Seeking Alpha

Accenture guidance subdued, $5B added to buyback plan

  • Accenture (ACN) expects FQ1 revenue of $7B-$7.3B, below a $7.39B consensus. After factoring an expected 100bps forex impact, FY14 (ends Aug. '14) revenue is expected to grow 1%-5% vs. a 4.4% consensus.
  • FY14 EPS is expected to be in a range of $4.42-$4.54 in-line with a $4.49 consensus. Free cash flow is expected to total $3.2B-$3.5B, up from FY13's $2.93B. Bookings are expected to total $32B-$35B vs. $33.3B in FY13.
  • Bookings fell 9% Y/Y in FQ4 to $8.4B. Consulting and outsourcing respectively made up 46% and 54% of bookings, unchanged from a year ago.
  • FQ4 Americas revenue +8% Y/Y to $3.19B, EMEA +2% to $2.64B, Asia-Pac -7% to $1.06B.
  • Teleco,/media/tech revenue flat Y/Y, financial services +3%, health/public service  +12%, products +6%, resources -1%.
  • $1.1B was spent on buybacks in FQ4. $5B has been added to the company's buyback plan, raising its total available authorization to $7B (good for buying back 11.5% of shares at current levels).
  • ACN -0.9% AH. CC at 4:30PM ET. FQ4 results, PR.
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