H&R BLOCK Reports First Quarter Earnings Results for FY2024
November 26, 2023
🌧️Earnings Overview
On November 7 2023, H&R BLOCK ($NYSE:HRB) released its earnings results for the first quarter of FY2024, ending September 30 2023. Total revenue for this period increased by 2.1% from the previous year, amounting to USD 183.8 million. The company’s net income was reported as USD -163.5 million, a decrease from the -168.4 million reported in the same period last year.
Market Price
The stock opened at $41.8 and closed at $41.5, a decline of 0.7% from the previous closing price of $41.8. Revenue growth was also positive, albeit with some decreases in certain segments. The company is optimistic about its future prospects and is aiming to continue its success in the upcoming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for H&r Block. More…
| Total Revenues | Net Income | Net Margin |
| 3.48k | 558.64 | 16.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for H&r Block. More…
| Operations | Investing | Financing |
| 808.52 | -87.92 | -699.3 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for H&r Block. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.51k | 2.86k | -2.36 |
Key Ratios Snapshot
Some of the financial key ratios for H&r Block are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.0% | 12.3% | 22.8% |
| FCF Margin | ROE | ROA |
| 21.3% | -317.0% | 19.7% |
Analysis
GoodWhale conducted an analysis of the wellbeing of H&R Block and found that, according to Star Chart, their health score was 8/10 with regard to their cash flow and debt. This high score indicates that the company is capable of riding out any crisis without the risk of bankruptcy. Further analysis showed that H&R Block was strong in dividend and profitability, but weak in asset and growth. Based on these findings, we classified H&R Block as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. For investors looking for a company with reliable cash flow and dividend returns, H&R Block may be an attractive option. On the other hand, those investors seeking larger asset appreciation or growth should look elsewhere. Ultimately, it is up to the individual investor to decide if H&R Block meets their investment needs. More…
Peers
The company offers a variety of services, including online and in-person tax preparation, bookkeeping, and financial planning. H&R Block has a network of over 10,000 locations across the United States and Canada. The company’s competitors include Park Lawn Corp, StoneMor Inc, and XpresSpa Group Inc.
– Park Lawn Corp ($TSX:PLC)
Park Lawn Corporation is a provider of death care products and services in Canada and the United States. The company operates through three segments: Funeral, Cremation and Cemetery. It offers funeral and cemetery products and services, including caskets, urns, burial vaults, memorials, monuments, keepsakes, after-care, and pre-planning. The company also provides cremation products and services, such as cremation caskets and urns, as well as cremation jewellery. Park Lawn Corporation was founded in 1911 and is headquartered in Mississauga, Canada.
– StoneMor Inc ($NYSE:STON)
StoneMor Inc is a publicly traded death care company in the United States. It is headquartered in Trevose, Pennsylvania. The company was founded in 1996. StoneMor operates 301 cemeteries and 107 funeral homes in 27 states and Puerto Rico.
– XpresSpa Group Inc ($NASDAQ:XSPA)
As of 2022, XpresSpa Group Inc has a market cap of 65.62M. The company has a Return on Equity of -0.19%. XpresSpa Group Inc is a company that provides express spa services. The company offers a variety of services such as massages, facials, and manicures/pedicures.
Summary
H&R Block reported its first quarter earnings results for FY2024 ending September 30th 2023. Revenue was up by 2.1% to USD 183.8 million, while net income decreased from -168.4 million to -163.5 million. For investors considering H&R Block as an investment, it is important to note that the company’s total revenue has increased, yet net income has declined. It is important to evaluate the financial health of the company, as well as the outlook of the industry, before investing in the company to ensure a successful and profitable return.
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