Tax preparation company H&R Block, Inc. (HRB) is slated to announce its first-quarter results before market the opens today. Wall Street analysts forecast a loss for the first quarter, although narrower than last year, reflecting cash-wary customers' tight spending amid financial crisis.
The company, which claims more than 22 million customers worldwide, operates 12,500 retail tax offices in the U.S. and another 1,400 abroad. The company also offers banking, personal finance and business consulting services.
Analysts polled by Thomson Reuters expect a loss of $0.37 per share for H&R Block in the first quarter, on revenues of $280.05 million. This compares with the year-ago quarter loss of $0.40 per share, on revenues of $280.05 million.
For the preceding fourth quarter, H&R Block, the largest U.S. tax preparer, reported a 30% increase in its profit, as better cost control offset a slight decrease in revenue. The Kansas City, Missouri-based company reported net income of $706.9 million or $2.09 per share, compared with $543.6 million or $1.66 per share for the prior-year quarter.
The company's total revenue dropped 2.8% in the fourth quarter to $2.47 billion from $2.54 billion in the same quarter last year. Tax services revenue declined to $2.1 billion from $2.2 billion a year earlier.
H&R Block then said that it expects fiscal 2010 earnings per share from continuing operations in the range of $1.60 - $1.80. Analysts currently expect the company to earn $1.65 per share for the fiscal year 2010.
Among peers, tax preparation and financial management software maker Intuit Inc. (INTU) reported wider loss for the fourth quarter, as revenue remained nearly flat and costs and expenses rose. The Mountain View, California-based company reported a GAAP net loss of $70.7 million or $0.22 per share, wider than $61.9 million or $0.19 per share in the year-ago quarter. Net revenue declined to $475.77 million from $478.15 million in the same quarter last year.
For the first quarter, Intuit expects revenue of $479 million -$493 million, GAAP net loss of $0.28 - $0.24 per share and non-GAAP net loss of $0.19 - $0.15 per share. Analysts currently expect the company to report a loss of $0.15 per share on revenues of $487.88 million for the first quarter.
Another rival, Parsippany, New Jersey-based Jackson Hewitt Tax Service Inc. (JTX), on September 3, posted a wider first-quarter loss, reflecting the impact of termination charges incurred in July, despite increased revenues. The company's net loss for the three months ended on July 31 widened to $21.84 million or $0.76 per share from $20.54 million or $0.72 per share a year ago. Reported revenues increased to $5.05 million from $4.29 million in the same quarter last year.
HRB closed Thursday's trading at $17.01, up $0.28, on a volume of 3.16 million shares.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.