Q4 2024 H & R Block Inc Earnings Call Transcript
Key Points
- H&R Block Inc (HRB) delivered another year of revenue growth, with a 4% increase to $3.6 billion.
- EBITDA grew faster than revenue, increasing by more than 5% to $963 million.
- Earnings per share from continuing operations increased by 16%, from $3.56 to $4.14.
- The company announced a 17% increase in its quarterly dividend and a new $1.5 billion share repurchase authorization.
- The DIY business continued its momentum with market share gains for the second consecutive year.
- Total operating expenses increased by 3% to $2.8 billion, primarily due to higher labor costs and bad debt expense.
- Interest expense rose by 8% to $79 million due to higher draws on the line of credit and the higher rate environment.
- Lower Emerald Card activity partially offset revenue gains.
- The company faces challenges in improving the client experience in the Assisted category, particularly with new clients.
- The effective tax rate increased slightly from 21% to 21.6%.
Thank you for standing by, and welcome to H&R Block's Fourth Quarter Fiscal Year 2024 earnings conference call. (Operator Instructions) I would now like to hand the call over to Makela Galena, Vice President, Investor Relations. Please go ahead.
Thank you, operator. Good afternoon, everyone, and welcome to H&R Blockâs fiscal year 2024 financial results conference call. Joining me today are Jeff Jones, our president and chief executive officer, and Tony Bowen, our chief financial officer.
Earlier today, we issued a press release and presentation, that can be downloaded or viewed live on our website at investors.hrblock.com. Our call is being broadcast and webcast live, and a replay of the webcast will be available for 90 days. Before we begin, Iâd like to remind listeners that comments made by management may include forward-looking statements within the meaning of federal securities laws. These statements involve material risks and uncertainties, and actual results could
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