Accenture sees negative 0.7% impact from FX on FY24 results

Accenture’s business outlook for fiscal 2024 now assumes that the foreign-exchange impact on its results in U.S. dollars will be negative 0.7% compared with fiscal 2023; the company previously expected the impact to be flat. For fiscal 2024, the company now expects revenue growth to be in the range of 1.5% to 2.5% in local currency, compared to 1% to 3% previously. Accenture continues to expect GAAP operating margin for fiscal 2024 to be 14.8%, an expansion of 110 basis points from fiscal 2023; and adjusted operating margin, which excludes an estimated $450 million for business optimization costs in fiscal 2024 and $1.1 billion in fiscal 2023, to be 15.5%, an expansion of 10 basis points from fiscal 2023. The company now expects both its GAAP and adjusted annual effective tax rate, which excludes the tax impacts of business optimization costs, to be in the range of 23.5% to 24.5%, compared to 22.5% to 24.5% previously.