H&R Block shares surged 18% after strong Q4 results, a 17% dividend increase, and a $1.5 billion buyback program.
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August 19, 2024
H&R Block shares surged 18% after the company reported better-than-expected Q4 results, announced a 17% dividend increase, and introduced a $1.5 billion share buyback program.
H&R Block said revenue for the three months to June 30 edged higher to $1.06 billion from $1.03 billion a year ago, while net profit fell to $257.8 million from $302.3 million.1 Both beat consensus analysts' estimates compiled by Visible Alpha.
After registering adjusted earnings per share (EPS) of $4.14 on revenue of $3.61 billion in the 2024 fiscal year, the company sees fiscal 2025 adjusted EPS of $5.15 to $5.35 on revenue between $3.69 billion and $3.75 billion.
LevelFields AI alerts went out in the early morning and the stock surged 20% thereafter. The company also provided strong fiscal 2025 guidance, anticipating higher revenue and adjusted EPS.
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