Accenture Reports First-Quarter Fiscal 2024 Results
- Revenues increased by 3% in U.S. dollars and 1% in local currency, showing positive growth.
- New bookings increased by 14% in U.S. dollars and 12% in local currency, indicating strong demand for the company's services.
- Quarterly cash dividend increased by 15%, demonstrating the company's commitment to returning value to shareholders.
- None.
Insights
The reported financial results of Accenture show a modest revenue increase of 3% in U.S. dollars, indicating a stable yet slow growth trajectory in a challenging economic environment. The slight decline in GAAP operating margin from 16.5% to 15.8% suggests some pressure on profitability, potentially from increased costs or investments in growth areas such as Gen AI, which is highlighted by the $450 million in new bookings.
The increase in the quarterly cash dividend by 15% reflects a strong cash position and a commitment to shareholder returns, which is often seen as a positive signal to the market. However, the lowered operating cash flow compared to the previous year could be a point of concern for long-term liquidity management.
Investors should note the 14% increase in new bookings, which may indicate robust demand for Accenture's services going forward. This could be a sign of resilience in Accenture's business model despite economic uncertainties.
Accenture's performance in different geographic markets and industry groups provides insights into global economic trends. The 9% increase in EMEA revenues, for example, suggests a stronger performance in this region, which could be due to various factors such as market-specific strategies or economic conditions. On the other hand, the flat performance in North America might raise questions about market saturation or competitive dynamics.
Industry-specific results, such as the 13% increase in Health & Public Service, could indicate that Accenture is effectively capitalizing on the digital transformation needs within this sector. The decrease in Communications, Media & Technology by 10% is notable and may reflect sector-specific challenges or shifts in client spending.
Accenture's emphasis on Gen AI and the associated new bookings highlight the company's strategic focus on cutting-edge technology, positioning itself as a leader in AI-driven business solutions. This focus on innovation is critical for maintaining competitive advantage in the rapidly evolving technology services industry.
The mixed performance in consulting and managed services, with consulting remaining flat and managed services growing, suggests a shift in client preferences towards outsourcing and operational efficiency. This could be reflective of broader industry trends where businesses are looking to streamline operations and focus on core competencies.
-
Revenues of
$16.2 billion 3% inU.S. dollars and1% in local currency -
GAAP operating margin of
15.8% , compared to16.5% in the first quarter of fiscal 2023; adjusted1 operating margin of16.7% , an expansion of 20 basis points -
GAAP EPS of
$3.10 1% over the first quarter of fiscal 2023; adjusted EPS of$3.27 6% -
New bookings of
$18.4 billion 14% inU.S. dollars and12% in local currency -
Quarterly cash dividend of
$1.29 15% -
Accenture confirms business outlook for fiscal 2024; continues to expect revenue growth of
2% to5% in local currency; GAAP EPS of$11.41 $11.76 6% to9% increase; and adjusted EPS of$11.97 $12.32 3% to6% increase
Q1 FY24 Earnings Infographic (Graphic: Business Wire)
Julie Sweet, chair and CEO, Accenture, said, “I am pleased that we delivered on our commitments this quarter while strategically investing at scale for future growth. Our deep and trusted client relationships are again reflected in the 30 clients with quarterly bookings of more than
Revenues were
GAAP operating income was
GAAP diluted earnings per share were
New bookings for the quarter were
1Adjusted financial measures presented in this release are non-GAAP financial measures that exclude business optimization costs, as further described in this release. |
Financial Review
Revenues for the first quarter of fiscal 2024 were
Revenues for the quarter reflect a foreign-exchange impact of approximately positive
-
Consulting revenues for the quarter were
$8.46 billion U.S. dollars and a decrease of2% in local currency compared with the first quarter of fiscal 2023. -
Managed Services revenues for the quarter were
$7.77 billion 6% inU.S. dollars and5% in local currency compared with the first quarter of fiscal 2023.
GAAP diluted EPS for the quarter were
-
a
$0.14 -
a
$0.05 -
a
$0.01
partially offset by
-
a
$0.01
Gross margin (gross profit as a percentage of revenues) for the quarter was
GAAP operating income for the quarter decreased
The company’s GAAP effective tax rate for the quarter was
GAAP net income for the quarter was
Operating cash flow for the quarter was
Days services outstanding, or DSOs, were 49 days at November 30, 2023, compared with 42 days at August 31, 2023 and 48 days at November 30, 2022.
Accenture’s total cash balance at November 30, 2023 was
New Bookings
New bookings for the first quarter of fiscal 2024 were
-
Consulting new bookings were
$8.62 billion 47% of total new bookings. -
Managed Services new bookings were
$9.83 billion 53% of total new bookings.
Revenues by Geographic Market2
Revenues by geographic market were as follows:
-
North America :$7.56 billion 1% in bothU.S. dollars and local currency compared with the first quarter of fiscal 2023. -
EMEA:
$5.80 billion 9% inU.S. dollars and2% in local currency compared with the first quarter of fiscal 2023. -
Growth Markets:
$2.86 billion 2% inU.S. dollars and5% in local currency compared with the first quarter of fiscal 2023.
Revenues by Industry Group
Revenues by industry group were as follows:
-
Communications, Media & Technology:
$2.67 billion 10% inU.S. dollars and11% in local currency compared with the first quarter of fiscal 2023. -
Financial Services:
$3.03 billion 2% inU.S. dollars and flat in local currency compared with the first quarter of fiscal 2023. -
Health & Public Service:
$3.38 billion 13% inU.S. dollars and12% in local currency compared with the first quarter of fiscal 2023. -
Products:
$4.86 billion 4% inU.S. dollars and1% in local currency compared with the first quarter of fiscal 2023. -
Resources:
$2.28 billion 7% inU.S. dollars and6% in local currency compared with the first quarter of fiscal 2023.
Returning Cash to Shareholders
Accenture continues to return cash to shareholders through cash dividends and share repurchases.
2Effective September 1, 2023, we revised the reporting of our geographic markets for the movement of our |
Dividend
On November 15, 2023, a quarterly cash dividend of
Accenture plc has declared another quarterly cash dividend of
Share Repurchase Activity
During the first quarter of fiscal 2024, Accenture repurchased or redeemed 3.8 million shares for a total of
Accenture’s total remaining share repurchase authority at November 30, 2023 was approximately
At November 30, 2023, Accenture had approximately 628 million total shares outstanding.
Business Outlook
Second Quarter Fiscal 2024
Accenture expects revenues for the second quarter of fiscal 2024 to be in the range of
Fiscal Year 2024
Accenture’s business outlook for fiscal 2024 continues to assume that the foreign-exchange impact on its results in
For fiscal 2024, the company continues to expect revenue growth to be in the range of
Accenture continues to expect GAAP operating margin for fiscal 2024 to be in the range of
The company continues to expect both its GAAP and adjusted annual effective tax rate, which excludes the tax impacts of business optimization costs, to be in the range of
The company continues to expect GAAP diluted EPS to be in the range of
For fiscal 2024, the company continues to expect operating cash flow to be in the range of
The company continues to expect to return at least
360° Value Reporting
Accenture’s goal is to create 360° value for our clients, people, shareholders, partners and communities. Our reporting captures how we deliver unique value across six vital dimensions and offers a comprehensive view of our financial and environmental, social and governance (ESG) measures, and our goals, progress and performance for each. Our full 360° Value Report and online 360° Value Reporting Experience provide customizable reporting. To access, please visit the Accenture 360° Value Reporting Experience at www.accenture.com/reportingexperience.
Conference Call and Webcast Details
Accenture will host a conference call at 8:00 a.m. EST today to discuss its first quarter fiscal 2024 financial results. To participate, please dial +1 (877) 692-8955 [or +1 (234) 720-6979 outside the
A replay of the conference call will be available at www.accenture.com, and at +1 (866) 207-1041 [or +1 (402) 970-0847 outside the
About Accenture
Accenture is a leading global professional services company that helps the world’s leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services—creating tangible value at speed and scale. We are a talent- and innovation-led company with 743,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world’s leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology and leadership in cloud, data and AI with unmatched industry experience, functional expertise and global delivery capability. We are uniquely able to deliver tangible outcomes because of our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Song. These capabilities, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients reinvent and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our shareholders, partners and communities.
Non-GAAP Financial Information
This news release includes certain non-GAAP financial information as defined by Securities and Exchange Commission Regulation G. Pursuant to the requirements of this regulation, reconciliations of this non-GAAP financial information to Accenture’s financial statements as prepared under generally accepted accounting principles (GAAP) are included in this press release. Financial results “in local currency” are calculated by restating current-period activity into
Forward-Looking Statements
Except for the historical information and discussions contained herein, statements in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “aspires,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook,” “goal,” “target,” and similar expressions are used to identify these forward-looking statements. These statements are not guarantees of future performance nor promises that goals or targets will be met, and involve a number of risks, uncertainties and other factors that are difficult to predict and could cause actual results to differ materially from those expressed or implied. These risks include, without limitation, risks that: Accenture’s results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and political conditions and the effects of these conditions on the company’s clients’ businesses and levels of business activity; Accenture’s business depends on generating and maintaining client demand for the company’s services and solutions including through the adaptation and expansion of its services and solutions in response to ongoing changes in technology and offerings, and a significant reduction in such demand or an inability to respond to the evolving technological environment could materially affect the company’s results of operations; if Accenture is unable to match people and their skills with client demand around the world and attract and retain professionals with strong leadership skills, the company’s business, the utilization rate of the company’s professionals and the company’s results of operations may be materially adversely affected; Accenture faces legal, reputational and financial risks from any failure to protect client and/or company data from security incidents or cyberattacks; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; Accenture’s ability to attract and retain business and employees may depend on its reputation in the marketplace; if Accenture does not successfully manage and develop its relationships with key ecosystem partners or fails to anticipate and establish new alliances in new technologies, the company’s results of operations could be adversely affected; Accenture’s profitability could materially suffer if the company is unable to obtain favorable pricing for its services and solutions, if the company is unable to remain competitive, if its cost-management strategies are unsuccessful or if it experiences delivery inefficiencies or fail to satisfy certain agreed-upon targets or specific service levels; changes in Accenture’s level of taxes, as well as audits, investigations and tax proceedings, or changes in tax laws or in their interpretation or enforcement, could have a material adverse effect on the company’s effective tax rate, results of operations, cash flows and financial condition; Accenture’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; changes to accounting standards or in the estimates and assumptions Accenture makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results; as a result of Accenture’s geographically diverse operations and strategy to continue to grow in key markets around the world, the company is more susceptible to certain risks; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; Accenture might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; Accenture’s business could be materially adversely affected if the company incurs legal liability; Accenture’s global operations expose the company to numerous and sometimes conflicting legal and regulatory requirements; Accenture’s work with government clients exposes the company to additional risks inherent in the government contracting environment; if Accenture is unable to protect or enforce its intellectual property rights or if Accenture’s services or solutions infringe upon the intellectual property rights of others or the company loses its ability to utilize the intellectual property of others, its business could be adversely affected; Accenture may be subject to criticism and negative publicity related to its incorporation in
Accenture plc
Consolidated Income Statements
(In thousands of
(Unaudited)
|
|
Three Months Ended |
||||||||||||
|
|
November 30,
|
|
% of
|
|
November 30,
|
|
% of
|
||||||
REVENUES: |
|
|
|
|
|
|
|
|
||||||
Revenues |
|
$ |
16,224,303 |
|
|
100.0 |
% |
|
$ |
15,747,802 |
|
|
100.0 |
% |
OPERATING EXPENSES: |
|
|
|
|
|
|
|
|
||||||
Cost of services |
|
|
10,776,362 |
|
|
66.4 |
% |
|
|
10,561,660 |
|
|
67.1 |
% |
Sales and marketing |
|
|
1,709,891 |
|
|
10.5 |
% |
|
|
1,550,019 |
|
|
9.8 |
% |
General and administrative costs |
|
|
1,033,499 |
|
|
6.4 |
% |
|
|
1,043,023 |
|
|
6.6 |
% |
Business optimization costs |
|
|
139,664 |
|
|
0.9 |
% |
|
|
— |
|
|
— |
% |
Total operating expenses |
|
|
13,659,416 |
|
|
|
|
|
13,154,702 |
|
|
|
||
OPERATING INCOME |
|
|
2,564,887 |
|
|
15.8 |
% |
|
|
2,593,100 |
|
|
16.5 |
% |
Interest income |
|
|
101,980 |
|
|
|
|
|
44,705 |
|
|
|
||
Interest expense |
|
|
(14,495 |
) |
|
|
|
|
(7,280 |
) |
|
|
||
Other income (expense), net |
|
|
(35,719 |
) |
|
|
|
|
(28,907 |
) |
|
|
||
INCOME BEFORE INCOME TAXES |
|
|
2,616,653 |
|
|
16.1 |
% |
|
|
2,601,618 |
|
|
16.5 |
% |
Income tax expense |
|
|
606,672 |
|
|
|
|
|
605,318 |
|
|
|
||
NET INCOME |
|
|
2,009,981 |
|
|
12.4 |
% |
|
|
1,996,300 |
|
|
12.7 |
% |
Net income attributable to noncontrolling interest in Accenture Canada Holdings Inc. |
|
|
(2,016 |
) |
|
|
|
|
(2,085 |
) |
|
|
||
Net income attributable to noncontrolling interests – other (1) |
|
|
(34,521 |
) |
|
|
|
|
(29,265 |
) |
|
|
||
NET INCOME ATTRIBUTABLE TO ACCENTURE PLC |
|
$ |
1,973,444 |
|
|
12.2 |
% |
|
$ |
1,964,950 |
|
|
12.5 |
% |
CALCULATION OF EARNINGS PER SHARE: |
|
|
|
|
|
|
|
|
||||||
Net income attributable to Accenture plc |
|
$ |
1,973,444 |
|
|
|
|
$ |
1,964,950 |
|
|
|
||
Net income attributable to noncontrolling interest in Accenture Canada Holdings Inc. (2) |
|
|
2,016 |
|
|
|
|
|
2,085 |
|
|
|
||
Net income for diluted earnings per share calculation |
|
$ |
1,975,460 |
|
|
|
|
$ |
1,967,035 |
|
|
|
||
WEIGHTED AVERAGE SHARES: |
|
|
|
|
|
|
|
|
||||||
Basic |
|
|
627,996,111 |
|
|
|
|
|
630,137,262 |
|
|
|
||
Diluted |
|
|
637,398,361 |
|
|
|
|
|
638,766,821 |
|
|
|
||
EARNINGS PER SHARE: |
|
|
|
|
|
|
|
|
||||||
Basic |
|
$ |
3.14 |
|
|
|
|
$ |
3.12 |
|
|
|
||
Diluted |
|
$ |
3.10 |
|
|
|
|
$ |
3.08 |
|
|
|
||
Cash dividends per share |
|
$ |
1.29 |
|
|
|
|
$ |
1.12 |
|
|
|
||
(1) |
Comprised primarily of noncontrolling interest attributable to the noncontrolling shareholders of Avanade, Inc. |
|
(2) |
Diluted earnings per share assumes the exchange of all Accenture Canada Holdings Inc. exchangeable shares for Accenture plc Class A ordinary shares on a one-for-one basis. The income effect does not take into account “Net income attributable to noncontrolling interests — other,” since those shares are not redeemable or exchangeable for Accenture plc Class A ordinary shares. |
Accenture plc
Summary of Revenues
(In thousands of
(Unaudited)
|
|
Three Months Ended |
|
Percent
|
|
Percent
|
||||
|
|
November 30, 2023 |
|
November 30, 2022 |
|
|
||||
GEOGRAPHIC MARKETS (1) |
|
|
|
|
|
|
|
|
||
|
|
$ |
7,562,902 |
|
$ |
7,622,820 |
|
(1) |
|
(1) |
EMEA |
|
|
5,803,642 |
|
|
5,312,899 |
|
9 |
|
2 |
Growth Markets |
|
|
2,857,759 |
|
|
2,812,083 |
|
2 |
|
5 |
Total Revenues |
|
$ |
16,224,303 |
|
$ |
15,747,802 |
|
|
|
|
INDUSTRY GROUPS |
|
|
|
|
|
|
|
|
||
Communications, Media & Technology |
|
$ |
2,669,448 |
|
$ |
2,980,203 |
|
(10)% |
|
(11)% |
Financial Services |
|
|
3,033,578 |
|
|
2,963,396 |
|
2 |
|
— |
Health & Public Service |
|
|
3,377,466 |
|
|
3,000,019 |
|
13 |
|
12 |
Products |
|
|
4,859,987 |
|
|
4,665,788 |
|
4 |
|
1 |
Resources |
|
|
2,283,824 |
|
|
2,138,396 |
|
7 |
|
6 |
Total Revenues |
|
$ |
16,224,303 |
|
$ |
15,747,802 |
|
|
|
|
TYPE OF WORK |
|
|
|
|
|
|
|
|
||
Consulting |
|
$ |
8,456,506 |
|
$ |
8,444,367 |
|
—% |
|
(2)% |
Managed Services |
|
|
7,767,797 |
|
|
7,303,435 |
|
6 |
|
5 |
Total Revenues |
|
$ |
16,224,303 |
|
$ |
15,747,802 |
|
|
|
|
(1) |
Effective September 1, 2023, we revised the reporting of our geographic markets for the movement of our |
Accenture plc
Operating Income by Geographic Market
(In thousands of
(Unaudited)
|
Three Months Ended |
|
|
||||||||||||
|
November 30, 2023 |
|
November 30, 2022 |
|
|
||||||||||
|
Operating
|
|
Operating
|
|
Operating
|
|
Operating
|
|
Increase
|
||||||
|
$ |
1,256,708 |
|
17 |
% |
|
$ |
1,309,883 |
|
17 |
% |
|
$ |
(53,175 |
) |
EMEA (1) |
|
823,601 |
|
14 |
|
|
|
726,883 |
|
14 |
|
|
|
96,718 |
|
Growth Markets (1) |
|
484,578 |
|
17 |
|
|
|
556,334 |
|
20 |
|
|
|
(71,756 |
) |
Total Operating Income |
$ |
2,564,887 |
|
15.8 |
% |
|
$ |
2,593,100 |
|
16.5 |
% |
|
$ |
(28,213 |
) |
(1) |
Effective September 1, 2023, we revised the reporting of our geographic markets for the movement of our |
Accenture plc
Reconciliation of Operating Income (GAAP) to Operating Income As Adjusted (Non-GAAP)
(In thousands of
(Unaudited)
|
Three Months Ended |
|
|
||||||||||||||||||
|
November 30, 2023 |
|
November 30, 2022 |
|
|
||||||||||||||||
|
As Reported
|
|
Business
|
|
Adjusted
|
|
Operating
|
|
As Reported
|
|
Operating
|
|
Increase
|
||||||||
|
$ |
1,256,708 |
|
$ |
45,929 |
|
$ |
1,302,637 |
|
17 |
% |
|
$ |
1,309,883 |
|
17 |
% |
|
$ |
(7,246 |
) |
EMEA (2) |
|
823,601 |
|
|
70,804 |
|
|
894,405 |
|
15 |
|
|
|
726,883 |
|
14 |
|
|
|
167,522 |
|
Growth Markets (2) |
|
484,578 |
|
|
22,931 |
|
|
507,509 |
|
18 |
|
|
|
556,334 |
|
20 |
|
|
|
(48,825 |
) |
Total Operating Income |
$ |
2,564,887 |
|
$ |
139,664 |
|
$ |
2,704,551 |
|
16.7 |
% |
|
$ |
2,593,100 |
|
16.5 |
% |
|
$ |
111,451 |
|
(1) |
Costs recorded in connection with our business optimization initiatives, primarily for employee severance. |
|
(2) |
Effective September 1, 2023, we revised the reporting of our geographic markets for the movement of our |
Accenture plc
Reconciliation of Net Income and Diluted Earnings Per Share, as Reported (GAAP), to Net Income and Diluted Earnings Per Share, as Adjusted (Non-GAAP)
(In thousands of
(Unaudited)
|
Three Months Ended |
||||||||||||
|
November 30, 2023 |
|
November 30, 2022 |
||||||||||
|
As Reported
|
Business
|
Adjusted
|
|
As Reported
|
||||||||
Operating Income |
$ |
2,564,887 |
|
$ |
139,664 |
|
$ |
2,704,551 |
|
|
$ |
2,593,100 |
|
Operating Margin |
|
15.8 |
% |
|
0.9 |
% |
|
16.7 |
% |
|
|
16.5 |
% |
|
|
|
|
|
|
||||||||
Income before income taxes |
|
2,616,653 |
|
|
139,664 |
|
|
2,756,317 |
|
|
|
2,601,618 |
|
Income tax expense |
|
606,672 |
|
|
33,978 |
|
|
640,650 |
|
|
|
605,318 |
|
Net Income |
$ |
2,009,981 |
|
$ |
105,686 |
|
$ |
2,115,667 |
|
|
$ |
1,996,300 |
|
Effective tax rate |
|
23.2 |
% |
|
24.3 |
% |
|
23.2 |
% |
|
|
23.3 |
% |
Diluted earnings per share |
$ |
3.10 |
|
$ |
0.17 |
|
$ |
3.27 |
|
|
$ |
3.08 |
|
(1) |
Costs recorded in connection with our business optimization initiatives, primarily for employee severance. |
Accenture plc
Consolidated Balance Sheets
(In thousands of
|
|
November 30, 2023 |
|
August 31, 2023 |
||
ASSETS |
|
(Unaudited) |
|
|
||
CURRENT ASSETS: |
|
|
|
|
||
Cash and cash equivalents |
|
$ |
7,140,841 |
|
$ |
9,045,032 |
Short-term investments |
|
|
4,597 |
|
|
4,575 |
Receivables and contract assets |
|
|
13,241,359 |
|
|
12,227,186 |
Other current assets |
|
|
2,668,779 |
|
|
2,105,138 |
Total current assets |
|
|
23,055,576 |
|
|
23,381,931 |
NON-CURRENT ASSETS: |
|
|
|
|
||
Contract assets |
|
|
121,563 |
|
|
106,994 |
Investments |
|
|
198,074 |
|
|
197,443 |
Property and equipment, net |
|
|
1,467,896 |
|
|
1,530,007 |
Lease assets |
|
|
2,576,198 |
|
|
2,637,479 |
Goodwill |
|
|
16,236,442 |
|
|
15,573,003 |
Other non-current assets |
|
|
7,875,605 |
|
|
7,818,448 |
Total non-current assets |
|
|
28,475,778 |
|
|
27,863,374 |
TOTAL ASSETS |
|
$ |
51,531,354 |
|
$ |
51,245,305 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
||
CURRENT LIABILITIES: |
|
|
|
|
||
Current portion of long-term debt and bank borrowings |
|
$ |
104,819 |
|
$ |
104,810 |
Accounts payable |
|
|
2,574,700 |
|
|
2,491,173 |
Deferred revenues |
|
|
4,459,593 |
|
|
4,907,152 |
Accrued payroll and related benefits |
|
|
7,260,479 |
|
|
7,506,030 |
Lease liabilities |
|
|
683,628 |
|
|
690,417 |
Other accrued liabilities |
|
|
2,197,019 |
|
|
2,309,456 |
Total current liabilities |
|
|
17,280,238 |
|
|
18,009,038 |
NON-CURRENT LIABILITIES: |
|
|
|
|
||
Long-term debt |
|
|
42,309 |
|
|
43,093 |
Lease liabilities |
|
|
2,249,466 |
|
|
2,310,714 |
Other non-current liabilities |
|
|
4,473,904 |
|
|
4,423,867 |
Total non-current liabilities |
|
|
6,765,679 |
|
|
6,777,674 |
Total Accenture plc shareholders’ equity |
|
|
26,676,751 |
|
|
25,692,839 |
Noncontrolling interests |
|
|
808,686 |
|
|
765,754 |
Total shareholders’ equity |
|
|
27,485,437 |
|
|
26,458,593 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
$ |
51,531,354 |
|
$ |
51,245,305 |
Accenture plc
Consolidated Cash Flows Statements
(In thousands of
(Unaudited)
|
|
Three Months Ended |
||||||
|
|
November 30, 2023 |
|
November 30, 2022 |
||||
CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
|
|
||||
Net income |
|
$ |
2,009,981 |
|
|
$ |
1,996,300 |
|
Depreciation, amortization and other |
|
|
521,400 |
|
|
|
506,229 |
|
Share-based compensation expense |
|
|
423,000 |
|
|
|
425,469 |
|
Change in assets and liabilities/other, net |
|
|
(2,455,830 |
) |
|
|
(2,432,600 |
) |
Net cash provided by (used in) operating activities |
|
|
498,551 |
|
|
|
495,398 |
|
CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
|
|
||||
Purchases of property and equipment |
|
|
(68,933 |
) |
|
|
(98,830 |
) |
Purchases of businesses and investments, net of cash acquired |
|
|
(788,025 |
) |
|
|
(686,460 |
) |
Proceeds from the sale of businesses and investments |
|
|
— |
|
|
|
596 |
|
Other investing, net |
|
|
1,528 |
|
|
|
2,620 |
|
Net cash provided by (used in) investing activities |
|
|
(855,430 |
) |
|
|
(782,074 |
) |
CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
|
||||
Proceeds from issuance of ordinary shares |
|
|
477,434 |
|
|
|
465,707 |
|
Purchases of shares |
|
|
(1,191,128 |
) |
|
|
(1,418,702 |
) |
Cash dividends paid |
|
|
(810,056 |
) |
|
|
(705,567 |
) |
Other financing, net |
|
|
(28,163 |
) |
|
|
(18,298 |
) |
Net cash provided by (used in) financing activities |
|
|
(1,551,913 |
) |
|
|
(1,676,860 |
) |
Effect of exchange rate changes on cash and cash equivalents |
|
|
4,601 |
|
|
|
(26,594 |
) |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |
|
|
(1,904,191 |
) |
|
|
(1,990,130 |
) |
CASH AND CASH EQUIVALENTS, beginning of period |
|
|
9,045,032 |
|
|
|
7,889,833 |
|
CASH AND CASH EQUIVALENTS, end of period |
|
$ |
7,140,841 |
|
|
$ |
5,899,703 |
|
|
|
|
|
|
||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20231219913711/en/
Rachel Frey
Accenture Media Relations
+1 917 452 4421
rachel.frey@accenture.com
Katie O’Conor
Accenture Investor Relations
+1 973 301 3275
catherine.m.oconor@accenture.com
Source: Accenture
FAQ
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