Block (H.&R.), Inc. Stock Price, News & Analysis

H&R Block announced organizational changes to enhance its transformation strategy, Block Horizons 2025, following strong performance in the 2021 tax season, achieving significant market share gains. The five-year strategy focuses on three imperatives: small business, financial products, and Global Consumer Tax. The restructuring includes nearly 90 promotions and the introduction of a mobile-first financial solution. These initiatives aim to improve client experiences and maximize shareholder value.

H&R Block (NYSE: HRB) and Nextdoor are expanding their partnership with 10 new community-led projects aimed at enhancing social cohesion across the U.S. More than 1,500 project submissions from residents were reviewed, leading to initiatives in 20 states that will impact 2.3 million residents.

These projects, including community gardens and playground upgrades, are designed to combat social isolation and foster neighborhood connections. H&R Block aims to improve 500 communities nationwide by 2025 through such initiatives.

H&R Block (HRB) reported strong growth in the 2021 U.S. tax season, achieving significant market share gains, particularly in the Assisted category where it gained approximately 0.7%. The company estimates total revenue for fiscal 2021 to be between $3.400 to $3.415 billion, with net income projected at $585 million to $591 million. The shift towards digital engagement led to a more than 50% increase in digital interactions with assisted clients. H&R Block will release its full fiscal results on June 15, 2021, and expects robust performance overall.

H&R Block (NYSE: HRB) announced the appointment of three new vice presidents to enhance its operations in investor relations, financial services, and information security. Crystal Anderson, promoted to vice president of financial services, will lead the launch of a new mobile banking platform. Michaella Gallina joins as vice president of investor relations, tasked with communicating the company’s transformation to investors. Joshua Brown, now chief information security officer, will oversee security threats to support H&R Block’s growth strategy.

KANSAS CITY, Mo., April 27, 2021 – H&R Block (NYSE: HRB) announced its management will hold virtual investor meetings at Credit Suisse’s 3rd Annual Virtual eXtreme Services Conference on May 7, 2021. Interested parties can request a meeting through their Credit Suisse salesperson.

The company focuses on tax preparation, financial products, and small business solutions, blending digital innovation with human expertise. H&R Block aims to help clients achieve the best outcomes for tax time and manage their finances year-round.

H&R Block has appointed two new board members, Mia Mends and Sean Cohan, effective April 1, 2021. Mends, previously the Chief Administrative Officer at Sodexo, brings extensive experience in diversity and operational performance. Cohan, Chief Growth Officer at Nielsen, is known for driving significant international growth. Their appointments come as H&R Block embarks on a transformation journey, focusing on enhancing support for small businesses and improving financial solutions for the unbanked. The leadership changes are expected to strengthen the company's direction in blending digital and personal service.

H&R Block (NYSE: HRB) is poised to assist clients in claiming the new tax break for unemployment income as part of the American Rescue Plan Act. Clients who filed taxes with unemployment income in 2020 need not amend their returns, as per IRS guidance. The plan exempts the first $10,200 of unemployment income from taxation for eligible taxpayers. H&R Block is offering resources and updates to clients, addressing tax implications and job search credits, as states finalize their alignment with the federal tax break.

Block Advisors, a division of H&R Block, aims to assist small business owners in navigating the complexities of tax implications associated with pandemic-related stimulus aids, including the Payroll Protection Program and Economic Injury Disaster Loans. Recent findings reveal that just 28% of small business owners feel confident in understanding these financial impacts. Furthermore, 69% of owners value professional tax assistance. Block Advisors offers services designed to alleviate tax burdens, helping businesses thrive amidst ongoing financial challenges.

H&R Block (NYSE: HRB) announced on March 16, 2021, that the processing of third stimulus payments to Emerald Cards was completed. The IRS indicated that payments would be available in bank accounts by March 17. H&R Block has collaborated with the IRS to streamline this process. Clients can verify their payments through the myBlock app or by contacting the Emerald Card support line. Additionally, further stimulus payments may be accessible if conditions change during tax filings. More information can be found on H&R Block’s website regarding COVID-19 relief impacts on taxes.