Accenture (ACN) Tops Q3 EPS by 1c; Lowers Midpoint of FY13 EPS Outlook
Accenture (NYSE: ACN) reported Q3 EPS of $1.14, $0.01 better than the analyst estimate of $1.13. Net evenue for the quarter came in at $7.2 billion versus the consensus estimate of $7.42 billion. Total revenue for the quarter were $7.71 billion.
New bookings are $8.3 billion, with consulting bookings of $3.9 billion and outsourcing bookings of $4.4 billion.
- Consulting new bookings were $3.9 billion, or 46 percent of total new bookings.
- Outsourcing new bookings were $4.4 billion, or 54 percent of total new bookings.
Consulting revs fell 2 percent to $3.9 billion while outsourcing revs rose 4 percent to $3.3 billion.
Gross margin widened 80 basis points to 33.9 percent. SG&A costs increased 40 basis points as a part of revs to $1.35 billion.
"Our third-quarter results were solid overall, although consulting revenues were below our expectations," commented CEO Pierre Nanterme. "We delivered very good profitability, with operating margin expansion and EPS growth reflecting the disciplined management of our business. Quarterly new bookings of $8.3 billion brought us to nearly $25 billion for the first three quarters of the year, which positions us well for the future and demonstrates the relevance of our services and capabilities to the needs of our clients."
Sees FY13 EPS of $4.90 - $4.94, versus prior guidance of $4.89 - $4.97.
Accenture sees Q4 2013 revenue of $6.7 - $7.0 billion, versus the consensus of $7.36 billion.
For earnings history and earnings-related data on Accenture (ACN) click here.