H&R Block, Inc. (NYSE:HRB) Q3 2019 Earnings Conference Call - Final Transcript

Mar 07, 2019 • 08:30 am ET


H&R Block, Inc. (NYSE:HRB) Q3 2019 Earnings Conference Call - Final Transcript


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Good morning. My name is Michelle and I will be your conference operator today. At this time, I would like to welcome everyone to the H&R Block Third Quarter Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers remarks, there will be a question-and-answer session. (Operator Instructions)

I would now like to turn the call over to Mr. Colby Brown, Vice President, Finance and Investor Relations. Please go ahead.

Colby Brown

Thank you, Michelle. Good morning, everyone and thank you for joining us to discuss our fiscal 2019 third quarter results. On the call today are Jeff Jones, our President and CEO; and Tony Bowen, our CFO. We posted today's press release on the Investor Relations website at hrblock.com. Also on the website, you will find a link to the webcast continuing today's presentation, which will be posted after this call. Some of the figures that we'll discuss today are presented on a non-GAAP basis. We've reconciled the comparable GAAP and non-GAAP figures in the schedules attached to our press release. Before we begin our prepared remarks, I'll remind everyone that this call will include forward-looking statements as defined under the securities laws.

Such statements are based on current information and management's expectations as of this date and are not guarantees of future performance. Forward-looking statements involve certain risks, uncertainties and assumptions that are difficult to predict. As such, our actual outcomes and results could differ materially. You can learn more about these risks in our Form 10-K for fiscal 2018 and our other SEC filings. H&R Block undertakes no obligation to publicly update these risk factors or forward-looking statements. At the conclusion of our prepared remarks, we will have a Q&A session. During Q&A, we ask that participants limit themselves to one question with a follow-up after which they may choose to jump back into the queue.

With that, I'll now turn the call over to Jeff.

Jeffrey J. Jones

Thank you, Colby. Good morning, everyone and thanks for joining us. With the first half of the season behind us, we are pleased with our performance and continue to be excited about the strategic changes we're making. Feedback from our clients regarding the improvements to our services and products, including our new upfront transparent pricing has been fantastic. We're continuing to lead the industry in the virtual space with new offerings at an improved client experience. And while the season has gotten off to a slow start for the entire industry, we are seeing volumes pick up and are focused on executing for the second half.

Before I jump into the details, let me outline the areas we'll cover on today's call. First I'll provide our perspectives on what we've seen in the industry, then I will talk about our performance and expectations for the second half of the season. Finally, Tony will review our third quarter financial results and thoughts on our fiscal year outlook. Starting with what we've seen in the overall industry, the latest