H&R Block Shares Up 4% on Q4 Beat, Strong Guidance, & New Share Buyback
2022.08.10 01:06
H&R Block Shares Up 4% on Q4 Beat & Strong Guidance, Announces New Share Buyback
By Davit Kirakosyan
Investing.com – H&R Block (NYSE:HRB) shares rose around 4% after-hours following the company’s reported Q4 results, with EPS of $1.43 coming in better than the consensus estimate of $1.24. Revenue was $1.05 billion, beating the consensus estimate of $996.33 million.
For the full 2023 fiscal year, the company expects EPS to be in the range of $3.70-$3.95, better than the consensus estimate of $3.46. Full-year revenue is expected in the range of $3.535-3.585 billion, again better than the consensus estimate of $3.41 billion. The company anticipates double-digit adjusted diluted EPS growth annually through 2025.
According to Jeff Jones, H&R Block’s president and CEO, fiscal 2022 results marked another year of strong performance, continuing a multi-year trend of driving shareholder value, with the company achieving meaningful milestones in its Block Horizons journey, including a record year in Small Business, launching its new mobile banking platform, Spruce, and more than tripling the use of virtual tools among tax clients.
The company also announced that its Board of Directors approved a new share repurchase authorization of $1.25 billion, available through the fiscal year 2025.
Furthermore, the company announced that its Board of Directors increased its quarterly dividend by 7% to $0.29 per share, representing the sixth increase in seven years. The dividend is payable on October 3 to shareholders of record as of September 8.
