01—Abstract
Summary
Summary of the 8-K filed March 18, 2021. Cited figures are marked; the original filing is the authoritative source.
Accenture plc (ACN) filed an 8-K on March 18, 2021, to report its financial results for the second quarter of fiscal year 2021, ending February 28, 2021.
The filing primarily references a press release containing these results and details the non-GAAP financial measures the company utilizes. These measures include free cash flow, percentage changes in revenue and bookings on a local currency basis, and adjustments to diluted earnings per share, effective tax rate, income before income taxes, income tax expense, and net income to exclude gains from an investment. Investors should note that while Accenture's management believes these non-GAAP measures offer valuable insights into operational performance and liquidity, they are supplemental and should be considered alongside the company's GAAP financial statements.
The press release, attached as Exhibit 99, provides reconciliations between the non-GAAP measures and their GAAP equivalents. The core purpose of this 8-K is to officially incorporate this earnings announcement into the company's public filings.
02—Key points
Key Highlights
- Accenture announced its Q2 FY2021 financial results on March 18, 2021.
- The filing includes a press release (Exhibit 99) detailing the company's financial performance for the quarter ended February 28, 2021.
- Accenture utilizes several non-GAAP financial measures for reporting, including free cash flow, local currency revenue and booking changes, and adjusted EPS.
- The company's management believes these non-GAAP metrics provide meaningful insights into liquidity and operational performance.
- Reconciliations of non-GAAP to GAAP financial measures are available in the provided press release.
- The reported information is furnished, not filed, meaning it is for informational purposes and not subject to the same legal liabilities as filed information.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K filing?
The main purpose of this 8-K filing is to officially report Accenture's financial results for the second quarter of fiscal year 2021, which ended on February 28, 2021, by incorporating the press release containing these results.
What non-GAAP financial measures does Accenture highlight in this report?
Accenture highlights free cash flow, percentage changes in revenues and bookings on a local currency basis, and adjusted diluted earnings per share, effective tax rate, income before income taxes, income tax expense, and net income (excluding investment gains).
Where can I find the full financial results and GAAP reconciliations?
The full financial results and reconciliations of non-GAAP measures to their most comparable GAAP measures are located in the press release attached as Exhibit 99 to this 8-K filing.
Are the non-GAAP financial measures presented in this report considered official GAAP financials?
No, the non-GAAP financial measures are considered supplemental information. While management believes they are useful, they should be viewed as a supplement to, and not a substitute for, the financial information prepared in accordance with Generally Accepted Accounting Principles (GAAP).
04—Continue