Summary
Accenture plc (ACN) filed an 8-K on March 28, 2019, to announce its financial results for the second quarter of fiscal year 2019, ending February 28, 2019. The filing primarily references an attached news release (Exhibit 99) which contains the detailed financial performance and operational updates. Investors should note that Accenture utilizes and discusses several non-GAAP financial measures, including free cash flow, revenue changes in local currency, and earnings per share, net income, and effective tax rate excluding the impact of the U.S. Tax Cuts and Jobs Act. These non-GAAP measures are presented as supplemental information to aid in understanding the company's performance by removing certain fluctuations and specific charges.
Key Highlights
- 1Accenture announced its second quarter fiscal year 2019 financial results on March 28, 2019, via a press release.
- 2The filing is primarily an announcement of results, with detailed information contained in the referenced Exhibit 99 news release.
- 3Accenture provided revenue figures and other financial metrics on a non-GAAP basis.
- 4Key non-GAAP measures disclosed include free cash flow and percentage changes in revenues on a local currency basis.
- 5The company also presented adjusted diluted earnings per share, net income, and effective tax rate, excluding the impact of the U.S. Tax Cuts and Jobs Act from the prior year's second quarter.
- 6Accenture management believes these non-GAAP metrics offer valuable insights into operational performance and liquidity.
- 7Reconciliations between GAAP and non-GAAP measures are available within the provided news release.
Frequently Asked Questions
The main purpose of this 8-K filing is to announce Accenture's financial results for the second quarter of fiscal year 2019, which ended on February 28, 2019. It directs investors to a press release (Exhibit 99) for the detailed financial performance information.
Accenture presents several non-GAAP financial measures, including free cash flow (operating cash flow minus capital expenditures), revenue growth excluding foreign currency fluctuations, and adjusted net income, diluted earnings per share, and effective tax rate that exclude the impact of the U.S. Tax Cuts and Jobs Act from the prior year's results.
Accenture's management believes that these non-GAAP measures provide additional meaningful information for investors to understand the company's financial performance and liquidity. They aim to offer a clearer view of operational trends by excluding factors like currency exchange rate impacts and specific historical tax charges.
The full financial details, including the reconciliations of non-GAAP measures to their most directly comparable GAAP measures, are provided in the news release attached as Exhibit 99 to this 8-K filing.