H&R Block Inc. (HRB) has announced a greater loss for the first quarter compared to the previous year, though it surpassed Wall Street predictions.
The company recorded a net loss of $172.6 million, equivalent to a loss of $1.24 per share. This is in comparison to last year's first-quarter loss of $163.5 million, or $1.12 per share.
When excluding certain items, the adjusted loss for H&R Block Inc. was $162.9 million, or $1.17 per share, for the quarter.
Analysts, based on data from Thomson Reuters, had anticipated an average loss of $1.18 per share, typically not accounting for special items.
In terms of revenue, the company saw a 5.4% increase to $193.810 million, up from $183.800 million in the first quarter of the previous year.
A summary of H&R Block Inc.'s first-quarter earnings under GAAP is as follows:
- Earnings: Loss of $172.6 million versus a loss of $163.5 million in the same period last year.
- Earnings per Share (EPS): Loss of $1.24 compared to a loss of $1.12 last year.
- Revenue: $193.810 million compared to $183.800 million last year.
For the full year, H&R Block Inc. has provided guidance estimating its EPS to range from $5.15 to $5.35, with projected revenue between $3.69 billion and $3.75 billion.
