H&R Block Announces Fiscal 2021 First Quarter Results

KANSAS CITY, MO (STL.News) H&R Block, Inc. (NYSE: HRB) today released its financial results for the fiscal 2021 first quarter ended July 31, 2020.

  • Strong finish to the tax season resulted in total U.S. tax filing growth of 3.3%2.
  • Fiscal first quarter financial results improved significantly compared to the prior year due to the extension of the most recent tax season to July 15; revenues increased 300% to $601 million.
  • Pretax earnings of $124 million compared to a pretax loss of $207 million in the prior year. GAAP earnings per share from continuing operations (EPS) improved to $0.48 compared to a loss of $(0.72), while non-GAAP adjusted EPS4 improved to $0.55 compared to a loss of $(0.66).
  • Following the fiscal first quarter, the company completed the issuance of $650 million aggregate principal amount of 3.875% notes due August 2030 and intends to use the proceeds to repay existing senior notes at maturity in October 2020.
  • The company entered into a long-term agreement with MetaBank, N.A. (“Meta”) in August to act as the facilitator of the Company’s suite of financial services products.

“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,” said Jeff Jones, H&R Block’s president and chief executive officer.  “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.”

NOTE: this is NOT the complete release.