Accenture beats by $0.13, reports revs in-line; guides Q2 revs below consensus; reaffirms FY24 EPS guidance, revs guidance
- Reports Q1 (Nov) earnings of $3.27 per share, $0.13 better than the FactSet Consensus of $3.14; revenues rose 3.0% year/year to $16.22 bln vs the $16.17 bln FactSet Consensus.
- Co issues downside guidance for Q2, sees Q2 revs of $15.4-16.0 bln vs. $16.25 bln FactSet Consensus.
- Co reaffirms guidance for FY24, sees EPS of $11.97-12.23 vs. $12.24 FactSet Consensus; sees FY24 revs of +2-5% yr/yr to $65.4-67.3 bln vs. $66.47 bln FactSet Consensus.
- New bookings for the first quarter of fiscal 2024 were $18.45 billion, a 14% increase in U.S. dollars and a 12% increase in local currency over the first quarter of fiscal 2023.
- For fiscal 2024, the company continues to expect operating cash flow to be in the range of $9.3 billion to $9.9 billion; property and equipment additions to be $600 million; and free cash flow to be in the range of $8.7 billion to $9.3 billion.