H&R Block Earnings: HRB Stock Ticks 3% Higher on Q1 EPS Beat

H&R Block (NYSE:HRB) earnings for the tax preparation company’s fiscal first quarter of 2021 have HRB stock up after-hours Tuesday. That’s due to its adjusted earnings per share of 55 cents beating out Wall Street’s estimate of 50 cents. However, its revenue of $601.03 million is below analysts’ estimate of $617.03 million.

Image of a yellow building featuring the H&R Block (HRB) logo
Source: Ken Wolter / Shutterstock.com

Here are some additional highlights from the most recent H&R Block earnings report.

  • Adjusted per-share earnings are a major increase over its adjusted losses per share of 66 cents during the same time last year.
  • Revenue for the quarter comes in 300% higher than the $150.36 million reported in fiscal Q1 2020.
  • The H&R Block earnings report also has it bringing in a net income of $91.26 million.
  • That’s a massive improvement over the company’s net loss of 150.25 million from the same period of the year prior.

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

“As evidenced by our strong finish to the tax season, we demonstrated innovation, agility, and resilience in navigating historic disruption and remained focused on helping our clients. Serving more clients this year than last is a testament to the strength of our brand and our ability to serve people in any way they prefer.”

H&R Block doesn’t include guidance in its current earnings report. That makes sense with the novel coronavirus causing problems for the economy. Many other companies are withholding outlooks at this time.

HRB stock was up 2.7% after-hours Tuesday and was up almost 1% when normal trading hours ended.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/09/hr-block-earnings-bump-hrb-stock-up/.

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