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Dec 31, 2022
H&R Block Q2 2023 Earnings Report
H&R Block's Q2 2023 financial performance reflected revenue growth and continued investment in share repurchases, while also reaffirming its full-year outlook.
Key Takeaways
H&R Block reported a 5% increase in revenue for the second quarter of fiscal year 2023, driven by a strong ending to the 2022 tax season. The company repurchased $130.4 million of shares during the quarter and reiterated its full-year outlook for 2023, which includes topline growth, EBITDA outperforming revenue growth, and EPS growing even faster.
Revenue increased by 5% due to strong tax season performance.
Operating expenses rose by 3%, influenced by higher wages and bad debt expense.
The company repurchased $130.4 million worth of shares, representing 2% of shares outstanding.
Fiscal year 2023 outlook reaffirmed, projecting revenue growth and improved profitability.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company continues to expect: •Revenue to be in the range of $3.535 to $3.585 billion •EBITDA4 to be in the range of $915 to $950 million •Effective tax rate to be approximately 22% •Adjusted diluted earnings per share4 to be in the range of $3.70 to $3.95 •Double-digit adjusted diluted earnings per share4 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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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