H&R Block (HRB) shares were gently lower after hours Wednesday after the tax-services provider reported a fiscal first-quarter loss in line with analysts’ estimates.
For the quarter ended July 31, the Kansas City, Mo., company posted a loss of 74 cents a share, flat with a year earlier. The loss from continuing operations was 72 cents in both periods. Shares outstanding fell 2.7% to 202 million.
Revenue was $150 million, up 3.6% from $145 million.
Analysts surveyed by FactSet were looking for a loss of 75 cents a share on revenue of $151.4 million.
H&R Block noted that a first-quarter loss is routine since the company’s business is seasonal. The fiscal first quarter represents less than 5% of annual revenue and less than 15% of annual expenses, the company said.
The tax preparer is “on track to achieve our revenue and margin outlook for the fiscal year,” Chief Financial Officer Tony Bowen said in a statement.
The stock was trading off 1.5% at $26.48 Wednesday.