01—Abstract
Summary
Summary of the 8-K filed December 17, 2020. Cited figures are marked; the original filing is the authoritative source.
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.
02—Key points
Key Highlights
- Accenture announced Q1 FY2021 financial results on December 17, 2020.
- The filing includes a news release detailing financial performance for the quarter ended November 30, 2020.
- Key non-GAAP financial measures are provided for enhanced investor understanding.
- Non-GAAP measures include free cash flow, local currency revenue/booking changes, and adjusted EPS excluding investment gains.
- Management believes these non-GAAP metrics provide meaningful additional information about the company's liquidity and operational performance.
- Reconciliations of non-GAAP to GAAP measures are available in the attached news release.
- Exhibit 99 contains the full news release, furnished but not 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 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.
What non-GAAP financial measures does Accenture provide, and why?
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.
Where can I find the detailed financial results and GAAP reconciliations?
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.
Are the non-GAAP financial measures presented in this filing considered replacements for GAAP measures?
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.
04—Continue