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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.
Accenture
Accenture
Accenture Revenue by Segment
Accenture Revenue by Geographic Location
Revenue by Segment
Consulting Revenue
CapyFin.comManaged Services Revenue
CapyFin.comRevenue by Geographic Location
EMEA Revenue
CapyFin.com 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.
- Volatile, negative or uncertain economic and political conditions
- A significant reduction in client demand or an inability to respond to the evolving technological environment
- Inability to match people and their skills with client demand around the world and attract and retain professionals with strong leadership skills
Revenue & Expenses
Visualization of income flow from segment revenue to net income