H&R Block Swings to Q3 Loss, but Sees Positive Tax Data (HRB)


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Tax prep specialist H&R Block, Inc. ( HRB ) late Wednesday said it swung to a fiscal third quarter loss, although adjusted results beat analyst estimates, and the company said it's seeing positive data in the early part of tax season.

The Kansas City-based company reported a fiscal third quarter net loss of $12.7 million, or 4 cent per share, compared with a profit of $50.6 million, or 15 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 14 cents per share.

Revenue fell 9% from last year to $851.5 million.

On average, Wall Street analysts expected a smaller adjusted profit of just 4 cents per share, albeit on higher revenue of $871.5 million.

HRB offered some positive guidance for the current quarter, noting that it saw a 6% uptick in tax returns prepared through February when compared with last year. Digital performance lef the way, with total digital returns rising 13% and online returns jumping 30%.

H&R Block shares rose 82 cents, or +5.2%, in premarket trading Thursday.

The Bottom Line
Shares of H&R Block ( HRB ) have a 3.95% dividend yield, based on last night's closing stock price of $15.19. The stock has technical support in the $13 price area. If the shares can firm up, we see overhead resistance around the $16-$18 price levels.

H&R Block, Inc. ( HRB ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 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.

Created by Dividend.com

This article appears in: Investing Stocks
Referenced Stocks: HRB

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