Accenture Reports Strong Fourth-Quarter and Full-Year Fiscal 2017 Results
-- For the fourth quarter, revenues increase 8% in both U.S. dollars and local currency, to $9.1 billion; GAAP EPS are $1.48, a 13% increase from adjusted EPS of $1.31 in the fourth quarter of fiscal 2016; free cash flow is $1.8 billion --
-- For full fiscal year, revenues increase 6% in U.S. dollars and 7% in local currency, to $34.9 billion; GAAP EPS of $5.44 include a $0.47 pension settlement charge; excluding this charge, EPS are $5.91, an 11% increase from adjusted EPS of $5.34 in fiscal 2016; free cash flow is $4.5 billion --
-- New bookings are $10.1 billion for fourth quarter and $37.4 billion for full year --
-- Company increases semi-annual cash dividend 10%, to $1.33 per share --
-- For fiscal year 2018, Accenture expects net revenue growth of 5% to 8% in local currency and GAAP EPS of $6.36 to $6.60 --
NEW YORK; Sept. 28, 2017 — Accenture (NYSE: ACN) reported strong financial results for the fourth quarter and full fiscal year ended Aug. 31, 2017.
For the fourth quarter, net revenues were $9.1 billion, an increase of 8 percent in both U.S. dollars and local currency compared with the fourth quarter of fiscal 2016. GAAP diluted earnings per share were $1.48, compared with $1.68 for the fourth quarter last year, which included $0.37 from gains on the sale of businesses. Excluding these gains, diluted EPS for the fourth quarter last year were $1.31 on an adjusted basis. Operating margin for the fourth quarter of fiscal 2017 was 14.2 percent, an expansion of 10 basis points. Operating cash flow was $1.9 billion and free cash flow was $1.8 billion. New bookings were $10.1 billion.
For the full fiscal year, net revenues were $34.9 billion, an increase of 6 percent in U.S. dollars and 7 percent in local currency compared with fiscal 2016. GAAP diluted earnings per share were $5.44, compared with $6.45 in fiscal 2016. EPS for fiscal 2017 included a pension settlement charge of $0.47 per share; EPS for fiscal 2016 included gains on the sale of businesses totaling $1.11 per share. Excluding these items, diluted EPS for fiscal 2017 were $5.91, compared with $5.34 in fiscal 2016, on an adjusted basis. GAAP operating margin for fiscal 2017 was 13.3 percent. Excluding the impact of the pension settlement charge, operating margin was 14.8 percent on an adjusted basis, compared with 14.6 percent in fiscal 2016. Operating cash flow for fiscal 2017 was $5.0 billion and free cash flow was $4.5 billion. New bookings were $37.4 billion.
In addition, Accenture’s Board of Directors has declared a semi-annual cash dividend of $1.33 per share, an increase of $0.12 per share, or 10 percent, over its previous semi-annual dividend, declared in March.
Pierre Nanterme, Accenture’s chairman and CEO, said, “We are pleased with our excellent financial results for both the fourth quarter and the full fiscal year 2017. For the year, we again delivered profitable growth, with broad-based revenue growth of 7 percent in local currency, EPS growth of 11 percent on an adjusted basis and very strong free cash flow.
“Our durable performance over the last few years reflects the successful rotation of our business to high-growth areas such as digital, cloud and security services, which accounted for
The following information was filed by Accenture Holdings Plc (AHP) on Thursday, September 28, 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.