H&R Block Earnings: HRB Stock Falls 6% on Q3 EPS Miss

H&R Block (NYSE:HRB) earnings for the tax preparation company’s fiscal third quarter of 2020 have HRB stock falling after markets closed Thursday. This follows adjusted losses per share of -59 cents, which is worse than Wall Street’s estimate of -55 cents. On the other hand, its revenue of $519.21 million beats out analysts’ estimates of $485.55 million.

H&R Block Earnings: HRB Stock Falls 6% on Q3 EPS Miss

Source: Ken Wolter / Shutterstock.com

Here are some additional highlights from the most recent HRB stock earnings report.

  • Adjusted per-share losses are 13.46% wider than the -52 cents from the same time last year.
  • Revenue for the quarter comes in 10.85% higher than the $468.38 million in the fiscal third quarter of 2019.
  • Operating loss of -$177.03 million is 11.58% worse year-over-year than -$158.66 million.
  • The H&R Block earnings report also includes a net loss of -$129.68 million.
  • This is a 2.55% wider net loss than the -$126.45 million reported during the same period of the year prior.

Jeff Jones, president and CEO of  H&R Block, said the following about the HRB stock earnings report:

“We’re making progress on our strategy to transform our business by connecting human expertise with technology to drive transparency and value for consumers and small business owners. We’re seeing the positive results of these efforts in our Assisted business and will apply learnings from the first half to deliver on our outlook for the fiscal year.”

The H&R Block earnings report doesn’t include an update to its fiscal 2020 outlook. Instead, it just reiterates its previous outlook for the year. Wall Street’s estimates are for adjusted earnings per share of $2.43 on revenue of $3.16 billion.

HRB stock was down 5.95% after-hours Thursday after closing the day down 4.71%.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/03/hr-block-earnings-hit-hrb-stock/.

©2021 InvestorPlace Media, LLC