Seeking Alpha

Accenture ticks lower due to light EPS outlook

  • Though Accenture (ACN -1%) beat FQ3 estimates, it now expects FY14 (ends Aug. '14) EPS to be in a range of $4.50-$4.54. That's at the low end of a prior $4.50-$4.62 range, and compares with a $4.53 consensus. FQ4 revenue guidance of $7.45B-$7.7B is in-line with a $7.56B consensus.
  • New bookings totaled $8.8B in FQ3 - $4.3B consulting, $4.5B outsourcing - up from $8.3B a year ago and down from $10.1B in seasonally strong FQ2. FY14 new bookings are now expected to be at the high end of a prior $33B-$36B guidance range.
  • Geographical performance: Americas sales +6% Y/Y vs. +2% in FQ2; EMEA +13% vs. +2%, Asia-Pac (hurt by forex) -1% vs. +7%.
  • Segment performance: Telecom/media/tech +7% vs. flat; financial services +7% vs. +4%, health/public +10% vs. -1%; products +11% vs. +4%; resources +2% vs. -2%.
  • Gross margin +150 bps Q/Q and -110 bps Y/Y to 32.8%. SG&A spend fell to 17.5% of revenue from 17.9% in FQ2 and 18.7% a year ago. $441M was spent to buy back 4.8M shares.
  • FQ3 results, PR
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