H&R Block (HRB) Reports In-Line Q3 EPS

H&R Block (NYSE: HRB) reported Q3 EPS of ($0.50), in-line with the analyst estimate of ($0.50). Revenue for the quarter came in at $451.88 million versus the consensus estimate of $446.39 million.

• H&R Block Assisted and do-it-yourself (DIY) tax preparation businesses achieve market share gains in the first half of the tax season.
• Revenues and earnings for the fiscal 2017 third quarter impacted by delayed tax season; company reiterates financial outlook for full year.
• Revenues declined $23 million due to the delayed tax season, while total operating expenses declined $18 million primarily due to cost reduction efforts, which led to lower compensation and benefits and marketing costs.
• Loss per share increased $0.15 due entirely to reductions in the company's effective tax rate and shares outstanding. The reduction in shares outstanding will be accretive on a full year basis, but negatively impacts those quarters with a seasonal net loss.
• Repurchased approximately 4.4 million shares for an aggregate purchase price of $100 million during the third quarter, bringing total share repurchases for fiscal 2017 to approximately 14.0 million shares for $317 million.

For earnings history and earnings-related data on H&R Block (HRB) click here.

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