8-KEarnings & ResultsExhibits & Filings

Accenture plc 8-K Report, Financial Results (Jun 26, 2014)

Filed June 26, 2014For Securities:ACN

Summary

Accenture plc filed an 8-K on June 26, 2014, to announce its third-quarter fiscal year 2014 financial results, which concluded on May 31, 2014. The filing primarily directs investors to a news release (Exhibit 99) containing these results. The report highlights Accenture's use of several non-GAAP financial measures to provide a clearer view of its operational performance, excluding specific items that may distort year-over-year comparisons. These measures include free cash flow, net revenue growth excluding foreign currency fluctuations, and earnings per share and operating metrics adjusted for significant one-time reorganization benefits and tax settlements from prior fiscal years. Investors are encouraged to review the accompanying news release for the detailed financial figures and reconciliations of these non-GAAP metrics to their GAAP equivalents. The purpose of these adjustments is to offer a more meaningful understanding of Accenture's ongoing business operations and its ability to generate cash, while acknowledging the impact of discrete historical events that are not reflective of its current performance. The company emphasizes that these non-GAAP figures are supplementary and should be considered alongside its GAAP-reported results.

Key Highlights

  • 1Accenture plc announced its third-quarter fiscal year 2014 financial results on June 26, 2014.
  • 2The filing directs investors to a furnished news release (Exhibit 99) for detailed financial information.
  • 3The company utilizes several non-GAAP financial measures, including free cash flow, to provide additional insights into its performance.
  • 4Accenture reports net revenue growth on a local currency basis, excluding the impact of foreign currency exchange rate fluctuations.
  • 5Results are presented excluding material one-time reorganization benefits recorded in fiscal year 2013.
  • 6Earnings per share and tax rate information are also provided excluding specific prior year tax settlements.
  • 7Reconciliations of non-GAAP measures to GAAP are available within the referenced news release.

Frequently Asked Questions

The main purpose of this 8-K filing is to publicly announce Accenture's financial results for its third quarter of fiscal year 2014, which ended on May 31, 2014. It serves as a notification and directs investors to the detailed earnings release, which is attached as an exhibit.

Accenture highlights several non-GAAP measures in the accompanying news release, including free cash flow, net revenue percentage changes excluding foreign currency impacts (on a local currency basis), and adjusted earnings per share, operating income, operating margin, and effective tax rate. These adjustments exclude material reorganization benefits from fiscal 2013 and benefit from U.S. federal tax liability settlements from fiscal 2013.

Accenture uses these non-GAAP measures because management believes they provide meaningful additional information regarding the company's liquidity and ongoing operating performance. By excluding the effects of foreign currency fluctuations and significant one-time items like past reorganization benefits and tax settlements, the company aims to facilitate a clearer understanding and comparison of its core business operations and financial health over time.

The detailed financial results, including reconciliations of the non-GAAP financial measures to the most directly comparable GAAP measures, are provided in the news release dated June 26, 2014, which is attached as Exhibit 99 to this 8-K filing.