H and R Block issued the following announcement.
Today, H&R Block, Inc. (NYSE: HRB) will introduce its Block Horizons strategy, the next phase of the company’s strategic transformation. This builds on previous work to strengthen the company’s foundation and will position it for long-term, sustainable growth.
At the virtual event, Chief Executive Officer Jeff Jones, Chief Financial Officer Tony Bowen, and other members of the senior leadership team will provide an in-depth look at the three strategic imperatives that comprise the company’s new long-term strategy.
These imperatives—Small Business, Financial Products, and Block Experience—will enable H&R Block to serve more customers, in more ways, by better leveraging existing assets. They build on the company’s current business and encompass a new approach to the customer experience.
“We’re excited to enter the next phase of our transformation, leveraging our unique combination of human expertise, physical locations, and digital platforms,” Jones said. “We are well-positioned to benefit from the capabilities we have created to help consumers on their terms.”
Jones continued: “Building on the deep trust of millions of customers, our Block Horizons strategy will help the company become a year-round business and improve revenue and earnings growth.”
Today’s event will include details on how Block will execute on its strategy during the upcoming tax season and beyond.
Block Horizons imperatives will guide the company to growth
Block Horizons includes three strategic imperatives grounded in customer insight, market testing, and a solid base of current business. They will guide the company’s path to achieving its financial and operational goals.
- Small Business: Building on an already-significant base of 2.4 million small business customers, the company will go to market with two small business brands: Wave and Block Advisors. Through this imperative, H&R Block seeks to further strengthen the spirit of entrepreneurship and enable small business owners to thrive, particularly as they lead the country’s growth post-pandemic.
- Financial Products: With approximately one-third of H&R Block’s 20 million tax customers being under-banked, the company will build on its Emerald Debit Card program, which today is linked to the tax event, to develop a year-round mobile banking platform. In addition, products like Wave Money will make spending and accounting for business transactions easier than ever by automatically bookkeeping business expenses and helping small business owners always be ready for tax time. These products aim to create financial confidence in consumers and small business owners.
- Block Experience: H&R Block is reimagining tax preparation for a digital-first world, blending technology and data with human expertise and care. This includes enabling clients to take advantage of all of Block’s capabilities, whether in-person, digital or a mix of both. MyBlock is the mobile hub that connects tax professionals and customers and becomes the platform to create deeper engagement.
- Annual revenue growth goal of 3-6% annually1
- EBITDA2 growing as fast or at a faster rate than revenue
- Redeployment of savings to the highest ROI opportunities
- Maintaining a strong balance sheet and access to liquidity to support growth investments
- Returning capital to shareholders through dividends and share repurchases
Webcast Information
H&R Block’s live webcast of the Investor Day event, along with accompanying slides, can be accessed from the company’s website at https://investors.hrblock.com/financial-information/events-calendar, beginning at 10:00 a.m. EST.
Original source can be found here.
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