Q4 2024 Accenture PLC Earnings Call Transcript
Key Points
- Accenture PLC (ACN) reported record bookings of $81 billion for the fiscal year, representing 14% growth in local currency.
- The company delivered revenues of $65 billion for the year, showing 2% growth in local currency.
- Accenture PLC (ACN) expanded its adjusted operating margin by 10 basis points and achieved adjusted EPS growth of 2%.
- The company generated free cash flow of $8.6 billion, allowing it to return $7.8 billion to shareholders.
- Accenture PLC (ACN) has continued to invest significantly in GenAI, with $3 billion in new GenAI bookings and nearly $900 million in revenue for the fiscal year.
- The market environment in FY24 was challenging, impacting overall growth.
- Revenue growth in EMEA was only 2% in local currency, with declines in banking and capital markets.
- General and administrative expenses increased slightly to 6.8% compared to 6.7% in the same quarter last year.
- The company's cash balance decreased to $5 billion from $9 billion at the end of the previous fiscal year.
- Accenture PLC (ACN) expects a modest amount of long-term debt to increase liquidity, which could impact future financial flexibility.
Thank you for standing by. Welcome to Accenture's fourth-quarter fiscal 2024 earnings call. (Operator Instructions) As a reminder, today's conference is being recorded and I will now turn the conference over to our host, Katie O'Conor, Managing Director, Head of Investor Relations. Please go ahead.
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Thank you, operator, and thanks, everyone, for joining us today on our fourth-quarter and full fiscal 2024 earnings announcement. As the operator just mentioned, I'm Katie O'Conor, Managing Director, Head of Investor Relations. On today's call, you'll hear from Julie Sweet, our Chair and Chief Executive Officer; KC McClure, our current Chief Financial Officer; and Angie Park, our incoming Chief Financial Officer.
We hope you've had an opportunity to review the news release we issued a short time ago. Let me quickly outline the agenda for today's call. Julie will begin with an overview of our results. KC will take you through the financial details including the
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