H&R Block Indicates Next Tax Season Will Be Different From The Last - But Isn't Sharing How

H & R Block Inc HRB reported its Q1 results after Tuesday's market close, with results barely shy of in-line to expectations. In general terms, analysts characterized the quarter as “uneventful.”

Related Link: H&R Block Q1 Report Leaves Investors With Few Questions Answered<//bzrelatedlink>

Next Tax Season To Bring Changes

Moreover, management said the results were on par with what they expected. This led Oppenheimer analysts to revise their fiscal 2017 opex estimates higher — opex already missed expectations in the first quarter. Consequently, the experts had to temper their fiscal 2017 and fiscal 2018 EPS estimates to reflect the new opex projections.

Although H&R Block’s management team did not share any guidance, it did indicate that the ongoing tax season “will differ significantly from last year's disappointment.” However, the team didn’t say how this would be pulled off, citing competitive reasons. Investors and analysts will probably have to wait until the tax season is here to find out, Oppenheimer’s report added.

Related Link: H&R Block's Q1 Is A Reminder Of Operational Struggles

Oppenheimer maintains a Perform rating on shares of H&R Block, anticipating that the stock will remain in a range “pending demonstration of results this upcoming FY17 tax season.”

Full ratings data available on Benzinga Pro.

Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.