H&R Block (HRB) Misses Q3 EPS by 10c

H&R Block (NYSE: HRB) reported Q3 EPS of ($0.34), $0.10 worse than the analyst estimate of ($0.24). Revenue for the quarter came in at $474.5 million versus the consensus estimate of $501.78 million.

"As we are no longer regulated as a savings and loan holding company, we have been able to return to our historical practice of repurchasing shares opportunistically to create shareholder value," said Greg Macfarlane, H&R Block's chief financial officer. "In the last two fiscal quarters, we repurchased 52.5 million shares, or $1.9 billion of H&R Block stock, representing 19 percent of total outstanding shares. We are confident in the future of H&R Block and look forward to continuing as the leading tax preparation company for years to come."

"Additionally, Sand Canyon took significant steps toward the resolution of its representation and warranty obligations by settling with some of the counterparties that asserted claims against them," added Macfarlane. "While we believe the wind-down of Sand Canyon will continue to take time, it's positive to see progress."

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

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