Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): November 2, 2021

(Exact name of registrant as specified in charter)
(State or other jurisdiction of(Commission File Number)(I.R.S. Employer
incorporation or organization)Identification No.)

One H&R Block Way, Kansas City, MO 64105
(Address of Principal Executive Offices) (Zip Code)

(816) 854-3000
(Registrant's telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, without par valueHRBNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 2.02.    Results of Operations and Financial Condition.
On November 2, 2021, the Company issued a press release regarding the Company’s results of operations for the fiscal quarter ended September 30, 2021. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01.    Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number    Description
99.1    Press Release Issued November 2, 2021
104    Cover Page Interactive Data File (embedded within the Inline XBRL document)

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:November 2, 2021By:/s/ Scott W. Andreasen
Scott W. Andreasen
Vice President and Secretary

Exhibit 99.1

News Release
For Immediate Release: November 2, 2021
H&R Block Reports Fiscal 2022 First Quarter Results; Reiterates Fiscal Year Financial Outlook
KANSAS CITY, Mo. - H&R Block, Inc. (NYSE: HRB) (the "Company") today released its financial results1 for the fiscal 2022 first quarter ended September 30, 2021.
Q1 results demonstrated continued momentum across the business and the Company reiterates its previously given fiscal year 2022 outlook.
The year over year quarterly results are not comparable due to last year’s tax season being extended to July 15, 2020, causing revenue and earnings to occur in the prior year first quarter that did not repeat in the first quarter ending September 30, 2021, as this year's tax season was extended only to May 17, 2021.
The Company repurchased $166 million of shares, retiring approximately 4% of the shares outstanding during the fiscal quarter.
"Our first fiscal quarter reflects continued momentum in the businesses, our ongoing commitment to returning capital to shareholders, and progress on our Block Horizons imperatives," said Jeff Jones, H&R Block's president and CEO. "Looking forward, we are well positioned for the 2022 tax season and I am more confident than ever in our ability to execute against our next phase of strategic growth."
Fiscal 2022 First Quarter Results Key Financial Metrics
"We have made significant financial progress over the past several years, and our business continues to be strong," said Tony Bowen, H&R Block's chief financial officer. "We’re off to a great start to our fiscal year and were able to repurchase $166 million of shares during the quarter."
Year over year quarterly results are not comparable due to last year’s tax season being extended to July 15, 2020 causing revenue and earnings to occur in the prior year first quarter that did not repeat in the first quarter ending September 30, 2021, as this year's tax season was extended only to May 17, 2021. Revenue recorded in last year's fiscal Q1 related to the extended tax season is estimated to be $246 million.
Total revenue of $193 million decreased by $225 million, or 54%, to the prior year. The decrease in revenue is entirely due to lower return volume because of the previous year's tax season extension. This was partially offset by Emerald Card revenue and strong growth from Wave.
Total operating expenses of $367 million decreased by $51 million, or 12%, primarily driven by lower tax pro compensation on lighter return volumes as the quarter took place after the 2021 filing deadline.
Pretax loss increased by $164 million to $197 million, entirely due to the decrease in revenue because of the previous year's tax season extension.
1    All amounts in this release are unaudited. Unless otherwise noted, all comparisons refer to the current period compared to the corresponding prior year period.

Loss per share from continuing operations2 increased from $0.32 to $0.84; adjusted loss per share from continuing operations increased from $0.24 to $0.78.
Capital Structure
The Company also reported the following related to its capital structure:
Fiscal year first quarter repurchases and retirements of common stock totaled approximately 6.8 million shares at an aggregate price of $166 million, or $24.37 per share. The Company has approximately $400 million remaining on its authorization which runs through June 2022.
As previously announced, a quarterly cash dividend of $0.27 per share was paid on October 1, 2021 to shareholders of record as of September 10, 2021. H&R Block has paid quarterly dividends consecutively since the Company became public in 1962.
Discontinued Operations
For information on Sand Canyon, please refer to disclosures in the Company’s reports on Forms 10-K, 10-Q, and other filings with the SEC.
Conference Call
Discussion of the fiscal 2022 first quarter results, outlook, and a general business update will occur during the Company’s previously announced fiscal first quarter earnings conference call for analysts, institutional investors, and shareholders. The call is scheduled for 4:30 p.m. Eastern time on November 2, 2021. To access the call, please dial the number below approximately 5 minutes prior to the scheduled starting time:
U.S./Canada (866) 987-6821or International (630) 652-5951
Conference ID: 5163538
The call, along with a presentation for viewing, will also be webcast in a listen-only format for the media and public. The webcast can be accessed directly, and the presentation will be posted following the conclusion of the call.
A replay of the call will be available beginning at 7:30 p.m. Eastern time on November 2, 2021 and continuing for seven days by dialing (855) 859-2056 (U.S./Canada) or (404) 537-3406 (International). The conference ID is 5163538. The webcast will be available for replay beginning on November 3, 2021 and continuing for 90 days at
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, financial products, and small business solutions. The Company blends digital innovation with the human expertise and care of its associates and franchisees as it helps people get the best outcome at tax time, and better manage and access their money year-round. Through Block Advisors and Wave, the Company helps small business owners thrive with innovative products like Wave Money, a small business banking and bookkeeping solution, and the only business bank account to manage bookkeeping automatically. For more information, visit H&R Block News or follow @HRBlockNews on Twitter.
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
2 All 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, and free cash flow, 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).

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 also include the expected impact of the coronavirus (COVID-19) pandemic, including, without limitation, the impact on economic and financial markets, the Company’s capital resources and financial condition, the expected use of proceeds under the Company’s revolving credit facility, future expenditures, potential regulatory actions, such as extensions of tax filing deadlines or other related relief, changes in consumer behaviors and modifications to the Company’s operations related thereto. 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 fiscal year ended April 30, 2021 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 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.
For Further Information
Investor Relations:    Michaella Gallina, (816) 854-3022,
Jordyn Eskijian, (816) 854-5674,
Media Relations:    Angela Davied, (816) 854-5798,


FINANCIAL RESULTS(unaudited, in 000s - except per share amounts)
Three months ended September 30,
U.S. assisted tax preparation$33,607 $207,167 
U.S. royalties7,358 22,652 
U.S. DIY tax preparation4,061 47,463 
International58,325 58,776 
Refund Transfers1,665 6,113 
Emerald Card®28,258 12,436 
Peace of Mind® Extended Service Plan24,836 27,192 
Tax Identity Shield®5,153 8,994 
Interest and fee income on Emerald AdvanceSM
479 526 
Wave19,137 13,737 
Other9,745 12,290 
Total revenues192,624 417,346 
Compensation and benefits:
Field wages56,079 92,545 
Other wages58,064 63,068 
Benefits and other compensation25,450 33,805 
139,593 189,418 
Occupancy95,822 96,850 
Marketing and advertising10,073 15,492 
Depreciation and amortization35,715 38,237 
Bad debt1,043 520 
Other85,150 77,582 
Total operating expenses367,396 418,099 
Other income (expense), net284 2,504 
Interest expense on borrowings(22,830)(34,697)
Pretax loss(197,318)(32,946)
Income taxes (benefit)(47,373)27,964 
Net loss from continuing operations(149,945)(60,910)
Net loss from discontinued operations(1,656)(1,346)
Net loss$(151,601)$(62,256)
Continuing operations$(0.84)$(0.32)
Discontinued operations(0.01)— 
Adjusted diluted EPS (1)
(1) All non-GAAP measures are results form continuing operations. See "Non-GAAP Financial Information" for a reconciliation of non-GAAP measures.

CONSOLIDATED BALANCE SHEETS(unaudited, in 000s - except per share data)
As ofSeptember 30, 2021June 30, 2021
Cash and cash equivalents$891,739 $1,434,381 
Cash and cash equivalents - restricted139,067 149,783 
Receivables, net56,829 88,932 
Income taxes receivable338,399 330,872 
Prepaid expenses and other current assets69,714 76,414 
Total current assets1,495,748 2,080,382 
Property and equipment, net141,006 139,276 
Operating lease right of use assets410,724 445,847 
Intangible assets, net337,451 351,093 
Goodwill749,409 754,521 
Deferred tax assets and income taxes receivable178,946 181,996 
Other noncurrent assets54,743 61,273 
Total assets$3,368,027 $4,014,388 
Accounts payable and accrued expenses$156,605 $164,269 
Accrued salaries, wages and payroll taxes54,816 168,989 
Accrued income taxes and reserves for uncertain tax positions155,137 238,863 
Operating lease liabilities201,179 214,190 
Deferred revenue and other current liabilities185,232 196,175 
Total current liabilities752,969 982,486 
Long-term debt1,984,512 1,983,719 
Deferred tax liabilities and reserves for uncertain tax positions303,476 301,658 
Operating lease liabilities221,184 244,932 
Deferred revenue and other noncurrent liabilities90,358 113,535 
Total liabilities3,352,499 3,626,330 
Common stock, no par, stated value $.01 per share2,099 2,167 
Additional paid-in capital770,683 779,465 
Accumulated other comprehensive income (loss)(11,089)88 
Retained earnings (deficit)(74,757)286,694 
Less treasury shares, at cost(671,408)(680,356)
Total stockholders' equity15,528 388,058 
Total liabilities and stockholders' equity$3,368,027 $4,014,388

Three months ended September 30,20212020
Net loss$(151,601)$(62,256)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization35,715 38,237 
Provision1,850 — 
Deferred taxes(13,547)(480)
Stock-based compensation6,847 7,781 
Changes in assets and liabilities, net of acquisitions:
Receivables35,913 29,016 
Prepaid expenses, other current and noncurrent assets8,610 1,673 
Accounts payable, accrued expenses, salaries, wages and payroll taxes(134,215)(37,546)
Deferred revenue, other current and noncurrent liabilities(27,990)(20,783)
Income tax receivables, accrued income taxes and income tax reserves(72,768)(52,698)
Other, net(1,438)(1,541)
Net cash used in operating activities(312,624)(98,597)
Capital expenditures(15,620)(13,386)
Payments made for business acquisitions, net of cash acquired(4,265)(2,538)
Franchise loans funded(4,474)(7,913)
Payments from franchisees2,839 10,744 
Other, net2,067 1,100 
Net cash used in investing activities(19,453)(11,993)
Repayments of line of credit borrowings (2,000,000)
Repayments of long-term debt (650,000)
Proceeds from issuance of long-term debt 647,965 
Dividends paid(48,996)(50,044)
Repurchase of common stock, including shares surrendered(165,800)(76,731)
Proceeds from exercise of stock options3,385 1,134 
Other, net(5,911)(19,131)
Net cash used in financing activities(217,322)(2,146,807)
Effects of exchange rate changes on cash(3,959)2,975 
Net decrease in cash and cash equivalents, including restricted balances(553,358)(2,254,422)
Cash, cash equivalents and restricted cash, beginning of period1,584,164 2,769,947 
Cash, cash equivalents and restricted cash, end of period$1,030,806 $515,525 
Income taxes paid, net of refunds received$38,419 $79,343 
Interest paid on borrowings12,594 34,726 
Accrued purchase of common stock4,785 12,323 
Accrued additions to property and equipment6,273 1,816 
New operating right of use assets and related lease liabilities29,371 21,590 
Accrued dividends payable to common shareholders47,940 50,154

U.S. Operating Statistics
Three months ended September 30
Change% Change
Tax Returns Prepared: (in 000s) (2)
Company-owned operations140 858 (718)(83.7)%
Franchise operations75 335 (260)(77.6)%
   Total Assisted215 1,193 (978)(82.0)%
Desktop17 326 (309)(94.8)%
Online53 701 (648)(92.4)%
Total DIY70 1,027 (957)(93.2)%
Total U.S. Returns285 2,220 (1,935)(87.2)%
Net Average Charge: (3)
Company-owned operations$239.31 $241.41 $(2.10)(0.9)%
Franchise operations (4)
$244.23 $227.42 $16.81 7.4 %
DIY$43.22 $46.21 $(2.99)(6.5)%
(1)     Represents a partial 2019 individual tax filing season, which was extended until July 15, 2020.
(2)     An assisted tax return is defined as a current or prior year individual or business tax return that has been accepted by the client. A DIY online return is defined as a current year individual or business tax return that has been accepted by the client. A DIY desktop return is defined as a current year individual or business tax return that has been electronically submitted to the IRS.
(3)     Net average charge is calculated as total tax preparation fees divided by tax returns prepared.
(4)    Net average charge related to H&R Block Franchise operations represents tax preparation fees collected by H&R Block franchisees divided by returns prepared in franchise offices. H&R Block will recognize a portion of franchise revenues as franchise royalties based on the terms of franchise agreements.
(in 000s)
Three months ended September 30,
Net loss - as reported$(151,601)$(62,256)
Discontinued operations, net1,656 1,346 
Net loss from continuing operations - as reported(149,945)(60,910)
Add back:
Income taxes (benefit)(47,373)27,964 
Interest expense22,830 34,697 
Depreciation and amortization35,715 38,237 
11,172 100,898 
EBITDA from continuing operations$(138,773)$39,988 
(in 000s, except per share amounts)
Three months ended September 30,
Net loss from continuing operations - as reported$(149,945)$(60,910)
Amortization of intangibles related to acquisitions (pretax)14,870 17,638 
Tax effect of adjustments (1)
Adjusted net loss from continuing operations$(138,710)$(45,126)
Diluted loss per share from continuing operations - as reported$(0.84)$(0.32)
Adjustments, net of tax0.06 0.08 
Adjusted diluted loss per share from continuing operations$(0.78)$(0.24)
(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 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, EBITDA margin 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 of continuing

operations, each subject to permitted adjustments, as performance metrics in incentive compensation calculations for our employees.