Accenture Boosts FY21 Outlook; Raises Dividend 10% – Quick Facts
While reporting financial results for the third quarter on Thursday, professional services company Accenture Plc (ACN) raised its earnings and revenue growth outlook for the full-year 2021 and also provided revenue outlook for the fourth quarter.
For fiscal 2021, the company now expects earnings in a range of $9.07 to $9.16 per share and adjusted earnings in a range of $8.71 to $8.80 per share on revenue growth of 10 to 11 percent in local currency.
Previously, the company projected earnings in a range of $8.67 to $8.85 per share and adjusted earnings in a range of $8.32 to $8.50 per share on revenue growth of 6.5 to 8.5 percent in local currency.
The company assume that the foreign-exchange impact on its results in U.S. dollars for 2021 will be positive 3.5% compared with fiscal 2020. The company previously had assumed a positive 3% foreign-exchange impact.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $8.48 per share on revenue growth of 10.9 percent to $49.17 billion for the year. Analysts’ estimates typically exclude special items.
For the fourth quarter, the company projects revenues in the range of $13.1 billion to $13.5 billion, 17% to 21% growth in local currency, reflecting the company’s assumption of a positive 4% foreign-exchange impact over last year. The street is looking for revenues of $12.54 billion for the quarter.
The company said it now continues to expect to return at least $5.8 billion in cash to shareholders through dividends and share repurchases.
Accenture’s Board of Directors has declared a 10% higher quarterly cash dividend of $0.88 per share, payable on August 13, 2021 to shareholders of record at the close of business on July 15, 2021.
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