Accenture Expects Q3 Revenue of $16.25B-$16.85B Vs $17.01B Est, FY24 Revenue Growth of 1%-3% (Prior 2%-5%) Vs $66.18B Est, Adj EPS of $11.97-$12.20 (Prior $11.97-$12.32) Vs $12.24 Est
Portfolio Pulse from Benzinga Newsdesk
Accenture has adjusted its fiscal 2024 outlook, expecting Q3 revenue of $16.25B-$16.85B, below the $17.01B estimate. The FY24 revenue growth forecast is revised to 1%-3% from 2%-5%, with adjusted EPS expected to be $11.97-$12.20, slightly below the $12.24 estimate. The company anticipates a GAAP operating margin of 14.8% and an adjusted operating margin of 15.5%. GAAP diluted EPS is forecasted to be $11.41-$11.64, and the firm plans to return at least $7.7 billion to shareholders.
March 21, 2024 | 10:49 am
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Accenture lowers its fiscal 2024 revenue and EPS forecasts, with Q3 revenue expected below estimates and FY24 revenue growth adjusted to 1%-3%. Adjusted EPS is also revised to a slightly lower range. The company maintains its commitment to returning at least $7.7 billion to shareholders.
The downward revision in revenue and EPS forecasts for fiscal 2024, especially with Q3 revenue expected to be below analyst estimates, could lead to negative investor sentiment in the short term. However, the company's commitment to returning significant cash to shareholders through dividends and share repurchases may provide some support to the stock price.
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