8-KEarnings & ResultsExhibits & Filings

Accenture plc 8-K Report, Financial Results (Jun 25, 2015)

Filed June 25, 2015For Securities:ACN

Summary

Accenture plc (ACN) filed an 8-K on June 25, 2015, to report its third quarter fiscal year 2015 financial results, which concluded on May 31, 2015. The filing primarily includes a press release detailing these results and provides insight into the non-GAAP financial measures the company uses. Investors should note Accenture's emphasis on metrics like free cash flow, net revenue growth excluding foreign currency fluctuations, and adjusted earnings per share, operating income, and net income that exclude a non-cash pension settlement charge. This report signals that the company is focusing on operational performance and cash generation, while also providing adjusted figures to offer a clearer view of underlying business trends, particularly important in a global market susceptible to currency volatility. While these non-GAAP measures are presented as supplemental, they are key to understanding Accenture's management's view of the company's performance and liquidity. Investors should refer to the detailed reconciliations provided in the accompanying press release to fully understand the adjustments made from GAAP figures.

Key Highlights

  • 1Accenture plc announced its third quarter fiscal year 2015 financial results for the period ending May 31, 2015, via an 8-K filing on June 25, 2015.
  • 2The company utilizes and discloses several non-GAAP financial measures, including free cash flow, net revenue growth in local currency (excluding reimbursements), and adjusted EPS, operating income, net income, and effective tax rate.
  • 3Free cash flow is defined as operating cash flow net of property and equipment additions, presented to provide insight into liquidity.
  • 4Net revenue growth is reported on a local currency basis to exclude the impact of foreign currency exchange rate fluctuations, facilitating a more direct comparison of business performance.
  • 5Adjusted financial metrics (EPS, operating income, net income, effective tax rate) exclude a non-cash charge related to the settlement of certain U.S. pension obligations.
  • 6Accenture management believes these non-GAAP measures offer meaningful supplemental information for evaluating the company's operations and performance.
  • 7The full financial results and reconciliations of non-GAAP to GAAP measures are available in the attached press release (Exhibit 99).

Frequently Asked Questions

The main purpose of this 8-K filing is to report Accenture plc's financial results for its third quarter of fiscal year 2015, which ended on May 31, 2015. It includes a press release that details these results and the non-GAAP financial measures the company uses.

Accenture highlights several non-GAAP measures: free cash flow (operating cash flow minus capital expenditures), net revenue growth in local currency (excluding reimbursements), and adjusted earnings per share, operating income, net income, and effective tax rate, which exclude a non-cash charge from pension settlement.

Accenture reports net revenue growth in local currency to provide a clearer view of the company's underlying business performance by eliminating the impact of fluctuations in foreign currency exchange rates. This allows for a more meaningful comparison of revenue trends across periods.

The pension settlement charge is a non-cash item related to U.S. pension obligations. By excluding this charge from certain financial metrics like earnings per share and operating income, Accenture aims to present a view of its core operating performance that is not distorted by this one-time, non-cash event.