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H&R Block (HRB) Q1 Earnings and Revenues Beat Estimates
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H&R Block, Inc. (HRB - Free Report) reported impressive first-quarter fiscal 2024 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate.
Quarterly adjusted loss per share came in at $1.05 against the Zacks Consensus Estimate of a loss of $1.13 per share. Earnings declined 6.1% on a year-over-year basis.
Revenues of $183.8 million exceeded the consensus estimate by 1.9% and increased 2.1% year over year. The top line was positively impacted by a higher net average charge in the Assisted category.
H&R Block’s shares have gained 26.5% over the past six months, significantly outperforming the 0.6% rally of the industry it belongs to.
Revenues from U.S. tax preparation and related services came in at $90.4 million, increasing 4.7% from the year-ago figure. Revenues from Financial services came in at $8.9 million, 27% lower than the year-ago figure.
Loss before interest, taxes, depreciation and amortization came in at $166.3 million against a loss of $171.9 million in the year-ago quarter.
H&R Block exited the quarter with cash and cash equivalents of $427 million compared with $987 million at the end of the prior quarter. Long-term debt was $1.5 billion, in line with the previous quarter.
The company generated $335 million of cash from operating activities while capex was $13 million.
2024 Outlook
H&R Block expects 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 slightly above the current Zacks Consensus Estimate of $4.17.
EBITDA is anticipated to be between $930 million and $965 million. The effective tax rate is expected to be around 23%.
The Interpublic Group of Companies, Inc. (IPG - Free Report) posted third-quarter 2023 results, wherein both earnings and revenues missed the Zacks Consensus Estimate.
IPG’s adjusted earnings were 70 cents per share, which lagged the consensus estimate by 6.7%. The bottom line, however, climbed 11.1% on a year-over-year basis.
Net revenues of $2.31 billion fell short of the consensus estimate by 3.3%. In the year-ago quarter, IPG’s net revenues were $2.3 billion. Total revenues of $2.68 billion increased 1.5% year over year.
Equifax Inc. (EFX - Free Report) reported lower-than-expected third-quarter 2023 results. Adjusted earnings (excluding 45 cents from non-recurring items) were $1.76 per share, missing the Zacks Consensus Estimate by 1.1%. Yet, the metric rose 1.7% from the year-ago figure.
EFX’s total revenues of $1.32 billion missed the consensus estimate by 0.7%. Nonetheless, the figure gained 6% from the year-ago figure on a reported basis and 6.5% on a local-currency basis.
Fiserv, Inc. (FI - Free Report) reported impressive third-quarter 2023 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate. Adjusted earnings per share of $1.96 exceeded the consensus mark by 1% and increased 20% year over year. Adjusted revenues of $4.62 billion surpassed the consensus estimate by 0.53% and jumped 8.2% year over year.
FI’s organic revenue growth was 12% in the quarter. This was driven by 20% and 6% growth in the Acceptance and Payments segments, respectively.
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H&R Block (HRB) Q1 Earnings and Revenues Beat Estimates
H&R Block, Inc. (HRB - Free Report) reported impressive first-quarter fiscal 2024 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate.
Quarterly adjusted loss per share came in at $1.05 against the Zacks Consensus Estimate of a loss of $1.13 per share. Earnings declined 6.1% on a year-over-year basis.
Revenues of $183.8 million exceeded the consensus estimate by 1.9% and increased 2.1% year over year. The top line was positively impacted by a higher net average charge in the Assisted category.
H&R Block’s shares have gained 26.5% over the past six months, significantly outperforming the 0.6% 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 $90.4 million, increasing 4.7% from the year-ago figure. Revenues from Financial services came in at $8.9 million, 27% lower than the year-ago figure.
Loss before interest, taxes, depreciation and amortization came in at $166.3 million against a loss of $171.9 million in the year-ago quarter.
H&R Block exited the quarter with cash and cash equivalents of $427 million compared with $987 million at the end of the prior quarter. Long-term debt was $1.5 billion, in line with the previous quarter.
The company generated $335 million of cash from operating activities while capex was $13 million.
2024 Outlook
H&R Block expects 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 slightly above the current Zacks Consensus Estimate of $4.17.
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
The Interpublic Group of Companies, Inc. (IPG - Free Report) posted third-quarter 2023 results, wherein both earnings and revenues missed the Zacks Consensus Estimate.
IPG’s adjusted earnings were 70 cents per share, which lagged the consensus estimate by 6.7%. The bottom line, however, climbed 11.1% on a year-over-year basis.
Net revenues of $2.31 billion fell short of the consensus estimate by 3.3%. In the year-ago quarter, IPG’s net revenues were $2.3 billion. Total revenues of $2.68 billion increased 1.5% year over year.
Equifax Inc. (EFX - Free Report) reported lower-than-expected third-quarter 2023 results. Adjusted earnings (excluding 45 cents from non-recurring items) were $1.76 per share, missing the Zacks Consensus Estimate by 1.1%. Yet, the metric rose 1.7% from the year-ago figure.
EFX’s total revenues of $1.32 billion missed the consensus estimate by 0.7%. Nonetheless, the figure gained 6% from the year-ago figure on a reported basis and 6.5% on a local-currency basis.
Fiserv, Inc. (FI - Free Report) reported impressive third-quarter 2023 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate. Adjusted earnings per share of $1.96 exceeded the consensus mark by 1% and increased 20% year over year. Adjusted revenues of $4.62 billion surpassed the consensus estimate by 0.53% and jumped 8.2% year over year.
FI’s organic revenue growth was 12% in the quarter. This was driven by 20% and 6% growth in the Acceptance and Payments segments, respectively.