H&R Block, Inc. reports developments across its tax preparation, financial products, and small-business services business. Recurring updates cover assisted tax preparation, digital do-it-yourself filing, AI-enabled tax tools, changes in tax rules affecting filers, and seasonal operating results across U.S. assisted, DIY, international, Refund Transfer, and Wave activity.
The company also issues updates on capital allocation, including quarterly dividends and share repurchases, and on products tied to year-round money management and small-business support. Its brands and platforms include Spruce, Block Advisors, and Wave, which provide mobile banking, bookkeeping, payroll, advisory, and payment-processing services alongside the company’s core tax offerings.
H&R Block (HRB) reported a 5% revenue increase for Q2 FY2023, reaching $166.4 million, driven by strong tax season performance despite lower Emerald Card revenues. The company reiterated its fiscal year outlook, forecasting revenue between $3.535 to $3.585 billion. Share repurchases totaled $130.4 million, reducing shares outstanding by 2%. However, losses per share increased from $(1.09) to $(1.43) due to lower income tax benefits. Total operating expenses rose to $449.6 million, reflecting higher wages and bad debt, partially offset by favorable insurance reserves. H&R Block remains committed to returning value to shareholders through dividends and share buybacks.
H&R Block has appointed Terrell Brown as Vice President, Retail Sales and Service for the East Market, effective immediately. He will oversee seven regions across the Eastern U.S. and report to Bob Moretti, Senior Vice President of U.S. Retail Operations. Brown, a ten-year veteran at H&R Block, previously led multiple regions and developed the Field Leader Development Program, resulting in a significant increase in district general managers. His leadership in the Tax Pro Experience programs has been recognized with multiple awards, demonstrating his contribution to the company's growth and operational strategies.
KANSAS CITY, Mo., Feb. 1, 2023 – H&R Block (NYSE: HRB) has declared a quarterly cash dividend of $0.29 per share, payable on April 5, 2023, to shareholders of record by March 7, 2023. The company has maintained a consistent dividend payment for over sixty years, having gone public in 1962.
Since 2016, H&R Block has increased its dividend by over 45% and returned nearly $3 billion to shareholders through dividends and share repurchases.
H&R Block (NYSE: HRB) is set to enhance the 2023 Tax Season with innovative Tax Prep Tailgate events on February 12, 2023. The firm will host Do-It-Yourself tax filing activities in Baltimore, Phoenix, and Birmingham, while also sponsoring games at Guy Fieri’s Flavortown Tailgate in Glendale, Arizona. These events aim to make tax filing a festive experience, coinciding with one of the busiest tax filing days. Attendees can enjoy complimentary food and drinks while filing taxes using H&R Block’s Online DIY product. Participants on social media may also receive special rewards, promoting engagement.
H&R Block (NYSE: HRB) has launched an innovative feature in its Online DIY product, powered by artificial intelligence, to enhance customer tax refund opportunities. This new capability automatically detects potential additional refunds from the prior year's TurboTax returns when users switch to H&R Block. Initial models indicate this technology has uncovered millions in extra refunds. Customers only incur charges if they choose to amend their return based on the findings. This approach, which leverages advanced AI algorithms and machine learning, marks a significant evolution in tax preparation, aiming to optimize financial outcomes for taxpayers.
H&R Block (NYSE: HRB) announces the release of its fiscal 2023 second quarter results on February 7, 2023, post-market. A press release and accompanying presentation will be available on the company's investor relations website. Following the results, H&R Block will conduct a conference call at 4:30 PM Eastern to discuss financial results and outlook. Interested participants must register in advance to receive access details. The call will also be webcast for public viewing and available for replay for 90 days.
H&R Block (NYSE: HRB) launched its It’s Tax Season campaign on January 1, 2023, focusing on the convenience of its DIY tax product and the expertise of its 60,000 tax professionals. The campaign aims to reframe tax season as a joyous experience, highlighting the empowerment of clients engaging with diverse income streams. Created by Ogilvy New York, it offers a positive tone, underscoring the benefits of H&R Block's services while contrasting the company’s transparent approach with competitors' tactics. The initiative promotes confidence in tax preparation and financial management.
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