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Sep 30, 2022
H&R Block Q1 2023 Earnings Report
Reported first quarter fiscal year 2023 results, meeting expectations and reiterating full year outlook.
Key Takeaways
H&R Block's first quarter fiscal 2023 results were in line with expectations, with extension conversions increasing 5% over the prior year. The company repurchased $219.8 million of shares and reaffirmed its fiscal year 2023 outlook.
Q1 performance met expectations, and extension conversions increased 5% over the prior year
Reiterated fiscal year 2023 outlook
Repurchased $219.8 million of shares, retiring another 3% of shares outstanding
Block Advisors launched a new self-serve business formation product
H&R Block
H&R Block
H&R Block Revenue by Segment
H&R Block Revenue by Geographic Location
Revenue by Segment
U.S. Assisted Tax Prep Revenue
CapyFin.comU.S. Royalties Revenue
CapyFin.comU.S. DIY Tax Prep Revenue
CapyFin.comRefund Transfers Revenue
CapyFin.comPeace of Mind Plan Revenue
CapyFin.comTax Identity Shield Revenue
CapyFin.comEmerald Card & Spruce Revenue
CapyFin.comEmerald Advance Interest & Fees Revenue
CapyFin.comInternational Revenue
CapyFin.comWave Revenue
CapyFin.comRevenue by Geographic Location
International Revenue
CapyFin.com Forward Guidance
The Company continues to expect: •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 •Double-digit Adjusted Diluted Earnings Per Share3 growth annually through 2025
Positive Outlook
- Revenue to be in the range of $3.535 to $3.585 billion
- EBITDA to be in the range of $915 to $950 million
- Effective tax rate to be approximately 22%
- Adjusted Diluted Earnings Per Share to be in the range of $3.70 to $3.95
- Double-digit Adjusted Diluted Earnings Per Share growth annually through 2025
Revenue & Expenses
Visualization of income flow from segment revenue to net income