Accenture Trims FY22 EPS Outlook; Raises Dividend 10% - Update

(RTTNews) - While reporting financial results for the third quarter on Thursday, professional services company Accenture Plc (ACN) trims its earnings outlook for the full-year 2022 and also provided revenue outlook for the fourth quarter.

For fiscal 2022, the company now expects earnings in a range of $10.61 to $10.70 per share on revenue growth of 25.5 to 26.5 percent in local currency.

Previously, the company projected earnings in a range of $10.61 to $10.81 per share on revenue growth of 24 to 26 percent in local currency.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $10.28 per share on revenue growth of 31.10 percent to $58.77 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, the company projects revenues in the range of $15.0 billion to $15.5 billion, 20% to 24% growth in local currency, reflecting the company's assumption of a negative 8% foreign-exchange impact compared with the fourth quarter of fiscal 2021. The street is looking for revenues of $14.83 billion for the quarter.

The company said it still expects to return at least $6.5 billion in cash to shareholders through dividends and share repurchases.

Accenture's Board of Directors has declared a 10% higher quarterly cash dividend of $0.97 per share, payable on August 15, 2022 to shareholders of record at the close of business on July 14, 2022.