H&R Block Q4 Earnings: Revenue Beat, EPS Beat, Strong Guidance, $1.5B Buyback, Stock Up 9%

Author: Adam Eckert | August 15, 2024 05:12pm

H&R Block Inc (NYSE:HRB) reported financial results for its fiscal fourth quarter after the market close on Thursday. Here’s a look at the key metrics in the report.

• Q4 Revenue: $1.063 billion, versus estimates of $1.028 billion

• Q4 EPS: $1.89, versus estimates of $1.74

“In fiscal 2024 we made strides across our different products and services that provide value to our clients and help enable their financial confidence,” said Jeff Jones, president and CEO of H&R Block.

“We continue to make progress, gain new insight, and translate this client success into value for shareholders, and are well positioned to build on this momentum in fiscal 2025 and beyond.”

H&R Block said full-year revenue growth of 4% was driven by higher net average charge and company-owned volumes in the Assisted category combined with greater online paid returns at a higher net average charge.

The company’s board authorized a new share repurchase program of $1.5 billion. During 2024, H&R Block repurchased approximately eight million shares for $350 million.

H&R Block’s board also increased its quarterly dividend by 17%, representing the seventh increase in the past seven years. The new quarterly dividend of $0.375 per share is payable on Oct. 3 to shareholders of record as of Sept. 5.

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FY25 Outlook: H&R Block expects full-year 2025 revenue to be in the range of $3.69 billion to $3.75 billion versus estimates of $3.575 billion, per Benzinga Pro. The company sees full-year adjusted earnings in the range of $5.15 to $5.35 per share versus estimates of $4.30 per share.

HRB Price Action: H&R Block shares were up 9.24% in after-hours, trading at $62.66 at the time of writing, according to Benzinga Pro.

Photo: Shutterstock.

Posted In: HRB