H&R Block (HRB) Misses Q2 EPS by 3c

H&R Block (NYSE: HRB) reported Q2 EPS of ($0.45), $0.03 worse than the analyst estimate of ($0.42). Revenue for the quarter came in at $135 million versus the consensus estimate of $142 million.

"I am pleased with the progress we've made this offseason in preparation for tax season 2015. We've made important investments in our business this year, which will enable us to improve the customer experience and operate more productively in the coming years," said Bill Cobb, H&R Block's president and chief executive officer. "Our Tax Plus strategy is yielding results, and we look forward to continuing our strong momentum this tax season."

Business Segment Results and Highlights
Tax Services

• Revenues increased 1 percent to $129 million, driven by higher tax prep fees in the U.S. and Australia, and improved off season usage of the H&R Block Prepaid MasterCard, the Emerald Card®
• Total operating expenses increased 6 percent to $302 million, driven by higher depreciation and amortization from planned office and technology upgrades and increased wages
• Adjusted non-GAAP pretax loss increased 13 percent to $178 million

Corporate

• Total expenses increased $1 million to $30 million, primarily due to higher wages, partially offset by lower provisions for losses on mortgage loans held for investment
• Pretax loss increased by $4 million to $24 million

For earnings history and earnings-related data on H&R Block (HRB) click here.

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