H&R Block, Inc. (NYSE:HRB) Q2 2020 Earnings Conference Call - Final Transcript

Dec 04, 2019 • 04:30 pm ET


H&R Block, Inc. (NYSE:HRB) Q2 2020 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Ladies and gentlemen, thank you for standing by, and welcome to the H&R Block Second Quarter Earnings Call. [Operator Instructions] After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions].

I would now like to hand the conference over to your host, Colby Brown, Vice President, Finance and Investor Relations. Sir, please go ahead.

Colby Brown

Thank you, Latif. Good afternoon, everyone, and thank you for joining us to discuss our fiscal 2020 second quarter results. On the call today are Jeff Jones, our President and CEO; and Tony Bowen, our CFO.

We've 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 containing 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 2019 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'll 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 II

Thank you, Colby. Good afternoon, everyone, and thanks for joining us. We have a lot of exciting update to cover on today's call. I'll start by recapping our progress against the strategic framework we introduced you last year. Then I'll talk about our plans for fiscal '20 in both tax and small business. This will include details about the significant progress we have made to digitally enable all facets of H&R Block. This work is essential to our success in both fiscal '20 and the long-term as we launch innovative new products, modernize how we deliver expertise in care, and ensure the best trained tax professionals in the industry can help clients in better and easier ways. Finally, Tony will discuss a non-GAAP financial reporting change, second quarter results including share repurchases and dividends, and our fiscal '20 outlook.

Fiscal '19 represented the first steps to modernize H&R Block and to position ourselves to deliver sustainable growth. We made improvements to our business and excellent progress against our enterprise growth strategy. We brought transparency to pricing in all our channels and we lowered prices for millions of consumers. We leveraged AI and machine learning to make the DIY experience