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Nov 30, 2022
Accenture Q1 2023 Earnings Report
Accenture reported strong first-quarter fiscal 2023 results with revenue increase and EPS growth.
Key Takeaways
Accenture's Q1 2023 revenues reached $15.7 billion, a 5% increase in U.S. dollars and 15% in local currency. EPS grew by 11% to $3.08, and operating income rose by 7% to $2.59 billion.
Revenues are $15.7 billion, an increase of 5% in U.S. dollars and 15% in local currency.
Operating margin expands 20 basis points to 16.5%, with operating income increasing 7% to $2.59 billion.
EPS are $3.08, an 11% increase from $2.78 for the first quarter of fiscal 2022.
New bookings are $16.2 billion across consulting and managed services with both at $8.1 billion.
Forward Guidance
Accenture expects Q2 2023 revenues to be in the range of $15.20 billion to $15.75 billion, an increase of 6% to 10% in local currency. For fiscal year 2023, the company expects revenue growth to be in the range of 8% to 11% in local currency and EPS to be in the range of $11.20 to $11.52.
Positive Outlook
- Revenue growth of 6% to 10% in local currency for Q2 2023.
- Expected revenue growth of 8% to 11% in local currency for fiscal year 2023.
- Diluted EPS expected to be in the range of $11.20 to $11.52 for fiscal year 2023.
- Operating margin for the full 2023 fiscal year to be in the range of 15.3% to 15.5%.
- Company continues to expect operating cash flow to be in the range of $8.5 billion to $9.0 billion.
Challenges Ahead
- Foreign-exchange impact of approximately negative 5% compared with the second quarter of fiscal 2022.
- Assumes an approximately negative 5% foreign-exchange impact on its results in U.S. dollars for fiscal year 2023.
- Uncertain economic and political conditions may affect results of operations.
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