-=Accenture (ACN) reported earnings on Thur 20 June 24 (b/o)

 

Accenture misses by $0.03, reports revs in-line; guides Q4 revs in-line; lowers FY24 EPS guidance; narrows FY24 revenue guidance 

• Reports Q3 (May) earnings of $3.13 per share, excluding non-recurring items, $0.03 worse than the FactSet Consensus of $3.16; revenues fell 0.6% year/year to $16.47 bln vs the $16.55 bln FactSet Consensus.
• Revenues by geographic market were as follows: North America: $7.83 billion, an increase of 1% in both U.S. dollars and local currency compared with the third quarter of fiscal 2023. EMEA: $5.78 billion, a decrease of 2% in both U.S. dollars and local currency compared with the third quarter of fiscal 2023. Growth Markets: $2.86 billion, a decrease of 4% in U.S. dollars and an increase of 8% in local currency compared with the third quarter of fiscal 2023.
• Co issues in-line guidance for Q4, sees Q4 revs of $16.05-16.65 bln vs. $16.53 bln FactSet Consensus.
• Co issues guidance for FY24, lowers EPS to $11.85-12.00 from $11.97-12.20, excluding non-recurring items, vs. $12.09 FactSet Consensus; narrows FY24 revs to 1.5-2.5% from +1-3% to $65.07-65.73 bln vs. $65.19 bln FactSet Consensus.
• Accenture continues to expect GAAP operating margin for fiscal 2024 to be 14.8%, an expansion of 110 basis points from fiscal 2023; and adjusted operating margin, which excludes an estimated $450 million for business optimization costs in fiscal 2024 and $1.1 billion in fiscal 2023, to be 15.5%, an expansion of 10 basis points from fiscal 2023.