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H&R Block (HRB) Q2 Earnings and Revenues Beat Estimates
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H&R Block, Inc. (HRB - Free Report) reported impressive second-quarter fiscal 2024 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate.
Quarterly adjusted loss per share came in at $1.27 compared with the Zacks Consensus Estimate of a loss of $1.58 per share. Loss contracted 7.3% on a year-over-year basis.
Revenues of $179.1 million exceeded the consensus estimate by 6.6% and increased 7.6% year over year. The top line was positively impacted by higher volumes and net average charge in the Assisted category, higher interest and fee income on Emerald AdvanceSM, driven by an increase in Emerald AdvanceSM Loans and an early commencement to the offering period in the current year.
H&R Block’s shares have gained 37.3% over the past six months, significantly outperforming the 12.3% rally of the industry it belongs to.
Revenues from U.S. tax preparation and related services came in at $99.4 million, increasing 9.2% from the year-ago figure. Revenues from Financial services came in at $8.9 million, 6.1% higher than the year-ago figure.
Loss before interest, taxes, depreciation and amortization came in at $231.4 million compared with a loss of $246.3 million in the year-ago quarter.
H&R Block exited the quarter with cash and cash equivalents of $321 million compared with $427 million at the end of the prior quarter. Long-term debt was $2.3 billion compared with $1.5 billion at the end of the previous quarter.
The company generated $607 million of cash from operating activities while capex was $19.8 million.
2024 Outlook
H&R Block continues to expect revenues in the range of $3.530-$3.585 billion. The midpoint of the guided range ($3.56 billion) is the same as the current Zacks Consensus Estimate.
Adjusted EPS is projected to be between $4.1 and $4.3. The midpoint of the guided range ($4.2) is the same as the current Zacks Consensus Estimate.
EBITDA is anticipated to be between $930 million and $965 million. The effective tax rate is expected to be around 23%.
Quarterly earnings of 83 cents per share beat the consensus mark by 1.2% but declined 39.4% year over year. RHI’s revenues of $1.5 billion beat the consensus mark by a slight margin but decreased 14.7% year over year.
Aptiv (APTV - Free Report) reported mixed fourth-quarter 2023 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same.
Adjusted earnings of $1.4 per share beat the Zacks Consensus Estimate by 8.5% and increased 10.2% year over year. APTV’s revenues of $4.9 billion missed the Zacks Consensus Estimate by 0.5% but increased 6% year over year.
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H&R Block (HRB) Q2 Earnings and Revenues Beat Estimates
H&R Block, Inc. (HRB - Free Report) reported impressive second-quarter fiscal 2024 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate.
Quarterly adjusted loss per share came in at $1.27 compared with the Zacks Consensus Estimate of a loss of $1.58 per share. Loss contracted 7.3% on a year-over-year basis.
Revenues of $179.1 million exceeded the consensus estimate by 6.6% and increased 7.6% year over year. The top line was positively impacted by higher volumes and net average charge in the Assisted category, higher interest and fee income on Emerald AdvanceSM, driven by an increase in Emerald AdvanceSM Loans and an early commencement to the offering period in the current year.
H&R Block’s shares have gained 37.3% over the past six months, significantly outperforming the 12.3% rally of the industry it belongs to.
H&R Block, Inc. Price, Consensus and EPS Surprise
H&R Block, Inc. price-consensus-eps-surprise-chart | H&R Block, Inc. Quote
Other Quarterly Numbers
Revenues from U.S. tax preparation and related services came in at $99.4 million, increasing 9.2% from the year-ago figure. Revenues from Financial services came in at $8.9 million, 6.1% higher than the year-ago figure.
Loss before interest, taxes, depreciation and amortization came in at $231.4 million compared with a loss of $246.3 million in the year-ago quarter.
H&R Block exited the quarter with cash and cash equivalents of $321 million compared with $427 million at the end of the prior quarter. Long-term debt was $2.3 billion compared with $1.5 billion at the end of the previous quarter.
The company generated $607 million of cash from operating activities while capex was $19.8 million.
2024 Outlook
H&R Block continues to expect revenues in the range of $3.530-$3.585 billion. The midpoint of the guided range ($3.56 billion) is the same as the current Zacks Consensus Estimate.
Adjusted EPS is projected to be between $4.1 and $4.3. The midpoint of the guided range ($4.2) is the same as the current Zacks Consensus Estimate.
EBITDA is anticipated to be between $930 million and $965 million. The effective tax rate is expected to be around 23%.
H&R Block currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Earnings Snapshots
Robert Half (RHI - Free Report) reported better-than-expected fourth-quarter 2023 results.
Quarterly earnings of 83 cents per share beat the consensus mark by 1.2% but declined 39.4% year over year. RHI’s revenues of $1.5 billion beat the consensus mark by a slight margin but decreased 14.7% year over year.
Aptiv (APTV - Free Report) reported mixed fourth-quarter 2023 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same.
Adjusted earnings of $1.4 per share beat the Zacks Consensus Estimate by 8.5% and increased 10.2% year over year. APTV’s revenues of $4.9 billion missed the Zacks Consensus Estimate by 0.5% but increased 6% year over year.