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H&R Block, Inc. (NYSE: HRB) stands as the world's largest tax services provider, having prepared over 650 million tax returns since its inception in 1955. Catering to a diverse clientele, H&R Block operates approximately 12,000 company-owned and franchise retail locations across all 50 U.S. states, Puerto Rico, and other U.S. territories. The company also has a presence in Canada, Australia, India, and on U.S. military bases worldwide. An H&R Block retail office is located within five miles of most Americans.
In the fiscal year 2015, H&R Block reported revenues exceeding $3.1 billion, preparing 24.2 million tax returns globally. The company’s services extend beyond retail locations, including digital tax solutions that have been aiding do-it-yourself clients for over 15 years. In FY 2015 alone, 6.9 million tax returns were completed through H&R Block's digital solutions. Employing around 9,000 bilingual tax professionals, H&R Block provides expert assistance in multiple languages.
Recent Achievements and Projects:
- AI Tax Assist: In December 2023, H&R Block introduced the H&R Block AI Tax Assist, a generative AI experience designed to streamline the tax preparation process. This innovation combines the company's extensive tax expertise with artificial intelligence to provide real-time, reliable assistance, ensuring accuracy and maximum refunds for individuals, the self-employed, and small business owners.
- Fiscal Updates: H&R Block will report its fiscal 2024 second quarter results on February 6, 2024. This will be followed by a conference call for stakeholders to discuss results and the company’s outlook.
- Leadership and Growth: Curtis Campbell, a seasoned executive with vast experience in the tax, fintech, and software industries, joined H&R Block to drive innovation and growth, especially in the consumer tax business.
- Direct Import Feature: To simplify the tax filing process, H&R Block launched the Direct Import feature, enabling users to seamlessly import prior year tax return data from TurboTax into H&R Block's online products.
- Minecraft Competitive League (MCL): H&R Block launched a unique Minecraft experience to engage young adult gamers, integrating custom versions of the game with a branded character, Sir Block, and offering in-game skins and avatars.
Beyond tax preparation, H&R Block provides financial products and small-business solutions through Block Advisors and Wave. These services include bookkeeping, payroll, advisory, and payment processing solutions, helping small-business owners thrive year-round. Additionally, H&R Block’s mobile banking app, Spruce, enhances its clients’ financial well-being.
For more detailed information, visit the company's official website at HRBlock.com.
H&R Block (NYSE: HRB) reported strong financial results for fiscal year 2024, with revenue increasing 4% to $3.6 billion and earnings per share from continuing operations rising 16% to $4.14. The company announced a 17% increase in its quarterly dividend to $0.375 per share and a new $1.5 billion share repurchase authorization.
Key highlights include:
- Repurchased $350 million of shares in FY24, reducing outstanding shares by 5.5%
- FY25 outlook projects continued revenue growth and improved EBITDA and earnings per share
- Effective tax rate for FY25 expected to be approximately 13%, positively impacting EPS by about $0.50
The company's strong performance and shareholder-friendly actions reflect confidence in its strategy and future prospects.
H&R Block (NYSE: HRB) is currently hiring seasonal tax professionals across the United States, offering remote-friendly opportunities. The company, which prepared over 20 million tax returns in 2024, is seeking candidates passionate about helping others and providing financial advice. H&R Block offers an Income Tax Course to train new hires and support their success.
Mark Darling, SVP of U.S. Retail Operations, emphasized the company's 70-year history and culture of collaboration, innovation, and personal growth. The role of a tax pro involves preparing and filing tax returns, staying updated on tax codes, and advising clients. Janet Freeman, a Senior Tax Analyst, shared her 24-year journey with H&R Block, highlighting the job's rewards and long-term client relationships.
H&R Block (NYSE: HRB) has appointed Scott Manuel as its new Chief Strategy and Operations Officer, effective August 7, 2024. This newly created role aims to drive the company's long-term strategy, leveraging data science and AI, while improving productivity across real estate and support operations. Manuel, reporting to CEO Jeff Jones, brings extensive experience in strategy, technology, and AI from his previous roles at Tribute Technology, McClatchy, and Thomson Reuters.
Manuel's appointment is part of H&R Block's efforts to transform into a more agile and innovative company, focusing on delivering increased value to clients, franchisees, associates, and shareholders. His expertise is expected to be important in expanding the company's product capabilities and driving business model transformation.
H&R Block (NYSE: HRB) has appointed Tiffany Mason as Executive Vice President, Finance, effective immediately. She will become the company's Chief Financial Officer on September 13, 2024, succeeding Tony Bowen, who announced his retirement earlier this year. Mason brings extensive experience in consumer services, retail, and franchising from her previous roles, including CFO at Driven Brands Holdings Inc. and senior finance positions at Lowe's Companies, Inc.
CEO Jeff Jones highlighted Mason's expertise in driving strategic initiatives, deploying capital investments, and creating shareholder value. Mason expressed excitement about joining H&R Block, praising the company's vision, culture, and commitment to innovation. She holds a BBA in Accounting from Loyola University Maryland and is a Certified Public Accountant.
H&R Block (NYSE: HRB) has announced it will release its fiscal 2024 fourth quarter and full year results on Thursday, August 15, 2024, after the New York Stock Exchange market close. The company will host a conference call at 4:30 p.m. Eastern time on the same day for analysts, institutional investors, and shareholders to discuss the results, outlook, and provide a general business update.
Interested parties can register for the live call at the provided link. The call will also be webcast in a listen-only format for media and public, accessible directly through the given webcast link. The webcast will be available for replay for 90 days after the call concludes.
H&R Block (NYSE: HRB) is offering free Mid-Year Care Check-Ins to help taxpayers maximize refunds and avoid surprises for the next tax season. This initiative comes as IRS data shows that while average refunds increased in 2024, fewer people received them. The company provides a free W-4 calculator tool to help filers adjust withholdings and account for side income.
A recent survey revealed that 81% of consumers prioritize maximizing take-home pay through tax withholding optimization, but only 28% feel they have adequate support. H&R Block emphasizes the importance of reassessing tax situations mid-year, especially after life changes like buying a home or changing jobs. The company also highlights the benefits of mid-year check-ins for small business owners and gig workers, including planning for tax reductions and ensuring compliance with new regulations.
On July 9, 2024, Block Advisors by H&R Block announced the winners of the 'Fund Her Future' grant program, awarding $100,000 in grants and a year of advisory services to five women-owned small businesses. Heather Jiang of Allégorie secured the grand prize of $50,000 for her sustainable fashion company. Other winners include Erica Cole of No Limbits, Ashley Ugarte of Hijita, Addie Gundry of Pluie, and Ameka Coleman of Strands of Faith, each receiving $12,500. The program aims to promote diverse women entrepreneurs and drive positive change.
H&R Block (NYSE: HRB) announced that CFO Tony Bowen and VP of Investor Relations, ESG, & Productivity Michaella Gallina will participate in the Oppenheimer 24th Annual Consumer Growth and E-Commerce Conference. They will host virtual investor meetings on June 12, 2024. Interested parties can schedule a meeting through their Oppenheimer salesperson.
Spruce, a mobile banking app built by H&R Block, now offers a high-yield interest rate of 3.50% APY on savings accounts, seven times the national average. This addition aims to help customers reach their savings goals faster, providing a transparent mobile banking experience with no monthly fees or minimum balance requirements. Customers can enjoy compounding interest, personalized saving goals, budget trackers, and cash back rewards, all while benefitting from fee transparency and courtesy overdraft coverage.
H&R Block reported positive fiscal 2024 third-quarter results with revenue growth of 4%, net income growth of 7%, and earnings per share growth of 18%. The company expects to be near the high end of its fiscal year 2024 outlook. Key financial metrics show total revenue increased by 4% to $2.2 billion, while total operating expenses increased primarily due to higher field wages. Capital allocation included a quarterly cash dividend of $0.32 per share and $350 million share repurchases. The company has returned over $3.8 billion to shareholders since 2016.
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