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Nov 30, 2023
Accenture Q1 2024 Earnings Report
Accenture's Q1 2024 financial performance reflected revenue growth and strategic investments.
Key Takeaways
Accenture reported revenues of $16.2 billion, a 3% increase in U.S. dollars and 1% in local currency. The company's GAAP EPS was $3.10, a 1% increase, and adjusted EPS was $3.27, a 6% increase. New bookings reached $18.4 billion, a 14% increase in U.S. dollars and 12% in local currency.
Revenues increased by 3% to $16.2 billion, or 1% in local currency.
GAAP EPS increased by 1% to $3.10, while adjusted EPS increased by 6% to $3.27.
New bookings increased by 14% to $18.4 billion, or 12% in local currency.
The company confirmed its business outlook for fiscal year 2024, expecting revenue growth of 2% to 5% in local currency and GAAP EPS of $11.41 to $11.76.
Revenue by Geographic Location
Forward Guidance
Accenture expects Q2 2024 revenues to be in the range of $15.40 billion to $16.00 billion, or negative 2% to 2% in local currency. For fiscal year 2024, the company continues to expect revenue growth to be in the range of 2% to 5% in local currency and GAAP EPS to be in the range of $11.41 to $11.76.
Positive Outlook
- The company continues to expect revenue growth to be in the range of 2% to 5% in local currency.
- GAAP operating margin for fiscal 2024 is expected to be in the range of 14.8% to 15.0%.
- Adjusted operating margin is expected to be in the range of 15.5% to 15.7%.
- GAAP diluted EPS is expected to be in the range of $11.41 to $11.76.
- The company continues to expect operating cash flow to be in the range of $9.3 billion to $9.9 billion.
Challenges Ahead
- Accenture expects revenues for the second quarter of fiscal 2024 to be in the range of $15.40 billion to $16.00 billion, or negative 2% to 2% in local currency.
- The company's assumption of a negative 0.5% foreign-exchange impact compared with the second quarter of fiscal 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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