H&R Block Reports Tax Return Volume Through April 18; To Announce Fiscal 2013 Results on June 12
KANSAS CITY, MO -- (Marketwired) -- 04/25/13 -- H&R Block, Inc. (NYSE: HRB)
- Share of total U.S. returns essentially flat compared to prior year
- 22.0 million total U.S. clients served, down 190,000 or 0.9 percent1
- Online returns grew 10.4 percent; total digital returns increased 3.2 percent
H&R Block, Inc. (NYSE: HRB), the world's largest consumer tax services provider, today released its U.S. tax return volume through April 18. Total U.S. returns decreased 0.9(1) percent compared to the prior year to 22.0 million.
"The industry experienced unprecedented delays and changes to the timing of taxpayer filings this tax season which created significant challenges," said Bill Cobb, H&R Block's president and chief executive officer. "I am pleased that we remained focused and executed well as we closed the tax season. We remain committed to our long-term growth initiatives for fiscal 2014 and beyond," added Cobb.
Total tax returns prepared through the company's H&R Block At Home™ digital products increased 3.2 percent through April 18, led by strong online unit growth of 10.4 percent. Total U.S. assisted returns prepared fell 2.8 percent due in part to lower overall IRS filings than expected as well as changes in the company's Free Federal 1040EZ promotion, which was offered for a limited time through February 15 this tax season.
Based on available data through April 18, the company's preliminary analysis suggests that its share of total U.S. tax returns was essentially flat compared to the prior year as share gains of approximately 50 basis points in the digital online category were offset by an approximate 30 basis point decline in share in the assisted category.
"By executing on our strategic initiatives, we continue to strengthen our position in the key digital online category. Our overall mix of digital clients improved this year and we gained online market share for the third consecutive year," said Cobb.
H&R Block to Announce Fiscal 2013 Results on June 12
The company will announce fiscal 2013 results on Wednesday, June 12, 2013, after the New York Stock Exchangemarket close. At that time, a copy of the press release will be available on the company's investor relations website at http://investors.hrblock.com.
At 4:30 p.m. Eastern on June 12, 2013, the company will host a conference call for analysts, institutional investors and shareholders. To access the call, please dial the number below approximately 5 to 10 minutes prior to the scheduled starting time:
U.S./Canada (877) 809-6980 or International (706) 758-0071
Conference ID: 57796144
The call will also be webcast in a listen-only format for the media and public. The link to the webcast can be accessed directly at http://investors.hrblock.com.
A replay of the call will be available beginning at 6:30 p.m. Eastern on June 12, 2013, and continuing until July 12, 2013, by dialing (855) 859-2056 (U.S./Canada) or (404) 537-3406 (International). The conference ID is 57796144. The webcast will be available for replay June 13, 2013 at http://investors.hrblock.com.
About H&R Block
H&R Block, Inc. (NYSE: HRB) is the world's largest consumer tax services provider. More than 600 million tax returns have been prepared worldwide by and through H&R Block since 1955. In fiscal 2012, H&R Block had annual revenues of $2.9 billion with 25.6 million tax returns prepared worldwide. Tax return preparation services are provided in company-owned and franchise retail tax offices by approximately 90,000 professional tax preparers, and through H&R Block At Home™ digital products. H&R Block Bank provides affordable banking products and services. For more information, visit the H&R Block Online Press Center.
This press release may contain forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," "targets," "would," "will," "should," "could" or "may" or other similar expressions. Forward-looking statements provide management's current expectations or predictions of future conditions, events or results. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements. They may include estimates of revenues, income, earnings per share, capital expenditures, dividends, liquidity, capital structure or other financial items, descriptions of management's plans or objectives for future operations, products or services, or descriptions of assumptions underlying any of the above. All forward-looking statements speak only as of the date they are made and reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions, factors, or expectations, new information, data or methods, future events or other changes, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive and regulatory factors, many of which are beyond the Company's control and which are described in our Annual Report on Form 10-K for the fiscal year ended April 30, 2012 in the section entitled "Risk Factors," as well as additional factors we may describe from time to time in other filings with the Securities and Exchange Commission. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.
1 Unless otherwise noted, all comparisons, including those made to the "prior year," refer to the current period compared to the prior year period.
|U.S. Tax Operating Data|
|Fiscal Year to Date through 4/18/13||Fiscal Year to Date through 4/18/12||Percent
|Total returns prepared: (1)|
|H&R Block Company-owned operations||8,879||9,205||-3.5%|
|H&R Block Franchise operations||5,560||5,657||-1.7%|
|Total H&R Block assisted returns||14,439||14,862||-2.8%|
|H&R Block At Home Desktop||1,978||2,115||-6.5%|
|H&R Block At Home Online||4,857||4,400||10.4%|
|H&R Block Free File Alliance||769||856||-10.2%|
|Total H&R Block at Home||7,604||7,371||3.2%|
|Total H&R Block U.S. Returns||22,043||22,233||-0.9%|
|(1) Prior year numbers have been reclassified between company-owned and franchise operations for offices that were refranchised during either year.|
Source: H & R Block