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Mar 31, 2024
H&R Block Q3 2024 Earnings Report
H&R Block's Q3 2024 results reflected revenue growth, net income growth, and earnings per share growth, driven by strong DIY performance and positive trends in small business.
Key Takeaways
H&R Block reported a 4% increase in revenue, a 7% increase in net income, and an 18% increase in earnings per share for the third quarter of fiscal year 2024. The company expects to be near the high end of its previously announced outlook for fiscal year 2024.
Revenue increased by 4% to $2.2 billion, driven by higher net average charge and company-owned volumes in Assisted, higher online paid returns, and a higher NAC.
Earnings per share from continuing operations increased to $4.87, and adjusted earnings per share from continuing operations increased to $4.94.
Filing volumes increased year over year, driven by strong performance in DIY paid online clients, which grew 6%, partially offset by modest Assisted volume declines.
Net average charge grew 7% in DIY paid online and 4% in Assisted.
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.comOther 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 now expects to be near the high end of its previously provided outlook for fiscal year 2024.
Positive Outlook
- Revenue to be in the range of $3.530 to $3.585 billion.
- EBITDA to be in the range of $930 to $965 million.
- Adjusted Diluted Earnings Per Share to be in the range of $4.10 to $4.30.
- The effective tax rate is now expected to be in the range of 21-22% as compared to 23% previously.
Revenue & Expenses
Visualization of income flow from segment revenue to net income