8-KEarnings & ResultsExhibits & Filings

Accenture plc 8-K Report, Financial Results (Mar 26, 2015)

Filed March 26, 2015For Securities:ACN

Summary

Accenture plc (ACN) filed an 8-K on March 26, 2015, to announce its financial results for the second quarter of fiscal year 2015, ending February 28, 2015. The filing primarily incorporates a news release detailing these results and includes important disclosures about the non-GAAP financial measures the company uses for reporting and investor communication. Investors should note Accenture's emphasis on "net revenues" (revenues before reimbursements) and the presentation of changes in net revenues on a local currency basis, which excludes the impact of foreign currency fluctuations. Additionally, the company provides "free cash flow" as a key liquidity metric and discusses earnings per share and operating margin outlook, excluding a non-cash charge related to U.S. pension obligations. Reconciliations between these non-GAAP measures and their GAAP equivalents are available in the referenced news release, providing investors with a comprehensive view of the company's performance.

Key Highlights

  • 1Accenture announced its Q2 FY15 financial results on March 26, 2015, for the quarter ending February 28, 2015.
  • 2The company provided details on its "net revenues" (revenues before reimbursements) and how these are presented on a local currency basis to neutralize foreign exchange impacts.
  • 3Free cash flow is highlighted as a key non-GAAP metric for assessing liquidity.
  • 4Accenture's business outlook for earnings per share and operating margin excludes a non-cash charge related to U.S. pension obligations.
  • 5Reconciliations between non-GAAP and GAAP financial measures are included in the furnished news release.
  • 6The filing is primarily an "Information Furnished Pursuant to Item 2.02" and an Exhibit of the March 26, 2015, news release.

Frequently Asked Questions

The 8-K highlights Accenture's Q2 FY15 results and emphasizes non-GAAP metrics including net revenues (reported in local currency to exclude foreign exchange impacts), free cash flow, and business outlook for earnings per share and operating margin that excludes a non-cash pension charge.

Accenture reports changes in net revenues on a local currency basis to provide a clearer comparison of its revenue performance by removing the impact of foreign currency exchange rate fluctuations, which can distort period-over-period comparisons.

Accenture defines free cash flow as operating cash flow net of property and equipment additions. Management believes this metric offers meaningful additional insight into the company's liquidity.

Accenture's business outlook for earnings per share and operating margin excludes a non-cash charge related to the settlement of certain U.S. pension obligations, allowing for a clearer view of operational performance.