Accenture Q3 2023 Earnings Report
Key Takeaways
Accenture's Q3 2023 revenues reached $16.6 billion, a 3% increase in U.S. dollars and 5% in local currency. The company reported GAAP EPS of $3.15, a 13% increase, and adjusted EPS of $3.19, a 14% increase. New bookings were $17.2 billion, and free cash flow was $3.15 billion.
Revenues are $16.6 billion, an increase of 3% in U.S. dollars and 5% in local currency.
GAAP operating margin is 14.2%, while adjusted operating margin is 16.3%, an expansion of 20 basis points.
GAAP EPS of $3.15, a 13% increase; adjusted EPS of $3.19, a 14% increase.
Free cash flow is $3.15 billion.
Accenture
Accenture
Forward Guidance
Accenture expects Q4 2023 revenues to be in the range of $15.75 billion to $16.35 billion, an increase of 2% to 6% in local currency. For fiscal year 2023, the company expects revenue growth of 8% to 9% in local currency, GAAP EPS of $10.94 to $11.05, adjusted EPS of $11.52 to $11.63, and free cash flow of $8.1 billion to $8.6 billion.
Positive Outlook
- Full-year revenue growth of 8% to 9% in local currency.
- GAAP operating margin of 14.2%.
- Adjusted operating margin of 15.4%.
- GAAP EPS of $10.94 to $11.05.
- Free cash flow of $8.1 billion to $8.6 billion.
Challenges Ahead
- Foreign-exchange impact of negative 4%.
- Business optimization costs of $800 million.
- Q4 revenue growth between 2% and 6% in local currency.
- Uncertainty in economic and political conditions.
- Fluctuations in foreign currency exchange rates.