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H & R Block gains 10% on the back of strong fourth quarter

The firm posted EPS (earnings per share) of $3.76, up from $3.16 in the same three months in 2016.
H & R Block gains 10% on the back of strong fourth quarter
H & R Block was top gainer on S&P 500 on Wednesday..

Tax and payroll preparation specialists H & R Block Inc (NYSE:HRB) shares added nearly 10% on Wednesday as it posted strong fourth quarter results.

The firm posted EPS  (earnings per share) of $3.76 after the bell Tuesday, up from $3.16 in the same three months in 2016.

Analysts had expected  a figure of $3.53.

The group also increased its quarterly dividend by 8 cents to 24 cents a share, which is about a 3% return based on the current share price.

For the fiscal year to end April, there was a 10% improvement in net income from continuing operations to $421 million and an increase in earnings per share from continuing operations of $0.43 to $1.96, largely due to cost cutting measures.

""We came into this year with a very aggressive goal to change the client trajectory.  With competitive promotions, impactful marketing and an improved client experience, we achieved this goal and also produced strong financial results, all during a year in which the industry experienced a decline in returns," said Bill Cobb, H&R Block's president and chief executive officer, who is leaving at the end of July.

"I couldn't be more proud of our team who delivered these impressive results."


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December 06 2012

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