Accenture reports very strong Q2; raises range for full-year revenue growth to 24-26% in local currency

21 Mar 2022 , 06:00 PM

Accenture reported financial results for the second quarter of fiscal 2022, ended Feb. 28, 2022, with revenues of $15.0 billion, an increase of 24% in U.S. dollars and 28% in local currency over the same period last year.

Revenues are $15.0 billion, an increase of 24% in U.S. dollars and 28% in local currency. EPS are $2.54, a 14% increase from $2.23 for the second quarter last year, which included $0.21 in gains on an investment; excluding these gains, EPS are up 25% from adjusted EPS of $2.03 in the second quarter last year. It has updates business outlook for fiscal 2022; raises range for full-year revenue growth to 24-26% in local currency; raises EPS to $10.61 to $10.81; updates operating margin expansion to 10 basis points; raises free cash flow to $8.0 billion to $8.5 billion; and raises cash returned to shareholders to at least $6.5 billion.

Operating income increases 25% to $2.06 billion, with an operating margin of 13.7%. Company declares quarterly cash dividend of $0.97 per share, up 10% from a year ago.

Julie Sweet, Accenture’s Chair & CEO, said, “Our outstanding second-quarter financial performance demonstrates continued strong, broad-based demand across all our markets, services and industries. We continue to take significant market share as clients increasingly turn to Accenture as the partner uniquely positioned to help them navigate today’s accelerating pace of change. Our core strength is the diversity of our business that enables us to digitally transform across the enterprise through the depth and breadth of our services.”

“At the same time, our clients also have access to talent at scale through our nearly 700,000 incredible people who deliver for them every day. The trust we have earned from our clients and partners, our continuous innovation and our ability to consistently attract the best people are directly linked to our commitment to creating 360° value for all our stakeholders – clients, people, partners, shareholders and communities.”

New bookings for the second quarter were a record $19.6 billion, an increase of 22% in U.S. dollars and 26% in local currency from the second quarter last year

On Feb. 15, 2022, a quarterly cash dividend of $0.97 per share was paid to shareholders of record at the close of business on Jan. 13, 2022. These cash dividend payments totaled $617 million, bringing dividend payments for the year to date to $1.23 billion. Accenture plc has declared another quarterly cash dividend of $0.97 per share for shareholders of record at the close of business on April 14, 2022. This dividend, which is payable on May 13, represents a 10% increase over the quarterly dividend rate of $0.88 per share in fiscal 2021.