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

Date of Report (date of earliest event reported): November 7, 2023

(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 7, 2023, H&R Block, Inc. (the "Company") issued a press release regarding the Company’s results of operations for the fiscal quarter ended September 30, 2023. 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 7, 2023.
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 7, 2023By:/s/ Katharine M. Haynes
Katharine M. Haynes
Vice President and Secretary

Exhibit 99.1

News Release
For Immediate Release: November 7, 2023
H&R Block Reports Fiscal 2024 First Quarter Results; Full Year Outlook Reaffirmed
KANSAS CITY, Mo. - H&R Block, Inc. (NYSE: HRB) (the "Company") today released its financial results1 for the fiscal 2024 first quarter ended September 30, 2023.
First quarter revenue was $183.8 million, an increase of 2% to the prior year
The Company reaffirmed its previously announced outlook for fiscal year 2024
Repurchased $132.0 million of shares, retiring another 2% of shares outstanding during the first quarter
"We had a good start to the year and are reaffirming our outlook," said Jeff Jones, H&R Block's president and chief executive officer. "We continue to make progress across our Block Horizons imperatives, and we remain committed to delivering value to shareholders through our capital allocation. I am proud of the work that is being done and feel well-positioned to deliver results this fiscal year."
Fiscal 2024 First Quarter Results and Key Financial Metrics
"First quarter results met expectations and we repurchased another $132.0 million of shares outstanding," said Tony Bowen, H&R Block's chief financial officer. "Our financial position is strong as we head into the second quarter."
Total revenue of $183.8 million increased by $3.8 million, or 2%, to the prior year. The increase was primarily due to higher U.S. assisted tax preparation revenues driven by an increase in net average charge, partially offset by lower Emerald Card® revenues.
Total operating expenses of $390.1 million increased by $1.0 million, as a result of higher corporate wages and bad debt, partially offset by lower marketing and advertising and consulting expenses.
Pretax loss decreased by $9.0 million to $212.4 million, primarily due to higher revenues and interest income in the current year.
Loss per share from continuing operations2 increased from $(1.05) to $(1.11) and adjusted loss per share from continuing operations2 increased from $(0.99) to $(1.05), due to fewer shares outstanding.
Capital Allocation
The Company reported the following related to its capital structure:
Repurchased and retired 3.3 million shares at an aggregate price of $132.0 million, or $40.43 per share in Q1.
The Company has approximately $568.1 million remaining on its $1.25 billion share repurchase authorization available through fiscal year 2025.
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).

As previously announced, a quarterly cash dividend of $0.32 per share is payable on January 4, 2024 to shareholders of record as of December 5, 2023. H&R Block has paid quarterly dividends consecutively since the Company became public in 1962.
Since 2016, the Company has returned more than $3.5 billion to shareholders in the form of share repurchases and dividends, buying back over 38% of its shares outstanding3.
Fiscal Year 2024 Outlook Reaffirmed
The Company continues to expect:
Revenue to be in the range of $3.530 to $3.585 billion.
EBITDA4 to be in the range of $930 to $965 million.
Effective tax rate to be approximately 23%.
Adjusted Diluted Earnings Per Share4 to be in the range of $4.10 to $4.30.
Conference Call
A conference call for analysts, institutional investors, and shareholders will be held at 4:30 p.m. Eastern time on Tuesday, November 7, 2023. During the conference call the company will discuss fiscal 2024 first quarter results, outlook, and give a general business update. To join live, participants must register at 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 public. The webcast can be accessed directly at 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
3Shares outstanding calculated as of April 30, 2016.
4Adjusted EPS and 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.

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 (including the COVID-19 pandemic), 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 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:Heather Woodard, (660) 864-3836,


FINANCIAL RESULTS(unaudited, in 000s - except per share amounts)
Three months ended September 30,
U.S. tax preparation and related services:
Assisted tax preparation$39,263 $36,312 
Royalties5,701 6,228 
DIY tax preparation3,848 3,158 
Refund Transfers1,142 1,284 
Peace of Mind® Extended Service Plan24,847 24,770 
Tax Identity Shield®4,580 5,167 
Other10,980 9,360 
Total U.S. tax preparation and related services90,361 86,279 
Financial services:
Emerald Card® and SpruceSM
8,633 11,612 
Interest and fee income on Emerald AdvanceSM
298 614 
Total financial services8,931 12,226 
International60,565 58,834 
Wave23,943 22,646 
Total revenues$183,800 $179,985 
Compensation and benefits:
Field wages62,435 61,673 
Other wages72,098 63,753 
Benefits and other compensation35,248 34,832 
169,781 160,258 
Occupancy99,285 97,590 
Marketing and advertising5,481 10,649 
Depreciation and amortization30,225 33,624 
Bad debt4,798 329 
Other80,556 86,646 
Total operating expenses390,126 389,096 
Other income (expense), net9,836 3,611 
Interest expense on borrowings(15,870)(15,824)
Pretax loss(212,360)(221,324)
Income tax benefit(49,487)(53,957)
Net loss from continuing operations(162,873)(167,367)
Net loss from discontinued operations(609)(1,054)
Net loss$(163,482)$(168,421)
Continuing operations$(1.11)$(1.05)
Discontinued operations(0.01)(0.01)
Adjusted diluted EPS (1)
(1) All non-GAAP measures are results from 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, 2023June 30, 2023
Cash and cash equivalents$426,990 $986,975 
Cash and cash equivalents - restricted30,570 28,341 
Receivables, net60,330 59,987 
Income taxes receivable42,136 35,910 
Prepaid expenses and other current assets71,814 76,273 
Total current assets631,840 1,187,486 
Property and equipment, net131,667 130,015 
Operating lease right of use assets412,415 438,299 
Intangible assets, net267,512 277,043 
Goodwill770,820 775,453 
Deferred tax assets and income taxes receivable248,642 211,391 
Other noncurrent assets48,156 52,571 
Total assets$2,511,052 $3,072,258 
Accounts payable and accrued expenses$149,892 $159,901 
Accrued salaries, wages and payroll taxes51,986 95,154 
Accrued income taxes and reserves for uncertain tax positions205,919 271,800 
Operating lease liabilities195,685 205,391 
Deferred revenue and other current liabilities189,304 206,536 
Total current liabilities792,786 938,782 
Long-term debt1,489,514 1,488,974 
Deferred tax liabilities and reserves for uncertain tax positions265,621 264,567 
Operating lease liabilities224,365 240,543 
Deferred revenue and other noncurrent liabilities83,650 107,328 
Total liabilities2,855,936 3,040,194 
Common stock, no par, stated value $.01 per share1,757 1,789 
Additional paid-in capital740,434 770,376 
Accumulated other comprehensive loss(48,013)(37,099)
Retained deficit(393,621)(48,677)
Less treasury shares, at cost(645,441)(654,325)
Total stockholders' equity (deficiency)(344,884)32,064 
Total liabilities and stockholders' equity$2,511,052 $3,072,258

Three months ended September 30,20232022
Net loss$(163,482)$(168,421)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization30,225 33,624 
Provision for credit losses1,098 1,077 
Deferred taxes(37,757)16,918 
Stock-based compensation7,550 7,654 
Changes in assets and liabilities, net of acquisitions:
Receivables4,981 3,702 
Prepaid expenses, other current and noncurrent assets6,396 (2,669)
Accounts payable, accrued expenses, salaries, wages and payroll taxes(71,202)(129,908)
Deferred revenue, other current and noncurrent liabilities(42,657)(41,549)
Income tax receivables, accrued income taxes and income tax reserves(70,301)(41,659)
Other, net160 (435)
Net cash used in operating activities(334,989)(321,666)
Capital expenditures(12,916)(16,161)
Payments made for business acquisitions, net of cash acquired(6,919)(16,507)
Franchise loans funded(5,380)(6,686)
Payments from franchisees937 2,270 
Other, net388 (274)
Net cash used in investing activities(23,890)(37,358)
Dividends paid(42,953)(43,093)
Repurchase of common stock, including shares surrendered(150,442)(202,845)
Other, net(1,803)(955)
Net cash used in financing activities(195,198)(246,893)
Effects of exchange rate changes on cash(3,679)(13,422)
Net decrease in cash and cash equivalents, including restricted balances(557,756)(619,339)
Cash, cash equivalents and restricted cash, beginning of period1,015,316 1,050,713 
Cash, cash equivalents and restricted cash, end of period$457,560 $431,374 
Income taxes paid (received), net$58,337 $(29,811)
Interest paid on borrowings19,792 19,792 
Accrued additions to property and equipment3,316 4,704 
New operating right of use assets and related lease liabilities38,468 52,265 
Accrued dividends payable to common shareholders46,901 46,100 
Accrued purchase of common stock10,003 32,356
(in 000s)
Three months ended September 30,
Net loss - as reported$(163,482)$(168,421)
Discontinued operations, net609 1,054 
Net loss from continuing operations - as reported(162,873)(167,367)
Add back:
Income tax benefit(49,487)(53,957)
Interest expense15,870 15,824 
Depreciation and amortization30,225 33,624 
EBITDA from continuing operations$(166,265)$(171,876)
(in 000s, except per share amounts)
Three months ended September 30,
Net loss from continuing operations - as reported$(162,873)$(167,367)
Amortization of intangibles related to acquisitions (pretax)12,555 12,696 
Tax effect of adjustments (1)
Adjusted net loss from continuing operations$(153,254)$(157,892)
Diluted loss per share from continuing operations - as reported$(1.11)$(1.05)
Adjustments, net of tax0.06 0.06 
Adjusted diluted loss per share from continuing operations$(1.05)$(0.99)
(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, free cash flow, and free cash flow yield. 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.