Accenture (ACN) Q1 Revenue Tops Consensus, Offers Guidance

Accenture (NYSE: ACN) reported Q1 EPS of $2.78, may not compare to the analyst estimate of $2.35. Revenue for the quarter came in at $15 billion versus the consensus estimate of $12.56 billion.

GUIDANCE:

Accenture sees Q2 2022 revenue of $14.3-14.75 billion, versus the consensus of $12.5 billion.

Accenture sees FY2022 EPS of $10.32-$10.60, may not compare versus the consensus of $9.01.

• Accenture’s business outlook for the full 2022 fiscal year now assumes that the foreign-exchange impact on its results in U.S. dollars will be approximately negative 3% compared with fiscal 2021; the company previously expected a negative 0.5% foreign-exchange impact.
• For fiscal 2022, the company now expects revenue growth to be in the range of 19% to 22% in local currency, compared with 12% to 15% previously.
• Accenture continues to expect operating margin for the full fiscal year to be in the range of 15.2% to 15.4%, an expansion of 10 to 30 basis points from fiscal 2021.
• The company continues to expect its annual effective tax rate to be in the range of 23.0% to 25.0%.
• The company now expects GAAP diluted EPS to be in the range of $10.32 to $10.60, compared with $9.90 to $10.18 previously, an increase of 17% to 20% over adjusted FY21 diluted EPS of $8.80 — which exclude gains on an investment of $0.36 from FY21 GAAP diluted EPS of $9.16.
• For fiscal 2022, the company now expects operating cash flow to be in the range of $8.4 billion to $8.9 billion, compared with $8.2 billion to $8.7 billion previously; continues to expect property and equipment additions to be $700 million; and now expects free cash flow to be in the range of $7.7 billion to $8.2 billion, compared with $7.5 billion to $8.0 billion previously.
• The company continues to expect to return at least $6.3 billion in cash to shareholders through dividends and share repurchases.

For earnings history and earnings-related data on Accenture (ACN) click here.

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