Accenture Issues FY24 Guidance

(RTTNews) - Accenture (ACN) said, for fiscal 2024, the company expects GAAP EPS to be in the range of $11.41 to $11.76, an increase of 6% to 9% over fiscal 2023. Adjusted EPS is projected to be in the range of $11.97 to $12.32, an increase of 3% to 6% over fiscal 2023. The company noted that the guidance excludes $0.56 for business optimization costs in fiscal 2024.

For fiscal 2024, the company expects revenue growth to be in the range of 2% to 5% in local currency. The company expects to return at least $7.7 billion in cash to shareholders through dividends and share repurchases.

Accenture expects revenues for the first quarter to be in the range of $15.85 billion to $16.45 billion, or a decline of 2% to an increase of 2% in local currency.

Fourth quarter bottom line came in at $1.37 billion, or $2.15 per share compared with $1.67 billion, or $2.60 per share, prior year. Excluding a $0.56 decrease for business optimization costs, adjusted EPS were $2.71, an increase of 4% from a year ago. Analysts on average had expected the company to earn $2.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Fourth quarter revenues were $16.0 billion, an increase of 4% in both U.S. dollars and local currency compared with the fourth quarter of fiscal 2022. Analysts expected revenue of $16.07 billion for the quarter. New bookings for the fourth quarter were $16.6 billion, a decrease of 10% in both U.S. dollars and local currency from the fourth quarter of fiscal 2023.

Shares of Accenture were down 4% in pre-market trade on Thursday.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.