H&R Block Earnings: HRB Stock Jumps 2% After Beating Q4 Estimates

H&R Block (NYSE:HRB) earnings for the financial services company’s fiscal fourth quarter of 2020 have HRB stock on the rise after-hours Tuesday. This comes after reporting adjusted earnings per share of $3.01 on revenue of $1.81 billion. For comparison, Wall Street was expecting adjusted EPS of $2.61 on revenue of $1.74 billion.

H&R Block Earnings: HRB Stock Jumps 2% After Beating Q4 Estimates

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Here’s a deeper breakdown of the most recent H&R Block earnings report.

  • Adjusted per-share earnings are down 31.4% from $4.39 during the same period of the year prior.
  • Revenue for the quarter is sitting 22.3% lower than the $2.33 billion reported in the fiscal fourth quarter of 2019.
  • The H&R Block earnings report also has it bringing in a net income of $460.4 million.
  • That’s a 47.6% drop from its net income of $877.91 million from the same time last year.

Jeff Jones, president and CEO of H&R Block, said this about the current earnings.

“This has obviously been a challenging time for everyone, and I’m so proud of how our associates, tax pros, and franchisees responded in the face of the pandemic. This has impacted our business and challenged us to be agile and innovative as we made broad changes to our operating model in order to continue to help our clients.”

H&R Block doesn’t discuss guidance for fiscal 2021 in its earnings report. What it does mention is further tax season data. The company says it will provide the remaining details from the season during its fiscal Q1 2021 earnings report.

HRB stock was up 2.3% after markets closed on Tuesday and was up 1.6% at the end of normal trading hours.

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/2020/06/hr-block-earnings-send-hrb-stock-up/.

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