Accenture Raises FY23 EPS Outlook; Boosts Dividend 15% - Update
(RTTNews) - While reporting financial results for the first quarter of fiscal 2023 on Friday, professional services company Accenture plc (ACN) raised its earnings outlook for the full-year 2023, while maintaining annual revenue growth forecast. It also provided revenue outlook for the second quarter.
For fiscal 2023, the company now expects earnings in a range of $11.20 to $11.52 per share, up from the prior forecast range of $11.09 to $11.41 per share, while continuing to project revenue growth of 8 to 11 percent in local currency, with foreign-exchange impact of negative 5 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $11.36 per share on revenue growth of 4.2 percent to $64.18 billion for the year. Analysts' estimates typically exclude special items.
For the second quarter, the company projects revenues in the range of $15.20 billion to $15.75 billion, a 6 to 10 percent growth in local currency, reflecting the company's assumption of an approximately negative 5 percent foreign-exchange impact. The street is looking for revenues of $15.59 billion for the quarter.
Accenture's Board of Directors has declared a 15 percent higher quarterly cash dividend of $1.12 per share, payable on February 15, 2023 to shareholders of record at the close of business on January 10, 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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