8-KEarnings & ResultsExhibits & Filings

Accenture plc 8-K Report, Financial Results (Mar 23, 2017)

Filed March 23, 2017For Securities:ACN

Summary

Accenture plc (ACN) filed an 8-K on March 23, 2017, reporting its financial results for the second quarter of fiscal year 2017, ending February 28, 2017. The filing primarily directs investors to an attached news release (Exhibit 99) for detailed financial information. The company highlighted its use of non-GAAP financial measures, including free cash flow, net revenue changes on a local currency basis, and adjusted diluted earnings per share, net income, operating margin, and effective tax rate. These adjustments exclude the gain from the Navitaire business sale and a charge related to U.S. pension obligations, which Accenture's management believes offer a clearer view of underlying operational performance. Investors should note that while these non-GAAP measures are presented as supplemental, they are intended to provide a more meaningful understanding of Accenture's financial health and operational trends, especially concerning foreign currency fluctuations and significant one-time events. The company emphasizes that these non-GAAP figures should be considered alongside, not as a replacement for, GAAP-based financial statements. The filing serves as a notification that the detailed results and reconciliations to GAAP are available in the referenced news release.

Key Highlights

  • 1Accenture reported its Q2 FY17 financial results on March 23, 2017, with the fiscal quarter ending February 28, 2017.
  • 2The primary disclosure of financial results is through an attached news release (Exhibit 99), which is furnished but not filed.
  • 3The company utilizes several non-GAAP financial measures to provide additional insights into its performance.
  • 4Key non-GAAP measures include free cash flow, net revenue growth excluding foreign currency impacts, and adjusted EPS, net income, operating margin, and effective tax rate.
  • 5Adjustments to GAAP results exclude the gain on the sale of the Navitaire business and a non-cash charge related to U.S. pension obligations.
  • 6Management believes these non-GAAP measures offer a better understanding of operational performance by isolating the effects of foreign currency fluctuations and significant one-time events.
  • 7Reconciliations of non-GAAP measures to their most comparable GAAP figures are available within the referenced news release.

Frequently Asked Questions

The detailed financial results for Accenture's second quarter of fiscal year 2017 are provided in the news release attached as Exhibit 99 to this 8-K filing. This news release contains comprehensive financial data and reconciliations to GAAP.

Accenture is highlighting free cash flow, net revenue changes on a local currency basis (excluding foreign currency exchange rate fluctuations), and adjusted diluted earnings per share, net income, operating margin, and effective tax rate. These adjustments are made to exclude the impact of the Navitaire business divestiture and a U.S. pension obligation charge.

Accenture's management uses these non-GAAP measures to provide additional meaningful information about the company's liquidity and operational performance. They aim to give investors a clearer view of the company's core business performance by excluding the effects of foreign currency exchange rate fluctuations and significant one-time events like divestitures or specific charges.

No, Accenture states that while its management believes the non-GAAP financial information is useful, it should be considered supplemental and not a substitute for the financial information prepared in accordance with GAAP.