Accenture(US:ACN)2024-09-26 10:43Financial Performance - New bookings for Q4 fiscal 2024 were $20.1 billion, a 21% increase in U.S. dollars and 24% in local currency compared to Q4 fiscal 2023[9]. - Full-year new bookings reached a record $81.2 billion, reflecting a 13% increase in U.S. dollars and 14% in local currency over fiscal 2023[15]. - Q4 revenues were $16.4 billion, up 3% in U.S. dollars and 5% in local currency compared to Q4 fiscal 2023[3]. - Full-year revenues totaled $64.9 billion, a 1% increase in U.S. dollars and 2% in local currency compared to fiscal 2023[4]. - Q4 GAAP EPS was $2.66, a 24% increase from $2.15 in Q4 fiscal 2023; adjusted EPS was $2.79, a 3% increase from $2.71[6]. - Full-year GAAP EPS was $11.44, a 6% increase from $10.77 in fiscal 2023; adjusted EPS was $11.95, a 2% increase from $11.67[12]. - Free cash flow for Q4 was $3.2 billion, and for the full year, it was $8.6 billion[1]. Future Guidance - The company expects revenue growth of 3% to 6% in local currency for fiscal 2025, with GAAP EPS guidance of $12.55 to $12.91[1]. - For Q1 fiscal 2025, Accenture expects revenues between $16.85 billion and $17.45 billion, reflecting a 2% to 6% increase in local currency[21]. - The full fiscal year 2025 revenue growth is projected at 3% to 6% in local currency, with a GAAP operating margin expected to be between 15.6% and 15.8%[22]. - GAAP diluted EPS for fiscal 2025 is anticipated to be between $12.55 and $12.91, representing a 10% to 13% increase over fiscal 2024[22]. - Operating cash flow for fiscal 2025 is expected to be between $9.4 billion and $10.1 billion, with free cash flow projected at $8.8 billion to $9.5 billion[23]. Shareholder Returns - Accenture returned $7.8 billion to shareholders in fiscal 2024, including $4.5 billion in share repurchases and $3.2 billion in cash dividends[18]. - A quarterly cash dividend of $1.29 per share was paid, totaling $808 million, bringing the annual dividend payments to $3.24 billion, up from $2.83 billion in fiscal 2023[19]. - Accenture repurchased 2.1 million shares for $628 million in Q4 fiscal 2024, with total repurchases for the year reaching 14.0 million shares and $4.5 billion[20]. - Accenture plans to return at least $8.3 billion in cash to shareholders through dividends and share repurchases in fiscal 2025[23]. - The company has approved an additional $4.0 billion in share repurchase authority, bringing the total to approximately $6.7 billion[20]. Revenue Breakdown - Consulting revenues for fiscal 2024 were $33.2 billion, a decrease of 1% in both U.S. dollars and local currency; Managed Services revenues were $31.7 billion, an increase of 4% in U.S. dollars and 5% in local currency[12]. - North America revenues increased by 5% to $7,966,691, while Growth Markets revenues decreased by 3% to $2,800,365[34]. - The Health & Public Service industry group saw a 10% revenue increase to $3,613,865, while Financial Services experienced a 5% decline to $2,872,964[34]. - Managed Services revenues for the three months ended August 31, 2024, were $8,145,424, a 5% increase from $7,788,352 in the prior year[34]. Operating Performance - Operating income for the three months ended August 31, 2024, was $2,353,668, with an operating margin of 14.3%, up from $1,912,920 and 12.0% in the prior year[37]. - The company reported a total operating income of $9,595,847 for the year ended August 31, 2024, reflecting a 9% increase from $8,809,889 in the previous year[38]. - Total operating income for the year ended August 31, 2024, was $10,034,287, reflecting a 12.8% increase from $8,809,889 in 2023[41]. - North America generated $5,020,538 in operating income for the year ended August 31, 2024, up from $4,473,701 in 2023, maintaining an operating margin of 16%[41]. - The company reported an operating margin of 15.5% for the year ended August 31, 2024, up from 15.4% in 2023[44]. Income and Tax - Net income for the three months ended August 31, 2024, was $1,718,666, compared to $1,408,212 for the same period in 2023, representing a year-over-year increase of approximately 22%[46]. - Net income for the year ended August 31, 2024, was $7,746,287, an increase from $7,003,530 in 2023[44]. - The effective tax rate for the year ended August 31, 2024, was 23.6%, compared to 23.4% in 2023[44]. - Accenture's GAAP annual effective tax rate is expected to be in the range of 22.5% to 24.5% for fiscal 2025[22]. Cash Flow and Assets - Cash and cash equivalents decreased to $5,004,469 as of August 31, 2024, from $9,045,032 in 2023[45]. - Total assets increased to $55,932,363 as of August 31, 2024, compared to $51,245,305 in 2023[45]. - Total current liabilities increased to $18,976,127 as of August 31, 2024, from $18,009,038 in 2023[45]. - The company’s goodwill increased significantly to $21,120,179 as of August 31, 2024, from $15,573,003 in 2023[45]. - Net cash provided by operating activities for the year ended August 31, 2024, was $9,131,027, down from $9,524,268 in 2023, indicating a decrease of about 4%[46]. - The company reported a net cash used in investing activities of $(7,061,818) for the year ended August 31, 2024, compared to $(2,622,470) in 2023, reflecting a significant increase in investment outflows[46]. - Cash dividends paid increased to $(3,241,479) for the year ended August 31, 2024, from $(2,827,394) in 2023, marking an increase of approximately 15%[46]. - The company experienced a net decrease in cash and cash equivalents of $(4,040,563) for the year ended August 31, 2024, compared to an increase of $1,155,199 in 2023[46]. Other Financial Metrics - Share-based compensation expense rose to $1,941,590 for the year ended August 31, 2024, compared to $1,913,051 in 2023, reflecting a slight increase[46]. - Proceeds from the issuance of ordinary shares were $1,418,131 for the year ended August 31, 2024, down from $1,501,069 in 2023, indicating a decrease of about 6%[46]. - The company incurred $(671,246) in net repayments of debt for the year ended August 31, 2024, compared to a net increase of $827,787 in 2023[46].