01—Abstract
Summary
Summary of the 8-K filed June 27, 2019. Cited figures are marked; the original filing is the authoritative source.
Accenture plc (ACN) filed an 8-K on June 27, 2019, reporting its financial results for the third quarter of fiscal year 2019, ending May 31, 2019.
The filing primarily incorporates a press release announcing these results. Investors should note that Accenture provided certain non-GAAP financial measures, including free cash flow, revenue changes in local currency, and adjusted earnings per share and net income excluding the impact of tax law changes from fiscal 2018.
While these non-GAAP measures are presented to offer additional insights into the company's operational performance and liquidity, investors are reminded that they are supplemental and should be considered alongside the GAAP-based financial information. The filing includes reconciliations of these non-GAAP measures to their GAAP equivalents within the attached news release, which is furnished but not filed with the SEC.
02—Key points
Key Highlights
- Accenture announced its third-quarter fiscal year 2019 financial results on June 27, 2019.
- The filing includes a press release detailing the company's performance for the quarter ended May 31, 2019.
- Accenture provided non-GAAP financial measures, including free cash flow, to offer further insight into liquidity.
- Revenue changes were reported on a local currency basis to exclude foreign exchange rate fluctuations.
- Adjusted diluted earnings per share, net income, and effective tax rate were presented excluding charges related to tax law changes in fiscal 2018.
- Reconciliations between non-GAAP and GAAP financial measures are available in the furnished press release.
- The press release is furnished as an exhibit and is not considered filed with the SEC.
03—Questions
Frequently Asked Questions
What is the primary purpose of this 8-K filing?
The primary purpose of this 8-K filing is to report Accenture's financial results for the third quarter of fiscal year 2019, which ended on May 31, 2019. It includes a press release that details these results.
What non-GAAP financial measures does Accenture provide in this report?
Accenture provides several non-GAAP measures, including free cash flow (operating cash flow less property and equipment additions), percentage changes in revenues on a local currency basis (to exclude currency fluctuations), and adjusted diluted earnings per share, net income, and effective tax rate, excluding the impact of fiscal 2018 tax law changes.
Why does Accenture provide non-GAAP financial measures?
Accenture's management believes that these non-GAAP measures provide meaningful additional information regarding the company's liquidity and facilitate a more effective comparison of operational performance by excluding factors like foreign currency fluctuations and the impact of past tax law changes. However, these are supplemental and should be reviewed alongside GAAP measures.
Where can I find the GAAP reconciliations for the non-GAAP numbers?
Reconciliations of Accenture's non-GAAP financial measures to the most directly comparable GAAP measures are included within the press release attached as Exhibit 99 to this 8-K filing.
04—Continue