H&R Block Earnings: Here’s Why Investors are Selling Shares Now
H&R Block, Inc. (NYSE:HRB) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 5.99%.
H&R Block, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.40 in the quarter versus EPS of $-0.38 in the year-earlier quarter.
Revenue: Rose 31.62% to $127 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: H&R Block, Inc. reported adjusted EPS loss of $0.40 per share. By that measure, the company missed the mean analyst estimate of $-0.37. It beat the average revenue estimate of $98.4 million.
Quoting Management: “While we’re disappointed that it is not likely that we’ll be able to complete the bank transaction in time for this tax season, we remain focused on exiting our bank and continue to believe it is in the best interests of our shareholders,” said Bill Cobb, H&R Block’s President and CEO. “Our overall strategy has not changed, and we’re well positioned to continue growing our business profitably and to continue providing significant shareholder returns,” added Cobb.
Key Stats (on next page)…