H&R Block (NYSE: HRB) reported Q1 EPS of ($0.72), $0.05 better than the analyst estimate of ($0.77). Revenue for the quarter came in at $145 million versus the consensus estimate of $137.57 million.

• Fiscal first quarter financial results were in line with expectations.
• Revenues increased $7 million, or 5 percent, to $145 million primarily due to the timing of revenues related to the company's Tax Plus products.
• Pretax loss improved 3 percent to $199 million; loss per share from continuing operations2 increased $0.10 to $0.72 due to a lower effective tax rate, which negatively impacts those fiscal quarters with a seasonal net loss.
• The company repurchased and retired approximately 4.2 million shares at an aggregate price of $97 million, or $23.27 per share.
• The company reiterated its financial outlook for the full fiscal year.

"We are hard at work on our strategic initiatives for fiscal 2019, which include delivering an improved value proposition for our clients and differentiating H&R Block as the best choice for consumers," said Jeff Jones, H&R Block's president and chief executive officer. "By investing in pricing, technology, and operational excellence, we are positioning the company to accomplish our goal of sustainably growing clients, revenue, and earnings. We look forward to sharing more details on our progress throughout the year."

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