H&R Block's stock experienced a significant surge after the company reported stronger-than-expected fourth-quarter earnings and announced several shareholder-friendly initiatives.
The tax preparation firm revealed that its revenue for the quarter ending June 30 increased slightly to $1.06 billion, up from $1.03 billion the previous year, surpassing analyst expectations. However, net profit for the quarter declined to $257.8 million from $302.3 million year-over-year, though it still exceeded consensus estimates compiled by Visible Alpha.
For the fiscal year 2024, H&R Block reported adjusted earnings per share (EPS) of $4.14 on total revenue of $3.61 billion. Looking ahead to fiscal 2025, the company projects adjusted EPS to rise to a range of $5.15 to $5.35, with revenue expected to grow to between $3.69 billion and $3.75 billion.
In addition to these positive financial results, H&R Block announced a 17% increase in its quarterly dividend, raising it to 37.5 cents per share. The company also introduced a new share-buyback program valued at $1.5 billion, reflecting confidence in its financial health and future growth prospects.
CEO Jeff Jones emphasized the company's ongoing progress, noting that the firm continues to gain valuable insights and convert client success into shareholder value. He expressed optimism about maintaining and building on this momentum in fiscal 2025 and beyond.
Following these announcements, H&R Block's stock price surged 18% shortly after the market opened on Friday, reaching $67.86. The stock has risen nearly 40% year-to-date, underscoring investor confidence in the company's strategic direction and financial outlook.
The tax preparation firm revealed that its revenue for the quarter ending June 30 increased slightly to $1.06 billion, up from $1.03 billion the previous year, surpassing analyst expectations. However, net profit for the quarter declined to $257.8 million from $302.3 million year-over-year, though it still exceeded consensus estimates compiled by Visible Alpha.
For the fiscal year 2024, H&R Block reported adjusted earnings per share (EPS) of $4.14 on total revenue of $3.61 billion. Looking ahead to fiscal 2025, the company projects adjusted EPS to rise to a range of $5.15 to $5.35, with revenue expected to grow to between $3.69 billion and $3.75 billion.
In addition to these positive financial results, H&R Block announced a 17% increase in its quarterly dividend, raising it to 37.5 cents per share. The company also introduced a new share-buyback program valued at $1.5 billion, reflecting confidence in its financial health and future growth prospects.
CEO Jeff Jones emphasized the company's ongoing progress, noting that the firm continues to gain valuable insights and convert client success into shareholder value. He expressed optimism about maintaining and building on this momentum in fiscal 2025 and beyond.
Following these announcements, H&R Block's stock price surged 18% shortly after the market opened on Friday, reaching $67.86. The stock has risen nearly 40% year-to-date, underscoring investor confidence in the company's strategic direction and financial outlook.
