8-KEarnings & ResultsExhibits & Filings

Accenture plc 8-K Report, Financial Results (Mar 23, 2023)

Filed March 23, 2023For Securities:ACN

Summary

Accenture plc filed an 8-K on March 23, 2023, reporting its financial results for the second quarter of fiscal year 2023, ending February 28, 2023. The report primarily references an attached news release (Exhibit 99) which contains the detailed financial and operational performance for the quarter. Investors should pay close attention to this news release for specific figures, as the 8-K itself largely serves as a notification of the release's publication. The company also highlighted its use of non-GAAP financial measures in the news release, including free cash flow, revenue and bookings changes on a local currency basis, and adjusted financial measures that exclude business optimization costs and an anticipated investment gain. Accenture's management believes these non-GAAP metrics offer valuable insights into the company's operational performance and liquidity by removing the effects of foreign currency fluctuations and specific cost/gain items. Reconciliations to GAAP measures are provided in the news release.

Key Highlights

  • 1Accenture announced its fiscal second quarter 2023 financial results on March 23, 2023.
  • 2The 8-K filing incorporates by reference a news release (Exhibit 99) containing the detailed quarterly results.
  • 3The company provided non-GAAP financial measures, including free cash flow, for enhanced liquidity insights.
  • 4Revenue and bookings percentage changes were presented on a local currency basis to neutralize foreign exchange impacts.
  • 5Adjusted financial measures were disclosed, excluding business optimization costs and an anticipated investment gain.
  • 6Accenture emphasizes that these non-GAAP measures are supplemental and should be considered alongside GAAP financial information.

Frequently Asked Questions

The detailed financial results are available in the news release attached as Exhibit 99 to the 8-K filing dated March 23, 2023. This news release contains the specific figures for revenue, earnings, and other key financial metrics.

Accenture highlights free cash flow, percentage changes in revenues and bookings on a local currency basis, and adjusted financial measures that exclude business optimization costs and an anticipated investment gain. These are presented to provide additional insights into operational performance and liquidity.

Reporting revenue and bookings in local currency is intended to facilitate a more meaningful comparison of performance by excluding the impact of foreign currency exchange rate fluctuations. This allows investors to better assess the underlying business growth trends.

No, Accenture's management states that while these non-GAAP financial measures are useful for evaluation, they are supplemental in nature and should not be considered a substitute for the financial information prepared in accordance with Generally Accepted Accounting Principles (GAAP).