Accenture Reports Strong Third-Quarter Fiscal 2017 Results
-- Revenues increased 5% in U.S. dollars and 7% in local currency to $8.9 billion --
-- EPS of $1.05 included a $0.47 pension settlement charge. Excluding this charge, EPS were $1.52, compared with $1.41 in the third quarter last year --
-- Operating income was $865 million, including the $510 million pension settlement charge. Excluding the charge, operating income was $1.38 billion with operating margin of 15.5%, compared with $1.31 billion and 15.5% in the third quarter last year --
-- New bookings were $9.8 billion, with record consulting bookings of $5.2 billion
and outsourcing bookings of $4.6 billion --
-- “The New” – digital-, cloud- and security-related services – accounted for approximately 50% of total revenues, with continued strong double-digit growth --
-- Accenture updates business outlook for fiscal 2017 --
NEW YORK; June 22, 2017 — Accenture (NYSE: ACN) reported financial results for the third quarter of fiscal 2017, ended May 31, 2017, with net revenues of $8.9 billion, an increase of 5 percent in U.S. dollars and 7 percent in local currency over the same period last year.
Diluted earnings per share were $1.05, including the impact of a pension settlement charge of $510 million, pre-tax, or $0.47 per share, in connection with the company’s previously disclosed termination of its U.S. pension plan. Excluding this charge, diluted earnings per share were $1.52, compared with $1.41 for the third quarter last year.
Operating income for the quarter was $865 million, or 9.8 percent of net revenues, including the $510 million pension settlement charge. Excluding this charge, operating income was $1.38 billion, or 15.5 percent of net revenues, compared with $1.31 billion, or 15.5 percent of net revenues for the third quarter last year.
New bookings for the quarter were $9.8 billion, with record consulting bookings of $5.2 billion and outsourcing bookings of $4.6 billion.
Pierre Nanterme, Accenture’s chairman and CEO, said, “We are pleased with our strong third-quarter financial results. We delivered 7 percent revenue growth in local currency and gained significant market share, with broad-based growth across most dimensions of our business. I am particularly pleased with our new bookings of $9.8 billion, which demonstrate that our services and capabilities continue to be highly differentiated in the marketplace.
“We are clearly benefiting from the diversity of our business – from an industry, geographic and capability standpoint – which drives durability in our financial performance. At the same time, our focused investments in high-growth areas, such as digital, cloud and security services, are further differentiating Accenture and enabling us to grow ahead of the market. We remain very well-positioned to continue driving profitable growth and delivering value for our clients and shareholders.”
The following information was filed by Accenture Holdings Plc (AHP) on Thursday, June 22, 2017 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.