - Total long-term debt as of March 31, 2024, was $1,490.57 million, slightly up from $1,488.98 million as of June 30, 2023[43] Cash Flow and Operating Activities - Cash and cash equivalents decreased to $794,617 as of March 31, 2024, from $986,975 as of June 30, 2023, a decline of 19.5%[11] - Net cash provided by operating activities for the nine months ended March 31, 2024, was $420,264, down from $498,386 in the same period last year, a decrease of 15.7%[13] - The company reported a net cash used in financing activities of $520,503 for the nine months ended March 31, 2024, compared to $505,587 in the same period last year[13] - Cash provided by operating activities totaled $420.3 million, down from $498.4 million in the prior year[95] Dividends and Stock Repurchase - Dividends declared per share increased to $0.32 in Q3 FY2024 from $0.29 in Q3 FY2023, a rise of 10.3%[9] - The company repurchased and retired common shares totaling $220.3 million during the quarter ending December 31, 2023[15] - The company repurchased $350.1 million of its common stock at an average price of $43.66 per share during the nine months ended March 31, 2024[100] Operating Expenses and Bad Debt - Total operating expenses increased by $27.5 million, or 2.2%, with field wages rising by $29.5 million, or 6.1%, primarily due to higher company-owned volumes[78] - Bad debt expense increased by $6.7 million, or 19.7%, attributed to an increase in Refund Transfers and higher bad debt rates[78] - Total operating expenses increased by $25.4 million, or 1.2%, with field wages rising by $31.9 million, or 5.2%[85] - Bad debt expense increased by $10.5 million, or 18.5%, attributed to higher Refund Transfers and EA loans[85] Tax and Regulatory Matters - The effective tax rate for continuing operations was 17.6% for the nine months ended March 31, 2024, down from 23.3% for the same period in 2023[48] - The company recorded discrete income tax benefits of $26.0 million for the nine months ended March 31, 2024, compared to $4.2 million for the same period in 2023[49] - The effective tax rate for the three months ended March 31, 2024, was 23.8%, compared to 24.5% in the prior year[80] - The company is involved in litigation matters, including a complaint filed by the FTC regarding its DIY tax preparation services, with a hearing scheduled for October 23, 2024[66] Acquisitions and Goodwill - Goodwill increased to $787.6 million as of March 31, 2024, up from $775.5 million as of July 1, 2023, due to acquisitions totaling $18.9 million[39] - The company made payments to acquire businesses totaling $43.2 million during the nine months ended March 31, 2024, compared to $47.7 million in the same period in 2023[41] - Estimated liabilities related to acquisitions were $27.9 million as of March 31, 2024, up from $18.3 million as of June 30, 2023[51] Other Financial Metrics - The company had gross unrecognized tax benefits of $245.8 million as of March 31, 2024, an increase of $5.7 million from $240.1 million as of June 30, 2023[47] - The company has a CLOC capacity of up to $1.5 billion, with no outstanding balance as of March 31, 2024[103] - The company relies on cash from operations and debt issuances to fund working capital and service debt, especially during off-peak months[91]

Financial Performance - For the third quarter of fiscal 2024, H&R Block reported total revenue of $2.2 billion, an increase of $91.2 million or 4% compared to the prior year[4]. - Net income grew by 7%, resulting in earnings per share from continuing operations increasing from $4.14 to $4.87, a growth of 18%[3][5]. - The company reported a pretax income increase of $51.9 million to $907.4 million, driven by higher revenues[4]. - Total revenues for the three months ended March 31, 2024, increased to $2,184,834, up 4.4% from $2,093,649 in the same period of 2023[14]. - Net income for the three months ended March 31, 2024, was $690,737, representing a 7.4% increase compared to $643,429 in the prior year[14]. - Diluted earnings per share for continuing operations rose to $4.87, up from $4.14 in the same quarter of 2023, reflecting a 17.6% increase[14]. - EBITDA from continuing operations for Q1 2024 reached $964,100, compared to $910,039 in Q1 2023, reflecting an increase of about 5.9%[17]. - Adjusted net income from continuing operations for Q1 2024 was $701,622, up from $655,898 in Q1 2023, indicating a rise of approximately 6.9%[17]. - The company reported a total EBITDA of $566,432 for the nine months ended March 31, 2024, compared to $491,868 for the same period in 2023, reflecting a growth of approximately 15.1%[17]. Operating Expenses - Total operating expenses rose to $1.3 billion, an increase of $27.5 million, primarily due to higher field wages and legal fees[4]. - Total operating expenses for the three months ended March 31, 2024, were $1,256,630, an increase of 2.2% from $1,229,147 in the same period of 2023[14]. Shareholder Returns - The company has returned over $3.8 billion to shareholders since 2016 through dividends and share repurchases, buying back over 40% of its shares outstanding[6]. - H&R Block's cash dividend of $0.32 per share is payable on July 3, 2024, marking consecutive quarterly dividends since going public in 1962[11]. - The company repurchased common stock totaling $379,018 during the nine months ended March 31, 2024[16]. Future Projections - H&R Block expects to finish fiscal 2024 near the high end of its previously announced outlook, with revenue projected between $3.530 billion and $3.585 billion[11]. - Adjusted diluted earnings per share are projected to be in the range of $4.10 to $4.30 for fiscal 2024[11]. - The effective tax rate is now expected to be in the range of 21-22%, down from the previous estimate of 23%[6]. Cash Flow and Assets - Cash and cash equivalents decreased to $794,617 as of March 31, 2024, down from $986,975 as of June 30, 2023[15]. - Total assets increased to $3,213,322 as of March 31, 2024, compared to $3,072,258 as of June 30, 2023, marking a growth of 4.6%[15]. - Net cash provided by operating activities for the nine months ended March 31, 2024, was $420,264, down from $498,386 in the same period of 2023[16]. - Total liabilities increased to $3,343,128 as of March 31, 2024, from $3,040,194 as of June 30, 2023[15]. Non-GAAP Measures - The company continues to utilize non-GAAP financial measures to evaluate ongoing operating performance, including EBITDA and adjusted earnings per share[20]. - The adjustments made for non-GAAP measures include amortization of intangibles related to acquisitions, which amounted to $12,869 for Q1 2024[19]. - The company emphasizes the importance of free cash flow and free cash flow yield as part of its performance metrics[20].

KANSAS CITY, Mo., May 08, 2024 (GLOBE NEWSWIRE) -- H&R Block, Inc. (NYSE:HRB) today announced that Tony Bowen, Chief Financial Officer, and Michaella Gallina, Vice President, Investor Relations, ESG, & Productivity, will host virtual investor meetings at the 18th Annual Barrington Research Virtual Spring Investment Conference on Thursday, May 16, 2024. To request a meeting, please contact your Barrington Research salesperson. About H&R Block H&R Block, Inc. (NYSE:HRB) provides help and inspires confidence i ...

KANSAS CITY, Mo., May 07, 2024 (GLOBE NEWSWIRE) -- H&R Block, Inc. (NYSE:HRB) (the "Company") today announced that its Board of Directors declared a quarterly cash dividend of $0.32 cents per share, payable July 3, 2024, to shareholders of record as of June 5, 2024. H&R Block has paid quarterly dividends consecutively for over sixty years since the Company became public in 1962. Since 2016, the Company has grown the dividend over 60%1 and has returned more than $3.8 billion to shareholders through dividends ...

KANSAS CITY, Mo., April 25, 2024 (GLOBE NEWSWIRE) -- H&R Block, Inc. (NYSE: HRB) will report fiscal 2024 third quarter results on Thursday, May 9, 2024, after the New York Stock Exchange market close. At that time, a copy of the press release and presentation will be available on the company's investor relations website at https://investors.hrblock.com/. A conference call for analysts, institutional investors, and shareholders will be held at 4:30 p.m. Eastern time on Thursday, May 9, 2024. During the confe ...

KANSAS CITY, Mo., April 25, 2024 (GLOBE NEWSWIRE) -- H&R Block, Inc. (NYSE:HRB) will report fiscal 2024 third quarter results on Thursday, May 9, 2024, after the New York Stock Exchange market close. At that time, a copy of the press release and presentation will be available on the company's investor relations website at https://investors.hrblock.com/. A conference call for analysts, institutional investors, and shareholders will be held at 4:30 p.m. Eastern time on Thursday, May 9, 2024. During the confer ...

Dividend stocks are finally cycling back into portfolios after a few years’ worth of higher interest rates put fixed-income options ahead of dividend distribution yield for income investors. As those investors circle back toward dividend stocks, a few things have changed about how to best look at the many available offerings – but that’s true for most stock segments today.For example, today’s growth-minded investors demand stronger financial and fundamental credentials compared to the ZIRP era, when any com ...

KANSAS CITY, Mo., April 05, 2024 (GLOBE NEWSWIRE) -- The number of filers that wait until April 15 to file their taxes is surprisingly high according to H&R Block and IRS data. This year, H&R Block (NYSE:HRB), the company that revolutionized the tax services industry, is helping last-minute filers lower their stress level and experience the joy of completing an important task five days ahead of the filing deadline. New clients who file in-person or virtually with an H&R Block tax pro by April 10th will rece ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-06089 H&R Block, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...