| H&R Block, Inc. (NYSE: HRB) (the "Company") today released its financial results1 for the fiscal year ended June 30, 2024 |
- H&R Block reported full-year revenue of $3.6 billion (4% increase) and earnings per share from continuing operations2 of $4.14 (16% increase)
- In FY24, the Company repurchased $350 million, or another 5.5%, of shares outstanding at an average price of $43.66
- In FY24, the Company repurchased $350 million, or another 5.5%, of shares outstanding at an average price of $43.66
- The Company announced a new share repurchase authorization of $1.5 billion, which replaces the prior authorization
- The FY25 outlook guides to another year of revenue growth, EBITDA that outpaces revenue, and earnings per share that grows even faster
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| "In fiscal 2024 we made strides across our different products and services that provide value to our clients and help enable their financial confidence," said Jeff Jones H&R Block's president and chief executive officer. "We continue to make progress, gain new insight, and translate this client success into value for shareholders, and are well positioned to build on this momentum in fiscal 2025 and beyond." |
| Fiscal 2024 Results from Continuing Operations and Key Financial Metrics |
| "I am pleased with our financial performance in 2024 resulting in another year of strong free cash flow and capital allocation," said Tony Bowen, H&R Block's chief financial officer. "In addition, today's announcement of a 17% dividend increase and new $1.5B share repurchase authorization reflects the Board's support of our strategy and confidence in our future." |
| Year Ended June 30 |
| (in millions, except EPS) |
2024 |
2023 |
| Revenue |
$3,610 |
$ 3,472 |
| Pretax Income |
$ 762 |
$ 711 |
| Net Income |
$ 598 |
$ 562 |
| Weighted-Avg. Shares - Diluted |
143.9 |
157.2 |
| EPS2 |
$ 4.14 |
$ 3.56 |
| EPS2 |
$ 4.41 |
$ 3.82 |
| EBITDA2 |
$ 963 |
$ 915 |
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- Total revenue of $3.6 billion increased by $138.2 million, or 4.0%, primarily due to a higher net average charge and company-owned volumes in the Assisted category combined with greater online paid returns at a higher net average charge in DIY, partially offset by lower Emerald Card® activity in the current year.
- Total operating expenses of $2.8 billion increased by $81.6 million, or 3.0%, primarily due to higher labour costs and bad debt expense, partially offset by lower consulting and outsourced services.
- Pretax income of $762.3 million increased by $51.1 million, or 7.2%, primarily due to higher revenues in the current year.
- Earnings per share from continuing operations2 of $4.14 increased by $0.58, or 16.3%; adjusted earnings per share from continuing operations2 of $4.41 increased by $0.59, or 15.4%.
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| For the full document click the link below:
H&R Block |
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