8-KEarnings & ResultsExhibits & Filings

Accenture plc 8-K Report, Financial Results (Jun 22, 2017)

Filed June 22, 2017For Securities:ACN

Summary

Accenture plc (ACN) filed an 8-K on June 22, 2017, to report its financial results for the third quarter of fiscal year 2017, ending May 31, 2017. The filing primarily references a news release attached as an exhibit, which details the company's performance and provides non-GAAP financial measures. Investors should note the disclosure of free cash flow, local currency net revenue growth (excluding reimbursements), and adjusted earnings per share, net income, operating income, and tax rate, which exclude the impact of a pension settlement charge and the gain on the sale of the Navitaire business. These non-GAAP measures are presented by Accenture's management as providing meaningful insights into the company's ongoing operational performance and liquidity by removing the effects of specific, significant events. The filing emphasizes that while these supplemental measures are useful, they should be considered alongside, and not as a substitute for, the company's GAAP financial statements. Investors are directed to the attached news release for detailed reconciliations of these non-GAAP figures to their GAAP equivalents.

Key Highlights

  • 1Accenture announced its third quarter fiscal year 2017 financial results on June 22, 2017.
  • 2The 8-K filing includes a news release detailing Q3 FY17 financial performance.
  • 3Key non-GAAP financial measures disclosed include Free Cash Flow, local currency net revenue growth, and adjusted EPS, net income, operating income, and effective tax rate.
  • 4Non-GAAP metrics exclude the impact of a pension settlement charge and the gain from the Navitaire business divestiture.
  • 5Accenture's management believes these non-GAAP measures offer enhanced insights into operational performance and liquidity.
  • 6Reconciliations of non-GAAP to GAAP figures are available in the provided news release exhibit.
  • 7The filing designates the information as furnished, not filed, meaning it's for informational purposes and not subject to the same regulatory scrutiny as filed information.

Frequently Asked Questions

The primary purpose of this 8-K filing is to publicly announce and provide access to Accenture's financial results for its third quarter of fiscal year 2017, which ended on May 31, 2017. It serves to make the official financial reporting and related news release readily available to investors and the public.

Accenture highlights several non-GAAP measures, including Free Cash Flow (operating cash flow less property and equipment additions), net revenue growth on a local currency basis (excluding reimbursements), and adjusted figures for diluted earnings per share, effective tax rate, net income, operating income, and operating margin. These adjusted metrics specifically exclude the impact of a pension settlement charge and the gain on the sale of the Navitaire business.

Accenture's management believes that these non-GAAP financial measures provide meaningful additional information to investors. They are presented to offer a clearer understanding of the company's ongoing operational performance and liquidity by excluding the effects of specific, non-recurring events like pension plan terminations or significant business divestitures, facilitating easier comparison of performance over time.

The detailed financial results and reconciliations of the non-GAAP financial measures to the most directly comparable GAAP measures are included in the news release attached as Exhibit 99 to this 8-K filing. Investors should refer to that document for the complete financial picture.