H&R Block slips after missing 2Q forecasts
H&R Block on Monday reported fiscal second-quarter results that fell short of Wall Street expectations, sending its stock lower in after-market trading.
The Kansas City, Missouri, tax preparer reported a loss of $112 million, or 41 cents per share, compared with a loss of $104.9 million, or 39 cents a share, a year ago. Excluding one-time gains and costs, H&R Block said it lost 45 cents per share in the latest quarter.
The company's fiscal second quarter ended on Oct. 31. H&R Block often takes a loss in periods that aren't near the peak of tax season.
Revenue totaled $134.6 million compared with $134.3 million in last year's fiscal second quarter.
The results missed Wall Street expectations. According to Zacks Investment Research, analysts expected an adjusted loss of 42 cents per share and $145.2 million in revenue.
H&R Block shares dropped $2.02, or 6 percent, to $32.03 in aftermarket trading.
Before the release of the earnings report, H&R Block's shares fell 34 cents to close at $34.05, putting the stock up 17 percent since the beginning of the year. The Standard & Poor's 500 index has increased 11.5 percent in that time.
Elements of this story were generated by Automated Insights using data from Zacks Investment Research. HRB stock