H&R Block (HRB) is a U.S. tax preparation company with operations both in the United States itself and in several other countries. Set up in 1955, the company has delivered over 720 million tax returns to its customers since its foundation. In 2017, it prepared one in every seven U.S. tax returns.
As well as offering the services of some 70,000 tax professionals, H&R Block provides a range of online tax programs and software, from basic to deluxe and premium. It also offers some financial products and services to its clients.
Until 2015 the company’s operations were divided into three business units: Retail tax services, Digital tax services, and H&R Block Bank, which provided low-cost services to its low- to moderate-income customers. But in September 2015, H&R Block Bank was sold to BofI Holding Inc.
As of April 2018, H&R Block had a market capitalisation of around $5.30 billion.
Jeffrey J. Jones has been President and Chief Executive Officer of H&R Block since October 2017. He was previously Uber’s first President. Other key figures at the company include Kip Knight (Senior Vice President, U.S. Franchise & International) and Tony Bowen (Chief Financial Officer). Co-founder Henry Bloch is Honorary Chairman of the Board.
The business was founded in 1955 by brothers Henry W. Bloch and Richard Bloch, and went public in 1962. A high-profile television advertising campaign in the early 1970s helped the company to become one of the most widely recognised brands in the United States. By 1986 it was handling over 10 million tax returns a year. In the 1990s H&R Block expanded into financial services such as banking and mortgages, and for a while a unit of the company operated as a full-service securities broker-dealer.
In its financial results for the fiscal year ended April 30, 2017, H&R Block reported a 10% improvement in net income from continuing operations to $421 million and an increase in earnings per share from continuing operations of $0.43 to $1.96. The company said the improvement was largely due to its cost reduction efforts, which also made possible some investment in key client-driving initiatives.
The H&R Block share pricehas seen movement both ways over the past decade, rising from just $11 in October 2010 to an all-time high of $37 in October 2015, before almost halving to $19.70 in May 2016. In April 2018 the H&R Block share pricestood at around $25. To find out how the shares are doing right now, follow Capital.com. Our HRB chartputs all the information at your fingertips.
The company’s head office is located in Kansas City, the USA. H&R Blockhas around 12,000 company-owned and franchise retail locations, with operations right across the United States and in Canada, Australia and India. H&R Block International also has offices in the U.K., Germany, Guam, Italy, Japan, Panama and South Korea.
The company’s shares are quoted on the New York Stock Exchange (NYSE) and are a constituent of the S&P 500 index. Check out Capital.com for the latest HRB chart. We’ll keep you up to date and in the picture.
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