H&R Block Posts $107 Million Q1 Loss; Adjusted Loss Narrowly Beats View, but Revenue Misses (HRB)


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Tax prep specialist H&R Block, Inc. ( HRB ) on Thursday posted a smaller first quarter loss, helped partially by recent cost-cutting initiatives.

The Kansas City-based company reported a fiscal first quarter net loss of $107 million, or -39 cents per share, compared with a worse loss of $175 million, or -57 cents per share, in the year-ago period. Excluding special items, HRB's adjusted loss was -38 cents per share.

Revenue fell 4% from last year to $96.5 million.

On average, Wall Street analysts expected a slightly worse loss of 39 cents per share, albeit on significantly higher revenue of $101.15 million.

H&R Block shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of H&R Block ( HRB ) have a 4.93% dividend yield, based on last night's closing stock price of $16.23. The stock has technical support in the $14.50-$15.00 price area. If the shares can firm up, we see overhead resistance around the $17-$18 price levels.

H&R Block, Inc. ( HRB ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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