— Revenue Increased 11% — 

— Reaffirms Full Year Outlook —

KANSAS CITY, Mo., Feb. 03, 2026 (GLOBE NEWSWIRE) -- H&R Block, Inc. (NYSE: HRB) (the "Company") today released financial results¹ for its fiscal 2026 second quarter ended December 31, 2025.

"Across the business, we've made tangible improvements this season, whether receiving assistance from a tax professional or filing using our award-winning online tax product," said Curtis Campbell, president and chief executive officer. "We are elevating the value we deliver through expert‑led, technology‑enabled experiences that are increasingly supported by thoughtful AI integration. In a year of heightened uncertainty for many filers, our client‑first strategy and disciplined execution keep us focused on durable growth and long‑term value."

Fiscal 2026 Second Quarter Results and Key Financial Metrics

"We delivered double‑digit revenue growth in the quarter and reaffirmed our full‑year outlook, reflecting the strength of our year-to-date performance," said Tiffany Mason, chief financial officer. "The performance across Assisted, DIY, and Wave demonstrates solid execution, and our financial fundamentals and commitment to disciplined capital allocation position us to deliver meaningful long‑term value."

The Company reminds readers that its business is highly seasonal, and second quarter results consistently reflect this pattern. Historically, this period contributes modestly to annual revenue and typically generates a net loss.

For the second quarter, the Company delivered total revenue of $198.9 million, an increase of $19.8 million, or 11.1%, versus the prior year. The increase was primarily the result of higher volume and net average charge (NAC) in the assisted category, strong growth in Wave subscription revenue and payments volume, and increased DIY software sales.

Total operating expenses of $497.7 million increased by $25.4 million, or 5.4%, as expected, versus the prior year. The increase was primarily due to higher field wages as a result of higher assisted revenue and increased consulting costs.

Net loss from continuing operations improved by $0.9 million, or 0.4%, to ($241.6) million.

Loss per share from continuing operations² increased 6.7% to ($1.91), and adjusted loss per share from continuing operations² increased 6.4% to ($1.84), due to fewer shares outstanding as a result of share repurchases, partially offset by an improved net loss.

Capital Allocation

The Company reported the following related to its capital structure:

• Year to date, the Company has returned $507.7 million to shareholders in the form of dividends and share repurchases.
• The Company has approximately $700 million remaining on its $1.5 billion share repurchase program.

Fiscal Year 2026 Outlook Reaffirmed

The Company continues to expect:

• Revenue to be in the range of $3.875 to $3.895 billion.
• EBITDA³ to be in the range of $1.015 to $1.035 billion.
• Effective tax rate to be approximately 25%.
• Adjusted Diluted Earnings Per Share³ to be in the range of $4.85 to $5.00.

Conference Call

The Company will host a conference call for analysts and investors to discuss second quarter 2026 results at 4:30 p.m. ET on Tuesday, February 3, 2026. To join live, participants must register at https://register-conf.media-server.com/register/BI4f5e380c7eac4ff797fe8d672ac49bf4. Once registered, the participant will receive a dial-in number and unique PIN to access the call. Please join approximately 5 minutes prior to the scheduled start time.

The call, along with a presentation for viewing, will also be webcast in a listen-only format for the media and general public. The webcast can be accessed directly at https://edge.media-server.com/mmc/p/c4dfnsou/lan/en/ and will be available for replay 2 hours after the call is concluded and continuing for 90 days.

About H&R Block

H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation services, financial products, and small-business solutions. The company blends digital innovation with human expertise and care as it helps people get the best outcome at tax time and also be better with money using its mobile banking app, Spruce. Through Block Advisors and Wave, the company helps small-business owners thrive with year-round bookkeeping, payroll, advisory, and payment processing solutions. For more information, visit H&R Block News.

About Non-GAAP Financial Information

This press release and the accompanying tables include non-GAAP financial information. For a description of these non-GAAP financial measures, including the reasons management uses each measure, and reconciliations of these non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with generally accepted accounting principles, please see the section of the accompanying tables titled "Non-GAAP Financial Information."

Forward-Looking Statements

This press release contains 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," "commits," "seeks," "estimates," "projects," "forecasts," "targets," "would," "will," "should," "goal," "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, client trajectory, income, effective tax rate, earnings per share, cost savings, capital expenditures, dividends, share repurchases, liquidity, capital structure, market share, industry volumes 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. They may also include the expected impact of external events beyond the Company’s control, such as outbreaks of infectious disease, severe weather events, natural or manmade disasters, or changes in the regulatory environment in which we operate. 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, that are described in our Annual Report on Form 10-K for the most recently completed fiscal year in the section entitled "Risk Factors" and additional factors we may describe from time to time in other filings with the Securities and Exchange Commission. You may get such filings for free at our website at https://investors.hrblock.com. In addition, factors that may cause the Company’s actual estimated effective tax rate to differ from estimates include the Company’s actual results from operations compared to current estimates, future discrete items, changes in interpretations and assumptions the Company has made, future actions of the Company, or increases in applicable tax rates in jurisdictions where the Company operates. 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.

_{¹All amounts in this release are unaudited. Unless otherwise noted, all comparisons refer to the current period compared to the corresponding prior year period.
²All per share amounts are based on fully diluted shares at the end of the corresponding period. The Company reports non-GAAP financial measures of performance, including adjusted earnings per share (EPS), earnings before interest, tax, depreciation, and amortization (EBITDA) from continuing operations, free cash flow, and free cash flow yield, which it considers to be useful metrics for management and investors to evaluate and compare the ongoing operating performance of the Company. See "About Non-GAAP Financial Information" below for more information regarding financial measures not prepared in accordance with generally accepted accounting principles (GAAP).
³Adjusted Diluted Earnings Per Share (EPS) and earnings before interest, tax, depreciation, and amortization (EBITDA) from continuing operations are non-GAAP financial measures. Future period non-GAAP outlook includes adjustments for items not indicative of our core operations, which may include, without limitation, items described in the below section titled “Non-GAAP Financial Information” and in the accompanying tables. Such adjustments may be affected by changes in ongoing assumptions and judgments, as well as nonrecurring, unusual, or unanticipated charges, expenses or gains, or other items that may not directly correlate to the underlying performance of our business operations. The exact amounts of these adjustments are not currently determinable but may be significant. It is therefore not practicable to provide the comparable GAAP measures or reconcile this non-GAAP outlook to the most comparable GAAP measures.}

⁽¹⁾ All non-GAAP measures are results from continuing operations. See "Non-GAAP Financial Information" for a reconciliation of non-GAAP measures.

⁽¹⁾Tax effect of adjustments is the difference between the tax provision calculated on a GAAP basis and on an adjusted non-GAAP basis.

Non-GAAP Financial Information

Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. Because these measures are not measures of financial performance under GAAP and are susceptible to varying calculations, they may not be comparable to similarly titled measures for other companies.

We consider our non-GAAP financial measures to be performance measures and a useful metric for management and investors to evaluate and compare the ongoing operating performance of our business. We make adjustments for certain non-GAAP financial measures related to amortization of intangibles from acquisitions and goodwill impairments. We may consider whether other significant items that arise in the future should be excluded from our non-GAAP financial measures.

We measure the performance of our business using a variety of metrics, including earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations, adjusted EBITDA from continuing operations, adjusted diluted earnings per share from continuing operations, and free cash flow. We also use EBITDA from continuing operations and pretax income from continuing operations, each subject to permitted adjustments, as performance metrics in incentive compensation calculations for our employees.

Investor Relations:
Jessica Hazel, (816) 854-4214, jessica.hazel@hrblock.com
Media Relations:
Media Desk, mediadesk@hrblock.com