H&R Block Reports Strong Fiscal 2022 Results; Increases Dividend & Announces New Share Repurchase Authorization

Rhea-AI Summary

H&R Block reported fiscal year 2022 results with revenues of $3.46 billion, a 3.5% decrease compared to the previous year. The company achieved a net income of $554 million and EPS of $3.26, reflecting an 11.2% decline. Despite lower revenues, H&R Block announced a 7% increase in its quarterly dividend to $0.29 per share and a new share repurchase program of $1.25 billion. Looking ahead, the company forecasts fiscal year 2023 revenues between $3.535 billion and $3.585 billion, with EPS guidance of $3.70 to $3.95.

Positive

• Increased quarterly dividend by 7% to $0.29 per share.
• New share repurchase authorization of $1.25 billion through fiscal year 2025.
• Expecting revenue growth in fiscal year 2023 between $3.535 billion and $3.585 billion.

Negative

• Total revenue decreased by $125 million, or 3.5% year-over-year.
• Net income dropped by $130 million, or 19% compared to last year.
• EPS declined by 11.2% from the previous year's performance.

KANSAS CITY, Mo., Aug. 09, 2022 (GLOBE NEWSWIRE) -- H&R Block, Inc. (NYSE: HRB) (the "Company") today released its financial results¹ for the fiscal year ended June 30, 2022.

• H&R Block reports fiscal year results exceeding its revenue and earnings outlook
• In fiscal year 2022, the Company completed share repurchases of $550 million at an average price of $23.84, retiring 13% of its total shares outstanding
• The Company announced a 7% increase in its quarterly dividend to $0.29 per share
• The Company announced a new share repurchase authorization of $1.25 billion available through fiscal year 2025
• The Company provided its FY23 outlook, guiding to growth in revenue, EBITDA, and adjusted earnings per share

"Fiscal year 2022 marked another year of strong performance, continuing a multi-year trend of driving shareholder value," said Jeff Jones, H&R Block's president and chief executive officer. "We produced another strong tax season and achieved meaningful milestones in our Block Horizons journey, including a record year in Small Business, launching our new mobile banking platform, Spruce, and more than tripling the use of virtual tools among tax clients. I am also pleased to announce that the Board of Directors has approved an increase to our dividend and a new share repurchase authorization as a result of the strength in our business and their confidence in our future."

Fiscal 2022 Results and Key Financial Metrics

“Our strong finish resulted in beating our revenue and earnings outlook," said Tony Bowen, H&R Block's chief financial officer. "Because of our robust free cash flow generation, we are able to return significant value to shareholders. This year we repurchased 13% of shares outstanding and are increasing the dividend by 7%. We continue to create value and are excited for the years ahead."

Fiscal year 2022 results are not comparable to the prior year period, as the 2020 tax deadline was extended to July 15 of that year due to the pandemic. As a result, 15 days of tax season 2020 were included in reported results for the year ended June 30, 2021. Therefore, to provide a more useful comparison, in the “Normalized Results” section below the Company has provided comparisons adjusted for the impacts of the extended 2020 tax season.

		Year Ended June 30,
(in millions, except EPS)		2022				2021
Revenue		$	3,463			$	3,589
Pretax Income		$	659			$	797
Net Income		$	554			$	684
Weighted-Avg. Shares - Diluted			171.4				187.3
EPS2		$	3.26			$	3.67
Adjusted EPS2		$	3.51			$	3.94
EBITDA2		$	890			$	1,051

• Total revenue of $3.46 billion decreased by $125 million, or 3.5%.
• Total operating expenses of $2.7 billion increased by $21 million, or 0.8%, primarily due to higher marketing and technology costs, partially offset by lower depreciation and amortization and bad debt.
• Pretax income of $659 million decreased by $138 million, or 17.3%, due to the decrease in revenue because of the 2020 tax season extension.
• Earnings per share from continuing operations of $3.26 decreased by $0.41, or 11.2%; adjusted earnings per share from continuing operations of $3.51 decreased by $0.43, or 10.9%.

Normalized² Results

When comparing fiscal year 2022 to the prior year results normalized² to remove the impacts of the tax season extension into July of 2020 and non-recurring Emerald Card stimulus activity:

(in millions, except EPS)		Year Ended June 30,											Normalized2 Year Ended June 30, 2021
		2022				2021				% Change							% Change
Total Revenue		$	3,463			$	3,589			(3.5	)%		$	3,298			5.0	%
Pretax Income		$	659			$	797			(17.3	)%		$	561			17.6	%
Adjusted EPS2		$	3.51			$	3.94			(10.9	)%		$	2.97			18.2	%
EBITDA2		$	890			$	1,051			(15.3	)%		$	815			9.2	%

• Total revenue of $3.46 billion increased by $165 million, or 5.0%.
• Pretax income of $659 million increased by $99 million, or 17.6%.
• Adjusted earnings per share from continuing operations² of $3.51 increased by $0.54, or 18.2%.
• EBITDA² of $890 million increased by $75 million, or 9.2%.

Capital Structure

The Company reported the following related to its capital structure:

• In fiscal year 2022, the Company repurchased and retired approximately 23 million shares, or 13% of shares outstanding, at an aggregate price of $550 million, or $23.84 per share.
• The Company announced today that the Board of Directors approved a new share repurchase authorization of $1.25 billion, effective through fiscal year 2025.
• The Company announced today that the Board of Directors increased the quarterly dividend by 7%, representing the sixth increase in seven years. The quarterly cash dividend is now $0.29 per share, payable on October 3, 2022, to shareholders of record as of September 8, 2022.

H&R Block has paid quarterly dividends consecutively since the Company became public in 1962. Since 2016, the Company has returned over $2.7 billion to shareholders in the form of share repurchases and dividends.

Outlook

For fiscal year 2023 the Company expects:

• Revenue to be in the range of $3.535 to $3.585 billion.
• EBITDA³ to be in the range of $915 to $950 million.
• Effective tax rate to be approximately 22%.
• Adjusted Diluted Earnings Per Share³ to be in the range of $3.70 to $3.95.

The Company expects double digit Adjusted Diluted Earnings Per Share3 growth annually through 2025.

Conference Call & Webcast

A conference call for analysts, institutional investors, and shareholders will be held at 4:30 p.m. Eastern time on Tuesday, August 9, 2022. During the conference call the company will discuss fiscal 2022 results, outlook, and a general business update. To join live, participants must register at https://register.vevent.com/register/BI1e6bb1dd7d67421f8c5a52396a15e904. Once registered, the participant will receive a dial-in number and unique PIN to access the call. Please join approximately 5 minutes prior to the scheduled start time.

The call, along with a presentation for viewing, will also be webcast in a listen-only format for the media and public. The webcast can be accessed directly at https://edge.media-server.com/mmc/p/bh45bypx and will be available for replay 2 hours after the call is concluded and continuing for 90 days.

About H&R Block

H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation services, financial products, and small-business solutions. The company blends digital innovation with human expertise and care as it helps people get the best outcome at tax time and also be better with money using its mobile banking app, Spruce. Through Block Advisors and Wave, the company helps small-business owners thrive with innovative products like Wave Money, a mobile-first, small-business bank account and bookkeeping solution that manages bookkeeping automatically. For more information, visit H&R Block News or follow @HRBlockNews on Twitter.

About Non-GAAP Financial Information

This press release and the accompanying tables include non-GAAP financial information. For a description of these non-GAAP financial measures, including the reasons management uses each measure, and reconciliations of these non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with generally accepted accounting principles, please see the section of the accompanying tables titled "Non-GAAP Financial Information."

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as "expects," "anticipates," "intends," "plans," "believes," "commits," "seeks," "estimates," "projects," "forecasts," "targets," "would," "will," "should," "goal," "could" or "may" or other similar expressions. Forward-looking statements provide management's current expectations or predictions of future conditions, events or results. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements. They may include estimates of revenues, client trajectory, income, effective tax rate, earnings per share, cost savings, capital expenditures, dividends, share repurchases, liquidity, capital structure, market share, industry volumes or other financial items, descriptions of management’s plans or objectives for future operations, products or services, or descriptions of assumptions underlying any of the above. They also include the expected impact of the coronavirus (COVID-19) pandemic, including, without limitation, the impact on economic and financial markets, the Company’s capital resources and financial condition, the expected use of proceeds under the Company’s revolving credit facility, future expenditures, potential regulatory actions, such as extensions of tax filing deadlines or other related relief, changes in consumer behaviors and modifications to the Company’s operations related thereto. All forward-looking statements speak only as of the date they are made and reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions, factors, or expectations, new information, data or methods, future events or other changes, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to a variety of economic, competitive and regulatory factors, many of which are beyond the Company's control, that are described in our Annual Report on Form 10-K for the fiscal year ended April 30, 2021 in the section entitled "Risk Factors" and additional factors we may describe from time to time in other filings with the Securities and Exchange Commission. You may get such filings for free at our website at https://investors.hrblock.com. In addition, factors that may cause the Company’s actual estimated effective tax rate to differ from estimates include the Company’s actual results from operations compared to current estimates, future discrete items, changes in interpretations and assumptions the Company has made, future actions of the Company, or increases in applicable tax rates in jurisdictions where the Company operates. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.

¹ All amounts in this release are unaudited. Unless otherwise noted, all comparisons refer to the current period compared to the corresponding prior year period.
² All per share amounts are based on fully diluted shares at the end of the corresponding period. The company reports non-GAAP financial measures of performance, including adjusted earnings per share (EPS), earnings before interest, tax, depreciation, and amortization (EBITDA) from continuing operations, normalized revenues, normalized pretax income, normalized EBITDA, and normalized adjusted earnings per share, and free cash flow, which it considers to be useful metrics for management and investors to evaluate and compare the ongoing operating performance of the company. See "About Non-GAAP Financial Information" below for more information regarding financial measures not prepared in accordance with generally accepted accounting principles (GAAP).
³ Adjusted Diluted Earnings Per Share (EPS) and earnings before interest, tax, depreciation, and amortization (EBITDA) from continuing operations are non-GAAP financial measures. Future period non-GAAP outlook includes adjustments for items not indicative of our core operations, which may include, without limitation, items described in the below section titled “Non-GAAP Financial Information” and in the accompanying tables. Such adjustments may be affected by changes in ongoing assumptions and judgments, as well as nonrecurring, unusual, or unanticipated charges, expenses or gains, or other items that may not directly correlate to the underlying performance of our business operations. The exact amounts of these adjustments are not currently determinable but may be significant. It is therefore not practicable to provide the comparable GAAP measures or reconcile this non-GAAP outlook to the most comparable GAAP measures.

For Further Information

Investor Relations:		Michaella Gallina, (816) 854-3022, michaella.gallina@hrblock.com
		Jordyn Eskijian, (816) 854-5674, jordyn.eskijian@hrblock.com
Media Relations:		Angela Davied, (816) 854-5798, angela.davied@hrblock.com

FINANCIAL RESULTS		(unaudited, in 000s - except per share amounts)
		Three months ended June 30,								Year ended June 30,
		2022				2021				2022				2021
REVENUES:
U.S. assisted tax preparation		$	638,018			$	608,331			$	2,094,612			$	2,140,410
U.S. royalties			55,694				60,503				225,242				238,629
U.S. DIY tax preparation			130,631				132,418				319,086				367,289
International			79,871				81,125				231,335				229,407
Refund Transfers			28,228				31,047				162,893				172,356
Emerald Card®			21,696				48,050				125,444				144,095
Peace of Mind® Extended Service Plan			35,264				34,421				94,637				97,851
Tax Identity Shield®			19,683				18,553				39,114				40,999
Interest and fee income on Emerald AdvanceSM			543				429				43,981				53,241
Wave			22,220				18,478				80,965				63,134
Other			18,225				12,415				45,961				41,234
Total revenues			1,050,073				1,045,770				3,463,270				3,588,645
Compensation and benefits:
Field wages			247,421				243,530				808,903				812,123
Other wages			83,974				75,487				284,689				280,304
Benefits and other compensation			60,194				57,102				206,902				211,382
			391,589				376,119				1,300,494				1,303,809
Occupancy			106,639				103,862				413,162				413,500
Marketing and advertising			60,448				50,654				284,244				264,745
Depreciation and amortization			34,716				37,782				142,178				154,818
Bad debt			12,018				19,197				71,778				82,353
Other			133,059				137,457				506,517				477,785
Total operating expenses			738,469				725,071				2,718,373				2,697,010
Other income (expense), net			465				1,498				2,454				4,989
Interest expense on borrowings			(18,621	)			(20,834	)			(88,282	)			(99,491	)
Income from continuing operations before income taxes			293,448				301,363				659,069				797,133
Income taxes			68,757				55,678				98,423				106,675
Net income from continuing operations			224,691				245,685				560,646				690,458
Net loss from discontinued operations			(1,988	)			(1,976	)			(6,972	)			(6,509	)
Net income		$	222,703			$	243,709			$	553,674			$	683,949
DILUTED EARNINGS PER SHARE:
Continuing operations		$	1.37			$	1.32			$	3.26			$	3.67
Discontinued operations			(0.01	)			(0.01	)			(0.04	)			(0.03	)
Consolidated		$	1.36			$	1.31			$	3.22			$	3.64
WEIGHTED AVERAGE DILUTED SHARES			163,283				184,849				171,435				187,316
Adjusted diluted EPS(1)		$	1.43			$	1.39			$	3.51			$	3.94
EBITDA(1)		$	346,785			$	359,979			$	889,529			$	1,051,442

⁽¹⁾   All non-GAAP measures are results from continuing operations. See "Non-GAAP Financial Information" for a reconciliation of non-GAAP measures.

CONSOLIDATED BALANCE SHEETS		(unaudited, in 000s - except per share data)
As of June 30,		2022				2021
ASSETS
Cash and cash equivalents		$	885,015			$	1,434,381
Cash and cash equivalents - restricted			165,698				149,783
Receivables, net			58,447				88,932
Income taxes receivable			202,838				330,872
Prepaid expenses and other current assets			72,460				76,414
Total current assets			1,384,458				2,080,382
Property and equipment, net			123,912				139,276
Operating lease right of use asset			427,783				445,847
Intangible assets, net			309,644				351,093
Goodwill			760,401				754,521
Deferred tax assets and income taxes receivable			208,948				181,996
Other noncurrent assets			54,012				61,273
Total assets		$	3,269,158			$	4,014,388
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES:
Accounts payable and accrued expenses		$	160,929			$	164,269
Accrued salaries, wages and payroll taxes			154,764				168,989
Accrued income taxes and reserves for uncertain tax positions			280,115				238,863
Operating lease liabilities			206,898				214,190
Deferred revenue and other current liabilities			196,107				196,175
Total current liabilities			998,813				982,486
Long-term debt			1,486,876				1,983,719
Deferred tax liabilities and reserves for uncertain tax positions			226,362				301,658
Operating lease liabilities			228,820				244,932
Deferred revenue and other noncurrent liabilities			116,656				113,535
Total liabilities			3,057,527				3,626,330
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY:
Common stock, no par, stated value $.01 per share			1,936				2,167
Additional paid-in capital			772,182				779,465
Accumulated other comprehensive income (loss)			(21,645	)			88
Retained earnings			120,405				286,694
Less treasury shares, at cost			(661,247	)			(680,356	)
Total stockholders' equity			211,631				388,058
Total liabilities and stockholders' equity		$	3,269,158			$	4,014,388

CONSOLIDATED STATEMENTS OF CASH FLOWS		(unaudited, in 000s)
Year ended June 30,		2022				2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income		$	553,674			$	683,949
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			142,178				154,818
Provision for bad debt			66,807				76,350
Deferred taxes			(53,352	)			33,775
Stock-based compensation			34,252				27,808
Changes in assets and liabilities, net of acquisitions:
Receivables			(37,889	)			(69,554	)
Prepaid expenses and other current and noncurrent assets			(1,944	)			(10,334	)
Accounts payable, accrued expenses, salaries, wages and payroll taxes			(19,645	)			85,062
Deferred revenue, other current and noncurrent liabilities			7,342				(994	)
Income tax receivables, accrued income taxes and income tax reserves			118,713				(214,586	)
Other, net			(1,599	)			(5,058	)
Net cash provided by operating activities			808,537				761,236
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures			(61,955	)			(53,053	)
Payments made for business acquisitions, net of cash acquired			(35,920	)			(17,024	)
Franchise loans funded			(18,467	)			(26,926	)
Payments from franchisees			30,899				43,643
Other, net			8,902				10,713
Net cash used in investing activities			(76,541	)			(42,647	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of line of credit borrowings			(705,000	)			(3,275,000	)
Proceeds from line of credit borrowings			705,000				1,275,000
Repayments of long-term debt			(500,000	)			(650,000	)
Proceeds from issuance of long-term debt			—				1,142,400
Dividends paid			(186,476	)			(195,068	)
Repurchase of common stock, including shares surrendered			(563,174	)			(193,551	)
Proceeds from exercise of stock options			6,334				2,537
Other, net			(14,030	)			(24,147	)
Net cash used in financing activities			(1,257,346	)			(1,917,829	)
Effects of exchange rate changes on cash			(8,101	)			13,457
Net decrease in cash and cash equivalents, including restricted balances			(533,451	)			(1,185,783	)
Cash, cash equivalents and restricted cash, beginning of the year			1,584,164				2,769,947
Cash, cash equivalents and restricted cash, end of the year		$	1,050,713			$	1,584,164
SUPPLEMENTARY CASH FLOW DATA:
Income taxes paid, net of refunds received		$	31,689			$	286,040
Interest paid on borrowings			81,960				92,756
Accrued additions to property and equipment			4,315				2,085
Accrued dividends payable to common shareholders			43,093				48,998

(in 000s, except per share amounts)
NON-GAAP FINANCIAL MEASURE - FISCAL YEAR 2022 COMPARED TO THE NORMALIZED TWELVE MONTHS ENDED JUNE 30, 2021		Year Ended June 30, 2022				Year Ended June 30, 2021				Normalized Year Ended June 30, 2021				Variance(1)
														$				%
Revenue - as reported		$	3,463,270			$	3,588,645			$	3,588,645			$	(125,375	)		(3.5	)%
Adjustments - normalization:
Impacts of Emerald Card Stimulus			—				—				(44,346	)
Tax Season impacts recognized in July 2020			—				—				(246,250	)
			—				—				(290,596	)
Revenues		$	3,463,270			$	3,588,645			$	3,298,049			$	165,221			5.0	%
Pretax income - as reported		$	659,069			$	797,133			$	797,133			$	(138,064	)		(17.3	)%
Adjustments - normalization:
Impacts of Emerald Card Stimulus and pandemic related sick pay and supplies			—				—				(32,546	)
Tax Season impacts recognized in July 2020			—				—				(204,060	)
			—				—				(236,606	)
Pretax income		$	659,069			$	797,133			$	560,527			$	98,542			17.6	%
Net income from continuing operations - as reported		$	560,646			$	690,458			$	690,458			$	(129,812	)		(18.8	)%
Adjustments - normalization:
Impacts of Emerald Card Stimulus and pandemic related sick pay and supplies (pretax)			—				—				(32,546	)
Tax Season impacts recognized in July 2020 (pretax)			—				—				(204,060	)
Tax effect of adjustments			—				—				55,023
			—				—				(181,583	)
Net income from continuing operations		$	560,646			$	690,458			$	508,875			$	51,771			10.2	%
Adjustments to net income from continuing operations:
Amortization of intangibles related to acquisitions (pretax)			56,292				66,246				66,246
Tax effect of adjustments(2)			(13,358	)			(16,237	)			(16,237	)
Adjusted net income from continuing operations		$	603,580			$	740,467			$	558,884			$	44,696			8.0	%
Diluted earnings per share from continuing operations - as reported		$	3.26			$	3.67			$	3.67			$	(0.41	)		(11.2	)%
Adjustments to normalize net income, net of tax			—				—				(0.97	)
Adjustments to remove amortization of intangibles, net of tax			0.25				0.27				0.27
Adjusted diluted earnings per share from continuing operations		$	3.51			$	3.94			$	2.97			$	0.54			18.2	%

⁽¹⁾ The variance is calculated as the difference between the year ended June 30, 2022 and the normalized year ended June 30, 2021.
⁽²⁾ The tax effect of adjustments is the difference between the tax provision calculation on a GAAP basis and on an adjusted non-GAAP basis.

(in 000s)
NON-GAAP FINANCIAL MEASURE - EBITDA		Year Ended June 30, 2022				Year Ended June 30, 2021				Normalized Year Ended June 30, 2021				Variance(1)
														$				%
Net income - as reported		$	553,674			$	683,949
Discontinued operations, net			(6,972	)			(6,509	)
Net income from continuing operations(2)			560,646				690,458				508,875
Add back:
Income taxes			98,423				106,675				51,652
Interest expense			88,282				99,491				99,491
Depreciation and amortization			142,178				154,818				154,818
			328,883				360,984				305,961
EBITDA from continuing operations		$	889,529			$	1,051,442			$	814,836			$	74,693			9.2	%

⁽¹⁾ The variance is calculated as the difference between the year ended June 30, 2022 and the normalized year ended June 30, 2021.
⁽²⁾ Net income from continuing operations for the normalized year ended June 30, 2021 is computed in the preceding table.

						(in 000s)
		Three months ended June 30,
NON-GAAP FINANCIAL MEASURE - EBITDA		2022				2021
Net income - as reported		$	222,703			$	243,709
Discontinued operations, net			(1,988	)			(1,976	)
Net income from continuing operations - as reported			224,691				245,685
Add back:
Income taxes			68,757				55,678
Interest expense			18,621				20,834
Depreciation and amortization			34,716				37,782
			122,094				114,294
EBITDA from continuing operations		$	346,785			$	359,979

		(in 000s, except per share amounts)
		Three months ended June 30,
NON-GAAP FINANCIAL MEASURE - ADJUSTED EPS		2022				2021
Net income from continuing operations - as reported		$	224,691			$	245,685
Adjustments:
Amortization of intangibles related to acquisitions (pretax)			13,151				15,848
Tax effect of adjustments(1)			(3,256	)			(3,648	)
Adjusted net income from continuing operations		$	234,586			$	257,885
Diluted earnings per share from continuing operations - as reported		$	1.37			$	1.32
Adjustments, net of tax			0.06				0.07
Adjusted diluted earnings per share from continuing operations		$	1.43			$	1.39

⁽¹⁾ The tax effect of adjustments is the difference between the tax provision calculation on a GAAP basis and on an adjusted non-GAAP basis.

NON-GAAP FINANCIAL INFORMATION

Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. Because these measures are not measures of financial performance under GAAP and are susceptible to varying calculations, they may not be comparable to similarly titled measures for other companies.

We consider our non-GAAP financial measures to be performance measures and a useful metric for management and investors to evaluate and compare the ongoing operating performance of our business. The normalized measures are intended to provide additional context around our results for the year ended June 30, 2021 by showing the impacts of the extended 2020 tax season. We make adjustments for certain non-GAAP financial measures related to amortization of intangibles from acquisitions and goodwill impairments. We may consider whether other significant items that arise in the future should be excluded from our non-GAAP financial measures.

We measure the performance of our business using a variety of metrics, including earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations, adjusted EBITDA from continuing operations, adjusted diluted earnings per share from continuing operations, normalized revenues, normalized pretax income, normalized EBITDA from continuing operations, normalized adjusted diluted earnings per share and free cash flow. We also use EBITDA from continuing operations and pretax income of continuing operations, each subject to permitted adjustments, as performance metrics in incentive compensation calculations for our employees.

FAQ

What were H&R Block's fiscal year 2022 revenues?

H&R Block reported revenues of $3.46 billion for fiscal year 2022.

What is H&R Block's adjusted earnings per share for fiscal year 2022?

The adjusted earnings per share for fiscal year 2022 were $3.51.

What is H&R Block's dividend increase for fiscal year 2022?

H&R Block announced a 7% increase in its quarterly dividend to $0.29 per share.

What is the share repurchase authorization amount announced by H&R Block?

H&R Block announced a new share repurchase authorization of $1.25 billion.

What is H&R Block's revenue outlook for fiscal year 2023?

H&R Block expects revenue in the range of $3.535 billion to $3.585 billion for fiscal year 2023.