KANSAS CITY, MO (STL.News) – H&R Block, Inc. (NYSE: HRB) today released its financial results for the fiscal 2020 first quarter ended July 31, 2019. The company normally reports a fiscal first quarter loss due to the seasonality of its tax business. The fiscal first quarter typically represents less than 5% of annual revenues and less than 15% of annual expenses.
“Our fiscal first quarter results were consistent with our expectations and reflect the seasonality of our business, as well as investments related to our enterprise strategy,” said Tony Bowen, H&R Block’s chief financial officer. “I’m pleased with the progress we are making on our strategy, and we remain on track to achieve our revenue and margin outlook for the fiscal year.”
NOTE: this is NOT the complete report.