H&R Block Inc

H&R Block delivered a better-than-expected fiscal first quarter for 2026, posting an adjusted loss per share of $1.20 against a consensus estimate of $1.35, a beat of 11.28%, while revenue of $203.55 million edged ahead of the $200.13 million estimate and grew 5.0% year over year. The company's characteristic seasonal loss pattern improved meaningfully, with the net loss from continuing operations narrowing to $165.37 million from $171.42 million a year prior, helped by a 2.7% decline in total operating expenses driven largely by lower legal fees and settlements. Revenue gains were fueled by higher net average charge in Assisted tax preparation and strong growth in Wave subscription and payments volume. Capital returns remained aggressive, with H&R Block repurchasing 7.9 million shares for $400.00 million during the quarter, contributing to a cumulative $5.00 billion returned to shareholders since 2016. Management reaffirmed its full-year outlook, targeting revenue of $3.88 billion to $3.90 billion and adjusted diluted EPS of $4.85 to $5.00, signaling confidence heading into the core tax season.