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H & R BLOCK H & R Block Reports Fiscal 2022 First Quarter Results ; Reiterates Fiscal Year Financial Outlook November 2 , 2021 KANSAS CITY , Mo. , Nov. 02 , 2021 ( GLOBE NEWSWIRE ) -- H & R Block , Inc. ( NYSE : HRB ) ( the " Company " ) today released its financial results ¹ 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 . • 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 ) 987-6821 or International ( 630 ) 652-5951