Accenture plc (NYSE:ACN) Q3 2018 Earnings Conference Call - Preliminary Transcript

Jun 28, 2018 • 08:00 am ET


Accenture plc (NYSE:ACN) Q3 2018 Earnings Conference Call - Preliminary Transcript


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Ladies and gentlemen, we'd like to thank you for standing by, and welcome to Accenture's Third Quarter Fiscal 2018 Earnings Call. At this time, all participants are in a listen-only mode. Later, we'll conduct a question-and-answer session with instructions being given at that time. (Operator Instructions) And as a reminder, today's conference call will be recorded.

I would now like to turn the conference over to our host and facilitator as well as our Managing Director, Head of Investor Relations, Angie Park. Please go ahead.

Angie Park

Thank you, Steve, and thanks, everyone, for joining us today on our third quarter fiscal 2018 earnings announcement. As the operator just mentioned, I'm Angie Park, Managing Director, Head of Investor Relations.

With me today are Pierre Nanterme, our Chairman and Chief Executive Officer; and David Rowland, our 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. Pierre will begin with an overview of our results. David will take you through the financial details, including the income statement and balance sheet for the third quarter. Pierre will then provide a brief update on our market positioning before David provides our business outlook for the fourth quarter and full fiscal year 2018. We will then take your questions before Pierre provides a wrap up at the end of the call.

As a reminder, when we discuss revenues during today's call, we're talking about revenues before reimbursements or net revenues. Some of the matters we'll discuss on this call, including our business outlook are forward-looking and as such, are subject to known and unknown risks and uncertainties, including but not limited to those factors set forth in today's news release and discussed in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other SEC filings. These risks and uncertainties could cause actual results to differ materially from those expressed on this call.

During our call today, we will reference certain non-GAAP financial measures which we believe provide useful information for investors. We include reconciliations of non-GAAP financial measures where appropriate to GAAP in our news release or in the Investor Relations section of our website at As always, Accenture assumes no obligation to update the information presented on this conference call.

Now, let me turn the call over to Pierre.

Pierre Nanterme

Thank you, Angie, and thanks, everyone, for joining us today. Accenture had a truly outstanding third quarter. We delivered excellent results from new bookings and revenues to operating margin, EPS and cash flow, and we gained significant market share once again.

The durability of our performance demonstrates the relevance of our growth strategy and our ability to continue delivering strong results and returns for our shareholders, while at the same time investing significantly in new growth opportunities to strengthen our position for the long-term.

Here are a few highlights from the quarter. We delivered record new bookings of $11.7 billion. We grew revenues