Accenture Raises FY23 Adj. EPS Outlook; Boosts Dividend 15% - Update

(RTTNews) - While reporting financial results for the third quarter on Thursday, professional services company Accenture plc (ACN) raised its earnings and adjusted earnings outlook for the full-year 2023, while trimming annual revenue growth forecast. It also provided revenue outlook for the fourth quarter.

For fiscal 2023, the company now expects earnings in a range of $10.94 to $11.05 per share and adjusted earnings in a range of $11.52 to $11.63 per share on revenue growth of 8 to 9 percent in local currency, with foreign-exchange impact of negative 4 percent.

Previously, the company expected earnings in a range of $10.84 to $11.06 per share and adjusted earnings in a range of $11.41 to $11.63 per share on revenue growth of 8 to 10 percent in local currency, with foreign-exchange impact of negative 4.5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $11.60 per share on revenue growth of 4.6 percent to $64.41 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, the company projects revenues in the range of $15.75 billion to $16.35 billion, a 2 to 6 percent growth in local currency, reflecting the company's assumption of a flat foreign-exchange impact compared with the fourth quarter of fiscal 2022. The street is looking for revenues of $16.35 billion for the quarter.

Accenture also declared a 15 percent higher quarterly cash dividend of $1.12 per share, payable on August 15, 2023 to shareholders of record at the close of business on July 13, 2023.

The company said it continues to expect to return at least $7.1 billion in cash to shareholders through dividends and share repurchases in fiscal 2023.

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