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Accenture
🇮🇪 NYSE:ACN
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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.

Total Revenue
$16.2B
Previous year: $15.7B
+3.0%
EPS
$3.27
Previous year: $3.08
+6.2%
New bookings
$18.4B
Previous year: $16.2B
+13.6%
Operating margin
15.8%
Gross Profit
$5.45B
Previous year: $5.18B
+5.2%
Cash and Equivalents
$7.14B
Previous year: $5.9B
+21.0%
Free Cash Flow
$430M
Previous year: $397M
+8.3%
Total Assets
$51.5B
Previous year: $47.1B
+9.4%

Accenture

Accenture

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

Company Overview

Full financial data and analysis

View Accenture