Summary
Accenture plc (ACN) filed an 8-K on December 17, 2020, to announce its financial results for the first quarter of fiscal year 2021, ending November 30, 2020. The report highlights the company's financial performance and provides key non-GAAP financial measures that management believes offer valuable insights beyond standard GAAP reporting. These include free cash flow, percentage changes in revenues and bookings on a local currency basis, and adjusted diluted earnings per share, excluding investment gains. Investors should review the accompanying news release for detailed reconciliations of these non-GAAP figures to their GAAP equivalents.
Key Highlights
- 1Accenture announced Q1 FY2021 financial results on December 17, 2020.
- 2The filing includes a news release detailing financial performance for the quarter ended November 30, 2020.
- 3Key non-GAAP financial measures are provided for enhanced investor understanding.
- 4Non-GAAP measures include free cash flow, local currency revenue/booking changes, and adjusted EPS excluding investment gains.
- 5Management believes these non-GAAP metrics provide meaningful additional information about the company's liquidity and operational performance.
- 6Reconciliations of non-GAAP to GAAP measures are available in the attached news release.
- 7Exhibit 99 contains the full news release, furnished but not filed with the SEC.
Frequently Asked Questions
The primary purpose of this 8-K filing is to announce Accenture's financial results for the first quarter of fiscal year 2021, which concluded on November 30, 2020, and to furnish the accompanying press release to the SEC.
Accenture provides non-GAAP measures such as free cash flow, revenue and bookings growth in local currency (excluding foreign exchange fluctuations), and diluted earnings per share excluding investment gains. Management believes these measures offer a clearer view of operational performance and liquidity by removing the impact of certain variables like currency exchange rates and non-operational investment gains.
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.
No, Accenture's management views these non-GAAP financial measures as supplemental information and not as a substitute for the financial information prepared in accordance with GAAP. Investors are encouraged to consider both GAAP and non-GAAP measures for a comprehensive understanding.