Accenture Earnings: ACN Stock Slips 7% on Outlook, Miss

Accenture (NYSE:ACN) earnings for the professional services company’s fiscal fourth quarter of 2020 have ACN stock falling on Thursday. That’s due to its adjusted earnings per share of $1.70 missing Wall Street’s estimate of $1.73. Its revenue of $10.84 billion also comes in below analysts’ estimate of $10.91 billion.

The outside view of an Accenture (ACN) office in Prague.
Source: josefkubes/Shutterstock.com

Now, let’s see what else went wrong for Accenture in its most recent earnings report.

  • Adjusted per-share earnings are down 2% from $1.74 in the same period of the year prior.
  • Revenue for the quarter is sitting 2% lower than the $11.1 billion from the fiscal fourth quarter of 2019.
  • Operating income of $1.54 billion is a 1.9% decline year-over-year from $1.57 billion.
  • The Accenture earnings report also has net income coming in at $1.31 billion.
  • That’s a 13.9% increase over the company’s net income of $1.15 billion from the same same time last year.

Julie Sweet, CEO of Accenture, said this in the earnings report.

“Accenture’s fiscal 2020 results demonstrate the relevance of our growth strategy, the resilience of our business and our people, our disciplined management of the business, and the power of our relationships with the world’s leading companies and ecosystem partners.”

Accenture also includes guidance for fiscal 2021 in its earnings report. It expects adjusted earnings per share of $7.80 to $8.10. Wall Street’s estimate is for adjusted EPS of $8.13 during the period.

ACN stock was down 7% as of Thursday afternoon.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/09/accenture-earnings-acn-stock-slips-on-outlook-miss/.

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