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Sep 30, 2025
H&R Block Q1 2026 Earnings Report
H&R Block reported a net loss of $165.4 million for Q1 2026, with revenue increasing 5% year-over-year to $203.6 million.
Key Takeaways
Despite seasonally weak results, H&R Block posted a narrower net loss and increased revenue driven by assisted tax prep and Wave performance.
Revenue rose 5.0% year-over-year to $203.6 million
Net loss from continuing operations improved to $165.4 million
Adjusted EPS came in at -$1.20, slightly worse than prior year
Wave and assisted tax prep drove revenue growth
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
H&R Block reaffirmed its full-year outlook for fiscal 2026, expecting stable growth and profitability driven by strong product offerings and share repurchases.
Positive Outlook
- Revenue expected in the range of $3.875 to $3.895 billion
- EBITDA projected between $1.015 to $1.035 billion
- Effective tax rate expected to be around 25%
- Adjusted EPS guidance reaffirmed at $4.85 to $5.00
- Strong performance in Wave and Assisted Tax Prep segments
Challenges Ahead
- Continued net loss in Q1 due to seasonality
- Cash burn of over $356 million in operating activities
- Decline in Emerald & Spruce financial services revenue
- Higher interest expense impacting net results
Historical Earnings Impact
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Avg. Return Before/After Earnings
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