01—Abstract
Summary
Summary of the 8-K filed June 25, 2020. Cited figures are marked; the original filing is the authoritative source.
Accenture plc (ACN) filed an 8-K on June 25, 2020, to report its third-quarter fiscal year 2020 financial results, which concluded on May 31, 2020.
The filing primarily consists of a furnished news release detailing these results. Investors should note that Accenture utilizes and discloses certain non-GAAP financial measures, including free cash flow and percentage changes in revenues and bookings on a local currency basis, to provide additional insights into the company's performance and liquidity. The company management believes these non-GAAP metrics offer a more meaningful comparison of operational trends by excluding foreign currency fluctuations and capital expenditures' impact on cash flow.
02—Key points
Key Highlights
- Accenture announced its Q3 fiscal 2020 financial results via a news release filed on June 25, 2020.
- The reporting period for these results was the quarter ending May 31, 2020.
- The company provided non-GAAP financial measures, including free cash flow.
- Free cash flow is defined as operating cash flow net of property and equipment additions.
- Accenture also reported percentage changes in revenues and bookings on a local currency basis.
- These local currency figures exclude the impact of foreign currency exchange rate fluctuations.
- Reconciliations between GAAP and non-GAAP measures are available in the furnished news release.
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 announce Accenture's financial results for its third quarter of fiscal year 2020, which ended on May 31, 2020, through an attached news release.
What non-GAAP financial measures does Accenture provide?
Accenture provides two key non-GAAP financial measures: free cash flow (operating cash flow minus capital expenditures) and percentage changes in revenues and bookings on a local currency basis, which exclude the impact of foreign exchange rate fluctuations.
Why does Accenture report non-GAAP financial information?
Accenture's management believes these non-GAAP measures provide meaningful additional information about the company's liquidity (free cash flow) and facilitates a clearer comparison of revenue and booking trends by removing the volatility of foreign currency exchange rates.
Where can I find the detailed financial results and reconciliations?
The detailed financial results and reconciliations of non-GAAP to GAAP measures are included in the news release furnished as Exhibit 99 to this 8-K filing.
04—Continue