H&R Block Posts Narrower Pretax Loss In Q2; Introduces Block Horizons Strategy

(RTTNews) - H&R Block, Inc. (HRB) reported a second quarter adjusted loss per share of $1.09 compared to a loss of $0.85, previous year. On average, nine analysts polled by Thomson Reuters expected the company to report a loss per share of $0.94, for the quarter. Analysts' estimates typically exclude special items. The company noted that its non-GAAP loss per share widened due solely to a lower effective tax rate resulting from favorable tax planning. Pretax loss improved to $237 million from $261 million.

Second quarter revenue increased to $177 million from $161 million, previous year. Analysts expected revenue of $163.68 million, for the quarter.

H&R Block also introduced its Block Horizons strategy, the next phase of the company's strategic transformation. Block Horizons includes three strategic imperatives grounded in customer insight, market testing and a solid base of current business.

H&R Block also updated its financial principles to reflect the company's new long-term strategy, including: annual revenue growth goal of 3-6% annually; EBITDA growing as fast or at a faster rate than revenue; and returning capital to shareholders through dividends and share repurchases.