H&R Block, Inc. (NYSE:HRB) Q3 2024 Earnings Conference Call May 9, 2024 4:30 PM ET

Company Participants

Michaella Gallina - Vice President of Investor Relations
Jeff Jones - President & Chief Executive Officer
Tony Bowen - Chief Financial Officer

Conference Call Participants

Kartik Mehta - Northcoast Research
George Tong - Goldman Sachs
Scott Schneeberger - Oppenheimer & Company
Alex Paris - Barrington Research

Operator

Thank you for standing by and welcome to H&R Block's Third Quarter Fiscal Year 2024 Earnings Conference Call. [Operator Instructions]

I would now like to hand the call over to Michaella Gallina, Vice President, Investor Relations. Please go ahead.

Michaella Gallina

Thank you, Latif. Good afternoon, everyone, everyone and welcome to H&R Block's third quarter fiscal year 2024 financial results conference call. Joining me today are Jeff Jones, our President and Chief Executive Officer; and Tony Bowen, our Chief Financial Officer. Earlier today, we issued a press release and presentation which can be downloaded or viewed live on our website at investors.hrblock.com. Our call is being broadcast and webcast live and a replay of the webcast will be available for 90 days.

Before we begin, I'd like to remind listeners that comments made by management may include forward-looking statements within the meaning of federal securities laws. These statements involve material risks and uncertainties and actual results could differ from those projected in any forward-looking statement due to numerous factors. For a description of these risks and uncertainties, please see H&R Block's annual report on Form 10-K and quarterly reports on Form 10-Q as updated periodically with our other SEC filings. Please note some metrics we'll discuss today are presented on a non-GAAP basis. We reconciled the comparable GAAP and non-GAAP figures in the appendix of the presentation.

Finally, the content of this call contains time-sensitive information accurate only as of today, May 9, 2024. We H&R Block undertakes no obligation to revise or otherwise update any statements to reflect events or circumstances after the date of this call.

With that, I will now turn it over to Jeff.

Jeff Jones

Thank you, Michaella. Good afternoon, everyone and thanks for joining us. I will begin by providing commentary on the third quarter detail on our tax season performance and discuss our Block Horizons progress. Then Tony will share more on our financials and we'll open it up for Q&A.

Beginning with Q3 results ending March 31, revenue grew 4%, EBITDA grew 6% and EPS grew 18%. In the quarter, performance was driven by improvements in net average charge or NAC in both assisted and DIY. DIY volume growth and ongoing disciplined expense management, based on how we ended tax season and our third quarter performance, we now expect to finish the year near the high end of our outlook. Tony will share more thoughts on outlook in a moment.