Accenture Reports Very Strong Second-Quarter Fiscal 2019 Results and Raises Business Outlook for Fiscal 2019
-- Revenues increase 5% in U.S. dollars and 9% in local currency to $10.5 billion --
-- EPS are $1.73, compared with $1.37 for the second quarter last year, which included a $0.21 charge; on an adjusted basis, EPS increased 9% from $1.58 in the second quarter last year --
-- Operating income increases 7% to $1.39 billion, with operating margin of 13.3%, an
expansion of 20 basis points --
-- Record new bookings of $11.8 billion include consulting bookings of $6.7 billion and
outsourcing bookings of $5.1 billion --
-- Company declares semi-annual cash dividend of $1.46 per share, a 10% increase over the
prior year --
-- Accenture updates business outlook for fiscal 2019; raises range for full-year revenue growth
to 6.5-8.5% in local currency; raises outlook for EPS to $7.18 to $7.32; and raises outlook for
free cash flow to $5.2 billion to $5.6 billion --
NEW YORK; Mar. 28, 2019 — Accenture (NYSE: ACN) reported financial results for the second quarter of fiscal 2019, ended Feb. 28, 2019, with revenues of $10.5 billion, an increase of 5 percent in U.S. dollars and 9 percent in local currency over the same period last year.
Diluted earnings per share were $1.73, compared with $1.37 for the second quarter last year, which included a $0.21 charge related to U.S. tax law changes. Diluted EPS for the second quarter of fiscal 2019 increased 9 percent from adjusted diluted EPS of $1.58 in the same period last year.
Operating income was $1.39 billion, a 7 percent increase over the same period last year, and operating margin was 13.3 percent, an expansion of 20 basis points.
New bookings for the quarter were $11.8 billion, with consulting bookings of $6.7 billion and outsourcing bookings of $5.1 billion.
David Rowland, Accenture’s interim chief executive officer, said, “We delivered outstanding financial results for the second quarter. I am particularly pleased with our record new bookings of $11.8 billion and revenue growth of 9 percent in local currency, which reflect significant market share gains. In addition, we delivered very strong profitability while generating excellent free cash flow.
“The durability of our performance reflects the power of our highly differentiated growth strategy — from our leadership position in the New, to our rapidly growing business in Intelligent Platform Services, to our relentless focus on leading with innovation. With the successful execution of our strategy, combined with the disciplined management of our business, we are very well-positioned to continue growing ahead of the market and delivering significant value for clients and shareholders.”
The following information was filed by Accenture Plc (ACN) on Thursday, March 28, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.