Accenture Narrows FY20 Outlook Range; Boosts Dividend 10% - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Thursday, Accenture Plc (ACN) narrowed its earnings and revenue growth guidance for the full-year 2020 and provided revenue guidance for the fourth quarter.

For fiscal 2020, the company now expects earnings in a range of $7.57 to $7.70 per share on revenue growth of 3.5 to 4.5 percent in local currency.

Previously, the company projected earnings in the range of $7.48 to $7.70 per share on revenue growth of 3 to 6 percent in local currency.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $7.58 per share on revenue growth of 2.4 percent to $44.27 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, Accenture expects revenues to be in the range of $10.6 billion to $11.0 billion, reflecting the company's assumption of a negative 1.0 percent foreign-exchange impact compared with the fourth quarter of fiscal 2019. The Street is looking for revenues of $10.88 billion for the quarter.

Accenture also declared a 10 percent higher quarterly cash dividend of $0.80 per share, payable on August 14, 2020 to shareholders of record at the close of business on July 16, 2020.

As previously disclosed, the company has moved from a semi-annual to a quarterly schedule for dividend payments in the first quarter of fiscal 2020.