H&R Block Stock News

Shares of tax prep companies H&R Block (HRB) and Intuit (INTU) dropped Tuesday following a Washington Post report the incoming Trump administration is considering creating a mobile app for users to file their taxes for free.

The stock prices for H&R Block and Intuit fell after a Tuesday report saying the Trump transition team is considering creating a free tax-filing app. Intuit, which makes the TurboTax tax-filing software, was down 5%, putting it on pace for its worst day since Aug. 23 while H&R Block was down 8% and on pace for its worst day since 2020.

H&R Block's online software makes it difficult for customers to downgrade from a paid tier to its free service. But that will soon be a thing of the past.

H&R Block will pay $7 million and change some of its practices under a proposed settlement that would resolve a Federal Trade Commission (FTC) lawsuit alleging that the company made deceptive claims about “free” tax filing.

H&R Block shares dropped 6.5% after an uneventful Q1, presenting a buying opportunity ahead of Q4 repurchases and FY25 tax season. After spending $210 million to purchase 2.4% of the float in Q1, management could be more aggressive over the next few weeks to take advantage of the lower share price. The Trump election and the FTC settlement are both small positives for the company in my opinion.

H&R Block, Inc. (NYSE:HRB ) Q1 2025 Earnings Conference Call November 7, 2024 4:30 PM ET Company Participants Michaella Gallina - Vice President, Investor Relations Jeff Jones - President and Chief Executive Officer Tiffany Mason - Chief Financial Officer Conference Call Participants Kartik Mehta - Northcoast Research Scott Schneeberger - Oppenheimer & Co. George Tong - Goldman Sachs Alex Paris...

— Revenue Increased 5% — — Repurchased $210 Million of Shares — — Reaffirms Full Year Outlook — KANSAS CITY, Mo., Nov. 07, 2024 (GLOBE NEWSWIRE) -- H&R Block, Inc. (NYSE: HRB) (the "Company") today released financial results1 for its fiscal 2025 first quarter ended September 30, 2024.

KANSAS CITY, Mo., Nov. 06, 2024 (GLOBE NEWSWIRE) -- H&R Block, Inc. (NYSE: HRB) (the “Company”) today announced that its Board of Directors declared a quarterly cash dividend of $0.375 cents per share, payable January 6, 2025, to shareholders of record as of December 5, 2024. H&R Block has paid quarterly dividends consecutively for over sixty years since the Company became public in 1962.