H&R Block (HRB) Q2 Loss Narrower Than Expected, Revenues Lag
Zacks Investment Research | Dec 05, 2019 06:21AM ET
H&R Block, Inc. (NYSE:HRB) incurred second-quarter fiscal 2020 adjusted loss per share from continuing operations of 85 cents, lower than the Zacks Consensus Estimate of loss of 91 cents.
Loss increased 2.4% year over year due to rise in pre-tax loss (12.6% year over year to $261.3 million) and lower shares outstanding, partially offset by an increased tax benefit. The company usually incurs loss in the first three quarters of any fiscal year due to the seasonality of its tax business.
We observe that shares of H&R Block have declined 7.8% year to date, against the 22.2% rally of the Zacks S&P 500 composite.
Revenues
Revenues of $160.8 million surpassed the consensus estimate by 1.2% and increased 8% year over year. The improvement was driven by contribution from Wave Financial acquisition and improved tax return volumes.
H&R Block, Inc. Revenue (TTM)
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