H&R BLOCK Reports FY2023 Q4 Earnings Results Two Months After Fiscal Year End
August 26, 2023
🌧️Earnings Overview
On August 15 2023, H&R ($NYSE:HRB) Block announced their Q4 earnings for the fiscal year ending June 30 2023, which reported total revenue of USD 1032.2 million, a decrease of 1.7% when compared to the same period in the prior year. Net income for the quarter was USD 302.3 million, representing a growth of 35.7% from the same period in the previous year.
Stock Price
H&R BLOCK, a tax services company, announced its results for the fourth quarter of fiscal year 2023 two months after the fiscal year ended. On Tuesday, H&R BLOCK stock opened at $35.2 and closed at $35.4, up 0.5% from the previous closing price of 35.2. This increase in share value indicates a positive sentiment among investors for the company’s financial results.
This increase in revenue was driven by higher service fees, along with increased activity in their tax preparation business. Investors were pleased with the results and the stock responded positively, reflecting their optimism for the company’s future prospects. 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 |
| 3.47k | 553.7 | 16.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for H&r Block. More…
| Operations | Investing | Financing |
| 821.84 | -101.39 | -750.99 |
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 |
| 3.07k | 3.04k | 0.21 |
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 |
| 9.6% | 59.9% | 22.6% |
| FCF Margin | ROE | ROA |
| 21.7% | -22648.7% | 16.0% |
Analysis
GoodWhale recently conducted an analysis of H&R BLOCK‘s wellbeing. After evaluating their financials using our Star Chart tool, we determined that H&R BLOCK has a high health score of 9/10 with regard to their cashflows and debt. This means that they are capable of paying off debt and adequately funding future operations. Based on our Star Chart, we classify H&R BLOCK as a ‘rhino’, a type of company which has achieved moderate revenue or earnings growth. We believe that H&R BLOCK appeals to a variety of investors as it is strong in dividend and profitability. However, it is relatively weak in terms of asset and growth. 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‘s earnings for their fourth quarter of FY2023 showed a decrease in total revenue of 1.7%, however, there was a significant increase in net income of 35.7%. This could be interpreted as a sign of positive growth, likely due to cost-cutting and strong cash flow management. Investors should consider the potential of H&R Block as a long-term investment option, which could benefit from the growth in net income going forward. It is also important to take into account the volatility of the market and other factors that may influence the company’s future performance.
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