H&R Block Reports U.S. Tax Results Through April 18; To Announce Fiscal 2014 Results on June 11
- Total revenues increase over the prior year, due to pricing changes, improved client mix, and online monetization efforts
- As anticipated, share of total U.S. returns to decline, primarily due to company’s decision to discontinue its free Federal 1040EZ promotion
H&R Block, Inc. (NYSE: HRB), the world’s largest consumer tax services provider, today released its U.S. tax results through April 18. Total U.S. revenues increased compared to the prior year despite a decrease in tax returns prepared of 3.6 percent1 to 20.7 million. As anticipated, the decrease in returns was primarily due to the company’s discontinuation of its free Federal 1040EZ promotion.
“We entered the season with a strong plan focused on delivering value for our clients and growing revenue, and we executed well against this plan” said Bill Cobb, H&R Block’s president and chief executive officer. “By continuing our focus on enhancing the client experience, we’ve seen an overall improvement in our customer satisfaction scores, which positions us well for our growth initiatives in fiscal 2015 and beyond.”
Tax returns prepared through the company’s online tax software products increased 0.7 percent through April 18. Total U.S. assisted returns prepared fell 6.1 percent primarily due to the discontinuation of the company’s Free Federal 1040EZ promotion. Total revenues increased as changes to pricing, improved client mix, and online monetization efforts more than offset the impact of fewer returns prepared.
“We made significant enhancements to our online offering that led to improved conversion and monetization,” said Cobb. “Additionally, the focus on our Tax Plus strategy of attaching more financial services products yielded positive results, as a greater proportion of our clients are benefitting from using our financial products. ”
H&R Block to Announce Fiscal 2014 Results on June 11
In conjunction with the announcement of fiscal 2014 results, the company will host a conference call at 4:30 p.m. Eastern time on June 11, 2014 for analysts, institutional investors, and shareholders to discuss fiscal 2014 results, future outlook and a general business update. To access the call, please dial the number below approximately 10 minutes prior to the scheduled starting time:
U.S./Canada (888) 895-5260 or International (443) 842-7595
Conference ID: 34435396
The call will also be webcast in a listen-only format for the media and public. The link to the webcast can be accessed directly at investors.hrblock.com. A replay of the call will be available beginning at 6:30 p.m. Eastern time on June 11, 2014, and continuing until July 12, 2014, by dialing (855) 859-2056 (U.S./Canada) or (404) 537-3406 (International). The conference ID is 34435396. The webcast will be available for replay June 11, 2014 at investors.hrblock.com.
1 Unless otherwise noted, all comparisons refer to current fiscal year-to-date results compared to prior fiscal year-to-date results.
About H&R Block
H&R Block, Inc. (NYSE: HRB) is the world’s largest consumer tax services provider. More than 625 million tax returns have been prepared worldwide by and through H&R Block since 1955. In fiscal 2013, H&R Block had annual revenues of $2.9 billion with 24.8 million tax returns prepared worldwide. Tax return preparation services are provided in over 11,000 company-owned and franchise retail tax offices worldwide by professional tax preparers, and through H&R Block Tax Software products. H&R Block Bank provides affordable banking products and services. For more information, visit the H&R Block Newsroom.
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For Further Information:
Learn about H&R Block's fiscal 2020 first quarter esults.
Learn about H&R Block's fiscal 2020 second quarter results.
Learn more about H&R Block's quarterly cash dividend announcement payable April 1, 2020.