Accenture (ACN) 17 Mar 222022 Q2 Earnings call transcript

Ladies and gentlemen, thank you for standing by, and welcome to Accenture's Second Quarter Fiscal 2022 Earnings. [Operator Instructions] And as a reminder, this conference is being recorded. I would now like to turn the conference over to our host, Ms. Angie Park, Managing Director, Head of Investor Relations. Please go ahead.

thanks, fiscal joining XXXX and our today operator, quarter second earnings you, everyone, us for on Thank announcement.

release will On As Angie the Executive to Officer. time call, Officer; Relations. Chief McClure, and an opportunity We Park, I'm short Julie news you today's ago. Financial Managing Director, and review our operator Head we of Chief just Chair a hear from mentioned, hope issued our had Sweet, KC Investor the you've

before agenda the an third some along fiscal quarter. key outline on income quickly today's results; will call. second KC will with me Let operational quarter balance year through with business the begin XXXX. then will positioning for Julie provides details, for outlook and overview for brief our provide KC sheet, Julie full the metrics statement the and including our a of the take you market update our financial

the a take then your will at We the Julie questions provides call. wrap-up end before of

Some to forth of forward-looking are quarterly those Form from those annual expressed our on not set release discussed results materially this differ and actual and to, such call, and to today's These risks as matters outlook, news in subject on our limited uncertainties business in including and uncertainties including, are XX-Q SEC risks call. unknown Form factors reports XX-K filings. and report but we'll other in known the and on and could discuss cause this

non-GAAP our accenture.com. our Investor or to investors. We the we Relations release certain financial financial of which for provide we in section believe useful reference will our reconciliations appropriate, news information at of GAAP measures, where today, website non-GAAP call During in include measures,

conference always, assumes call. this information to on obligation the As update presented Accenture no

turn me the Julie. to call let over Now

losses unlawful invasion and the like and of by bravery begin the you, people face and deep honoring of the horrific sympathy in Ukrainian life. everyone, would for I concern extending to our you, joining. the of Thank Angie, the thank by incredible Russia over

While are the help these I the can, to more feel in later what capture to we small actions which happening, ways we don't about in call. adequate will words is share taking

the the to XXX,XXX to all you our for dedication thanking and your I by and to Thank putting our who their value them. clients bold help now trust almost will moves our people Turning for in start to and are making us world quarter. work clients create XXX-degree around our stakeholders. transform incredible to

technology value every our and we day clients. create with innovate to partners you ecosystem work thank to more Finally, for our

business and We refers a the margin and bringing revenue on of highlights growth clients business had operating over XX improved year-over-year added what Now to revenue which We almost FY to 'XX. the bookings of record our our XX% we of XX% which in significant HX quarter. $XX margin sell few we local investment with in added from continued contract profitability billion continued bookings through with total all billion, $XXX record that with currency, the our million. grew across and flat or had And in EPS is people. work pricing, $X.X

globally. Ethical and Companies Ethisphere's company World's row We scale the year. people, organizations recognized at sixth for by Capital our XXX year attract on talent by XXth Most demonstrating than scoring the our more in the needed were consecutive ability were top again top Bloomberg for of XX,XXX out We the grew workforce to the clients. Index Our by a in Gender-Equality JUST

results. strong gain With market delivery and particularly than like share, the these exceptional Our we thank to Xx people this recognize completed And another market. more the would underlie quarter, X.X million quarter. hours an incredibly to such training I teams growing that continue

systems functions that clients for them, backed critical to and people to brands to from in our the commitments clients the the shaping experiences do side-by-side running everything best between. and amazing working Our platforms future are with building work by every outstanding know and day, our creating our new

current me the Before X let we handing almost pause that over to did only KC, incredible declared. reflect to It on faced uncertainty. was Then, environment. macro the after days earnings as X the ago years was exactly now, pandemic world

are We potential are in and difficult to Ukraine, events are unfold the which many there all watching scenarios predict.

and the our is close focus communities. our staying of even stronger clients pandemic KC. different, the very needs navigate serving successfully and fulfill you, goals. company, are to and their circumstances Over environment on use We helping emerged this and people, our well-being relevant the X the and will While these same: more an to we from this our evolving strength to same

which bookings quarter. Thank new We today's call. the and extremely $XX you last billion, our exceeded with Julie, expectations of all to set $X.X to than on you, were the with taking time of quarter, join billion thanks record for our record overall our in us results higher almost second previous pleased

very the of year. offerings growth in capabilities the and QX all of business, dimensions market to relevance had a very the strong strong across and our first our double-digit We value our Our results reflect clients. deliver of revenue half which for reinforce

the more our we ongoing the we conflict of it. always will call it guidance, in I know see elements in cover we uncertain increasing information later as full our in are is on based year And the have which key we Ukraine, best detail environment While call. given we today,

quarter. local the top across all year last Revenues let begin QX $X range, by driven $XXX increasing over-delivery few and broad-based summarizing XX industries services with double of over billion nearly digits. million Now industries me above XX% and for end a guided of our by growing markets, all currency, highlights the grew the

was EPS year. last business. QX the of of basis delivered XX% people We And of extend operating with more market, last with points companies. our consistent to over quarter significant investments XX continued in year-to-date our also continued reflecting publicly-traded adjusted reflects position growth and Xx year. leadership EPS expansion the to XX.X% to which estimated of margin be than growth our $X.XX, refers basket And our We in

Finally, to free we shareholders billion billion dividends. and and $X through repurchases of flow returned cash delivered $X.X

have XX attributed to first $X approximately We that, me fiscal transactions in acquisitions, investments primarily year. in invest expect of details. turn to in of the this we acquisitions made of let to to $X.X the the half year. With billion And continue some billion

a a both overall $X.X also were with a record book-to-bill as pleased with were $XX.X consulting bookings of a services high, $XXX strategy with as and a which in billion bookings, clients Outsourcing driven book-to-bill X.X. record by the very a for an of growth We million. of book-to-bill last were billion, $XX.X quarter, record were XX over billion with New X.X. year, over bookings strong and technology were new Consulting QX USD representing XX% at very at well with of bookings X.X. our bookings

services operations at revenues in local our XX% Turning up were were and $XX now increase dollars revenues and local XX% quarter technology dollars currency. and revenues. a XX% digits. U.S. Revenues grew in Taking to look XX% dollars were Consulting local all XX% strong billion, for in and for the in in $X.X billion, and U.S. consulting, currency. closer in quarter XX% very currency. service a up the $X.X dimensions, double strategy U.S. billion, Outsourcing

Services, led Turning growth currency, growth XX% XX% driven & Goods, Platforms, Industrial grew Services by local Europe, to Public in and by geographic revenues growth Travel Consumer & Services and & -- America, our Goods, was Retail local revenue in Software Capital North Markets. in in Consumer Banking In & currency, markets. In Travel double-digit Service. double-digit Retail

and at revenue in Markets, by growth In U.K., Japan, driven double-digit in country Looking perspective, Growth delivered XX% in Goods, Service. Public by a Banking From Capital and the & & double-digit Germany, by was countries. and Travel local Brazil. the currency, double-digit France closer Italy. growth we Consumer Europe Services, Markets led Australia was Retail growth Growth in growth driven Markets

for for for down was and with the with the same Gross quarter for second the consistent $X.X period income quarter statement. year. and XX.X% margin, year. compared last a XX.X% X.X%, last operating the expense quarter X% year. General in quarter reflecting QX to was margin X.X% the compared quarter, was Operating Sales with income expense same administrative marketing last Moving year. second XX.X% billion the consistent was the last

reminder, recognized investment increased EPS and adjusted a we impacts QX which gain impacted following an reflect as these continue, year, rate results. I tax in comparisons The exclude last by Before and our $X.XX.

effective the quarter XX.X% compared cash adjusted with operating Diluted of was from quarter last and last Days were quarter days an the compared adjusted billion, the diluted year. was in outstanding service rate million. for second the with quarter last days the quarter year. for resulting second of and $X $XXX rate an $X.XX Free of activities $X.XX billion, days XX compared quarter to last property for of by share generated year. earnings second were XX.X% of equipment tax per of XX tax EPS additions XX effective net Our in flow $X.X cash

second $X.X XX to to average million in Our to for return of billion our quarter, objective August an cash billion price redeemed was billion cash ongoing per compared the balance X.X $XXX.XX repurchased shares at $X.X at XX. shareholders, share. $X.X February regards with we or at With

XX, of February, billion remaining. had year. share per And $X.XX XX% of of on in to for a total declared $XXX May $X.XX last of authority cash Directors dividend per $X.X As February a a be a our we of XX, quarterly approximately million. last represents over increase XX% we over share cash paid share increase This quarterly repurchase a Also of Board year. paid dividend

halfway we point 'XX, delivered have results. very the at So fiscal strong of

Julie. me back it let turn Now to

KC. you, Thank

Let's begin demand the with environment.

call every recognize technology, and ways move parts enterprise frame, of is Interactive, Intelligence, on across the needs AI breadth Operations, and are and and data compressed transformation, all of digits. time All that bold transformational expertise all speed new Intelligent with need clients taking to required our in growing part and Platform transformation spanning transform in their double transform the of also Industry which enterprise multiple working. as of now accelerated our clear they growth Security priorities, our What Many parts of enterprise Cloud, which markets, business partnerships. the to Services, an is double-digit industries an we demands growth services. management Applied often change experiencing are the are at We X, programs, the of to sheer all Intelligent

development expertise our efficiency our managed and to growth. talent, infrastructure our faster, achieve to improved and application Cloud, digitize Operations capabilities development, strategic transform example, access hard-to-hire to from maintenance faster to Intelligent to due to more our customer enable greater wide enhance security, deep satisfaction, services from that quickly clients For of to range outcomes and security, to higher

strategy strong at function our consulting combine they capabilities the because of anticipate unique cutting-edge and are services future the shape technology. be to and managed Our and industry, and

upskilling the sustainability, pandemic, We looking diversity commitment think XXX-degree believe enhancing on investments, with our focusing unmatched and we with growth building experiencing industries us about the relevant and partners partnering companies snapshot diversity also are all is and when our the to our world's people, for we clients of have the both across who are made navigated focus. create technology, to leadership how will which XXX-degree of partners create across Stepping you our stakeholders life are extraordinary services, we range our see I solutions people, bringing clients back, value to the and a industries, value, resilient. and we and our in now can our we and for of bring with markets, largest ecosystem enterprise. functions, our how together

chemicals are leading to resources, enterprise chemical on sustainable to focus with natural we their In carve and serving a expanding our start solutions. with business automotive industry Let's units out relationship one manufacturer the of better functions.

cloud-based services, new we will access are a working and in which up finance, to this Operations personal care XX%, new year. processes, growth consumer for digital with X This As build a the value, this part all corporation IT in standardized Intelligent In to enable and backbone technology, to large and enhance and we carve-out, in portfolio time bottom of reduce infrastructure, operating data enable error, by flexibility goods processing. ERP costs of will instant a build consolidated compressed over HR provide areas. future transformation cloud, create a more and order This create deliver chain supply more experience flexible and a and new customer reduce just the managed better sell, platforms services and will efficient human to entity line. enterprise will integrated core with multinational an platforms with stronger digital

leading operations, greater consumers. financial agility delight remain to also and will in any to and competitive We streamline cost their benefits environment

business, the same floor In helping the supporting a pilot, helping will using synchronize optimizing time, the will leading At tech, significantly journey. services teams core we're our to new our solutions for to of disturbing financial in acquisition digital learning onboard and manage curve firm, without Airbus workers are digital and its manufacturing employees their of and a engineering aircraft twin our several we develop up clients. In design, transform helping & we high Banking realistic manufacturer operations With of reducing services. and we umlaut, areas also Markets, global digital training shop speed onboarding time production. including I turn are Capital BBVA, a frontline the Now Airbus, of AXXXF. new manufacturing also and

iconic agility opportunities, our Health, expansion, create international proactive an by leveraging data-driven cloud data, its data. faster we'll including to we business time experience data, services, experience Health work becoming productivity, to digital maximizing blended improving capital By insights power this are new personalize costs the and lowering more provide and managed the bridge an enterprise customer evolve our market will and care their growth upskilling of with through to banking greater change. asset by flexibility security make and technology customer XX needs the strategic sales personalized consolidate By With integral analytics, hub, up leader as to units, the services, and on see services. talent and will operational their health costs and with builds that faster Health, leveraging AI and Highmark key over Del accelerate innovation packaged importantly, outcomes. intelligent and the and power operational most with collaborating helping their operation and spans to to digital we automation, of Monte, national XX% we Highmark consumer years, food platforms. we better direct-to-consumer goods part organization In In health clients and strategy and are and reduce with establish commerce fresh and agenda. the market, growth are of a And This strategy BXBXC company, Health opportunities. increase effective provide helping

growth scale and make commerce their in and their driving into e-commerce platforms to We a will transition existing launch create easier it revenue. one to ecosystem new products, significant

to experience We've a and after which XG Stadium. helping be reality their telecommunications the technology enterprise yesterday, booking Accenture emerging are technology at the working people experience early on backing clients of sure to our an Sciences, to read with accelerate soon new the Marvel Life available area organization, will enable In we Metaverse, pharmaceutical with innovator leading strategies metaverse, and to the going please Melbourne's for cores replatforming And patients Merck, accelerate a opportunity a them a development engaging communications shape above, in landscape the Telstra, intangible core deliver helping world. in and our able across all and us parking, examples helping as with initiatives. stadium widens. are leader to our cloud life-changing fan From immersive Metaverse if and during help company, years, deploy augmented seat In are media, they security of robust fans help to to Me We to the match, number our Australia's which experiences value create of to clients clients many on around Meet are growth, will back building we global connectivity and -- in described website. as digital is to therapies this deliver the significant secure which One Metaverse. to building investing the be from a release positions vision, Park, been help of their of the our R&D, we you and our in before, systems the titled, missed in And game. new is of attend own the

more company, life-saving reducing to helping same leveraging our wholesale collaboration Life are diversity new with accountability, the costs. of data increase advances care engineering, At the analytics are which we Sciences, across while IT and insight We including creating Also monitoring, identity through products, cancer to cybersecurity delivery and And also drives health in model development. a around we international innovation, and development and speed. we time, drug feedback and support partnership and our compliance flexible and operating power infrastructure responsive expanding IT in clients... are COVID delivery that their talent vaccines an model product-centric cultivating treatments suite world an will integrated by to cloud, protection, a and upskilling, develop risk of methodologies and data resilience, the towers and

[Technical Difficulty]

I'm sorry?

call The dropped.

the dropped? Has call

think No, going. it's I still

want everyone. just to Sorry we're good. make that I Apologies. about sure, that, confirm

the can If call you hear me, heard good. we We're apparently dropped.

Okay.

to in back go clients put let's So their helping core. we're sustainability our

We helping low-carbon leading decarbonization steelmaking and a technologies. company to steel move employ mining and are

a the implement end-to-end would we company's its Accenture to makes people provide to an humanitarian these actions and colleagues I have technical comment partner like how sites. ambitious mind. me like support company decarbonization our are aid. to what now our Accenture help When briefly among on special, and people come program, as what Ukrainian supporting standardize As will our solution the ask mobilized and

many work for we not work do have or us, who we Ukraine, in particularly While have the operations Poland. people Ukrainians who in

of place are And other Ukraine, operating we border humanitarian family people our the and them knew Ukraine, language refugees, families With are need I are the put who in extended those who services. and organizations border the Ukraine experience remote proud in providing settled. help countries members settlement providing that we decade who we relief a the immediate cash. Ukrainian of refugees helping For get also have have from in initial leaving an for telehealth volunteered would their quickly am support to not-for-profit for to assistance. drive

We to in these are currently donating cash million $X organizations.

addition, program, providing In in giving people our are nearly and have we $X.X employee funding. our million XXX% match donated

from action cybersecurity. sprung women to into of refugees. have Academy build are also their anticipate starting people needs the an Our skills to addition piloting next in the refugees we Accenture for first of Poland, technology In Ukraine

Finally, as in Russia. we've we our discontinuing business shared, are

commitment KC. for working are X,XXX and we We years. thank support Back them to you, the and to to nearly there, our Accenture employees dedication over their want to

Julie. Thanks,

I like are provide and as to business evolving context into Before I amount get significant would our uncertainty. some there's outlook, events rapidly of

Our guidance third economic year include for scope. a disruption or does quarter not assumption escalation and current any the or expansion conflict's full significant of

turn let Now our outlook. me to business

and For billion range fiscal be billion. to quarter $XX.X in the This revenues of the to expect reflects local X an to the FX impact assumes third quarter estimated fiscal third of in 'XX we growth to XX% of currency. will compared of the 'XX, XX% negative about be $XX.XX

For 'XX, the the results will be fiscal have compared continue in weeks, approximately we our few the full dollars to how impact 'XX. last been expect U.S. to fiscal year trending on FX of rates based the over upon negative X%

For inorganic the we to of which XX% be an currency continues local in X%. contribution to fiscal of XX% revenues over our expect full now fiscal assume the to range about 'XX, growth in 'XX,

results. For of our operating XX be year expansion 'XX now point a expect margin, 'XX we XX.X%, fiscal basis fiscal to

This rate to our compares fiscal the adjusted expect We rate annual in of be an to continue tax XX% effective XX.X% to tax in to of effective 'XX. XX%. range

range results. growth we $XX.XX in 'XX earnings adjusted of to full EPS XX% for or XX% now diluted 'XX our share, $XX.XX per fiscal year to to the over fiscal be For expect

to equipment million flow For the to full billion, $XXX of range we $X.X range $X in to flow billion free to fiscal be expect property billion $X.X cash and now and be additions approximately 'XX, of billion. to the $X.X cash be the in operating

ratio flow X.X net strong cash guidance Our to X.X. of reflect cash to flow a free very free income continues to

With least committed questions. we that, let's remain cash as our to at Angie? open expect up substantial of can take shareholders. we billion share returning return and to portion $X.X now a your through that we it Finally, so to dividends repurchases our

[Operator on for Thanks, instructions KC. call? provide would Instructions] Operator, you those the

first comes with Lisa [Operator question MoffettNathanson. Instructions] Our the Ellis from line of

very Julie, or major time. response to on -- guys yes, think you little very are of bit going, deal could or in stuff you? seeing I what seeing some changes Accenture these environment, or you companies with here. to or front see call -- hear doing a in What whole doing with -- about, challenges some like Good much how the sanction Can different lines inflation or you you with the they're chain start global And dropped. enforcement that? meaning are programs the work interest supply impact anything are given of conversations are with corporations, talk you shifts we macroeconomic don't and make the the starting with to some to types

of to the all the Thanks, Lisa. of agility. built Great of think in sense clients question time. talking I because me just the a our experience we're let guess, and with, pandemic start has And I resilience more just

are seeing so overreacting. say priorities reality, that. they're lot environment. reality the calm And to predictions a talk people remaining could is I they very what I'd not right? happen because of as what there crisis And chain, the response you a like had already inflation in are mean already And is instead, inflation, happen macro what is with while focused it's around supply lots call And I what early. we're living of that with about, could before on the very the we're really

seeing that inflation, push and of all -- lot of the industry, higher increases depending price increases, goods, like, being focus of for growth a on input. example, you're in you all on the consumer right, up through and cost, can't even been with for because there's cost the so And

been too saying, I you resilience, make got we early tell. to agriculture pace, instead, on about see so just to to increased much think as executing. right, course, anything, of Supply more And sure could as chain. on and have chain, around potential same are that on, but energy if as focus there's it's like about about we're supply think got prices. we companies scenarios in we're disruption look, as absolutely to Of the digitize that And an we've think we potentially so The we've need and higher, insight. going cost

the were think are are already around that I the on to trends of we this things we of environment pace, so seeing address, more. nature conversations. the the and economic being are that's the even simply the in out And building right focused inflation pandemic, agility coming And premium changing on we going at really

Got it.

Okay.

SG&A And the and It coming expectation. in Can going cost little of I'll for bit the you a lower also at -- about comment Okay. you're up your follow-up, in just base? on then then margin pricing underlying KC, was a Julie but drivers talk are like about inevitable my a up. bit, looked made maybe you. the there, up, end margin the what's margins contract ask It know gross question. looks I being like

Thanks, Sure. Yes. Lisa.

start we in were first me operating our performance let really So with, margin. pleased with

the we've growth, our with XX -- points we on first the was year. had record as driven improved flat And second in quarter. of were to really, expanded by revenue that So we half basis mentioned, bookings. And that pricing the

delivered XX% that in quarter, So including very growth we EPS. pleased profit this the with

And peel bit. a so let just me that let's back --

demand. this in we're to hypergrowth a levels hiring environment at So we're meet where elevated

you same wage the navigating inflation. we're at time, as know, So

time flow pricing, the it's remain our lags P&L, improved some So take that through Lisa, for second did to going pricing, very to on some that we we but compensation in see impact knowing to this focused quarter results. which

people higher levels probably doing even it's our and that last than we're and more I very important our in invest significantly really importantly, at we think so business year.

we're up our talked that So as our acquisition margin in also the step-up spend. in that absorbing about well we've as

that year. for halfway continue that. the growth, basis So with we're mean at stellar We're that to is expansion. margin we'll pleased We Really an year. of back margin half XX% points in would through XX% of year. of to the level XX think expansion EPS growth And the just which in the summary,

question Deutsche line next Our with from of Brian the Keane Bank. comes

questions. you great given additional Eastern Congratulations other vendors? Europe, some demand engineering IT digital had clients one disruption I X seeing first the I results. in service to from the on is, these of are guess looking firms to the

and Bryan. seeing to really We're very clients we're doing business on staying too what It's them. Thanks, early their with focused that. see

other growth And it. rate the the at Xx market. out me that the jumped thing Got is versus

I Accenture Xx recent of think a typically, has been more years. in

can us about that's just why recently here? talk over you and So share happened expansion gains to just the

Yes. but Thanks, right, our into start of sequentially, Prepandemic, shock. major a -- things, did The let's quite much pandemic really, always more I combination they It's a with think, Bryan. we right? just was clients. clients were what saw transformation

I And new sequential as place time, new some saying, we transformation, on put We as to faster. backbones examples saw saw they're, a bunch starting take are frontier. saw you've sales. is like in are our in companies but to do one And what transformation need we that companies they because with manufacturing going the across is created Accenture platforms in taking the you the into kind got different the we was transformation, very meant multiple You which for go We And today able even leapfrog, right? And move saw do entirely to same enterprise digital that help right? that We being you leaders transformation. both got We've who I to agenda, transform the at part kind they're when order and service, emphasize. that think see of into call of we're to we you've growth manufacturing. digital to that online. of we can need business. because is the gave that do coming really trying where the saying right? functions, well HR, compressed able -- being talked a need got doing in where where been industry in a we've Industry not of that to to got what doing And you And of partner investing about marketing sales, enterprise. every about transformation, navigate, decade every of to to who X, lead off. finance for of things We've the that's because and distinctive don't Like in -- right? you

And million -- that years demand. to you the can we've in last clients the in with do quite Accenture representing And of it's over And talked in partner that see a it's level recognizing, numbers of about Like the that. $XXX so X of bookings. record of that you compared really All unique. really enterprise we're moving course this it's has capturing a prepandemic have of can And driving over when growth, you the that our course, in And now. And need every our services, we you're and right? that's the momentum is, years, part industry. the deep that the span enterprise fast, of that happening deep different knowledge of industry right? for knowledge. are the partner Because

with line comes question of Huang next from JPMorgan. Our Tien-Tsin the

here. results Great

questions the slowdown took your in Europe, you on approach I outlook. to wanted your approach is within just of towards ask there's on guidance pandemic? figured it assumptions lot similar your we're know the I'd assume the the Can assuming a onset giving any really we at here. in are Europe of strong clarify guide? And you Just so that macro to

Yes.

Tien-Tsin. thanks, So

cover guidance. what our So in just let assuming we're me

guidance business take in does the I'll So impact into that account to with of cost first the and -- Russia start down. wind our revenue discontinuing and our maybe

broader the it, our Now guidance, we it like risk, we're with respect Tien-Tsin. see calling to

our disruption did -- don't we a see business. during the So the in we always today, significant that same way did we And pandemic. do, we

it's Now it's early, very to difficult still predict. and

or does the or disruption So take any escalation of current guidance account economic our not significant expansion into conflict's scope.

Now are seeing Europe, it business pertains a as in to we not Europe. in significant disruption our

in strong You've very seen And and back guidance as strong very for year, our in growth, a that the continues half reflected assume double-digit bookings to of our including the Europe. revenue growth. well

we approach Great. the understood to just make trust I want Okay. Look, I here. outlook. sure your

deals, larger the we're but just I'm if look your curious how I clients, quick here. larger the $XXX for just replenish? on March what my Just deals from ahead to follow-up, that now, just in thinking does here ability big XX know million, over curious you're looking number. pipeline

Yes.

on good with bookings our feel if for first record quarter So lumpy our can and But continue from the pipeline be I'll we the of and see wants to half just add even bookings comment completed. We quarter-to-quarter. Tien-Tsin, with year. were Julie But in QX obviously, else. the of pipeline, about bookings, to pleased another anything very

feel really about our focus of But we pipeline. you trailing the overall, as many I book-to-bill So know still good do, on too. we, XX-month

the your it Yes. one calling I is, to we'll at last we're And as it, -- only we did update pandemic, like right? it to quarter. which we back really we're too see we've Tien-Tsin, got the want at maybe close question clients, the So right? are every exactly add the early. beginning, to is thing we And doing And what said we is

we the Like optimistic. conservative fairway. be next in, overly So overly And quarter, trying to and we're or down from call update really it we'll just there. go we'll not build

Bank America. Kupferberg comes question from of the Jason of next with Our line

about I bookings, the nicely expectations it's year-to-date, Just above ask how year? side. elevated come much curious the about your know think obviously, should And in? back the consulting they in did half just extremely strong wanted internal book-to-bill X.Xx. at here. we to How was the outsourcing and on I of

So back should expect there in we the some just half? normalization

That bookings I a we in just a expected. and was quarters as And a of consulting in mentioned services did months, Jason, and I outsourcing over-delivery again, as well record would all XX as Bryan, work. to across an at overall our type industries trailing book-to-bill, time. higher -- say all X come we look at broad-based our that bookings than markets,

So we to date as HX. and where our feel we good about head are and our bookings into our we pipeline and positioning

know just Understood. the Europe you the obviously, All distribution have just But Central we I earlier, Poland right. a headcount, us countries which in most headcount remind can meaningful but of picture excluding And then so broader region. within mentioned Okay. have and you Russia? Eastern you the

Romania we've Sure. don't sort would Romania. of delivery got market, X but Poland centers. local and have and big the Poland the We be where

with the question Montreal. line comes Bachman Bank Keith of Our of from next

growth. I to to this focused wanted Julie, to wanted view I'm question of year. this the double-digit not about you. get on And the direct And is I nature of durability your the

model for So to our XXXX goes Accenture. back

XXXX about So some those M&A. of average, double-digit range, Half includes the in by on grew to which Accenture not. XXXX, points, X years were half were

a, and lot b, on a sets M&A; having came And a the differently. of phenomenal you're so companies, and I'm very firm, including need we difficult X think focused things to out this COVID compare, that but including points it and to of year, said, of are lot my I up: just of think really year a investors trying do

things some to year. going fix -- over infrastructure may do the created and -- stressing The the over our trying many years, we're firms So X pull-ins. X next are next IT doing to have

you how So do out with see, double-digit a as look how to to sustain to -- beyond, you growth? wanted your view I XXXX you as that do get and context, Accenture's ability

the you Well, over look long term that's thanks. how that at it because I do. we love

is to is that that so what we focus And is way And it that growth continuing so we right? had growing on, to. are not, a about market we us commitment market, we anchor I think more think that enduring isn't take should than the and we well, we that digit be -- served or it an right? of the is that enduring always sort And We've double very belief about share.

what we important. to so they that's is that really the we know that but only And do today, way very can clients Now anticipate that they stay need tomorrow, right? we we not also close need what

for business every to of also of part a that over business. that next decade would sort and be called So is a At investing as Metaverse where huge example, be we yesterday, talked really the have next WebX the time, Metaverse when, of innovate. get look think waves that for is important when decade. enterprise, transformation be as the a digital that digital for every been will XXXX, cloud. same right? in you actually use We of technologies only to you it's to the the which And of have still example, have at early where of those to the we -- once continuum in workloads we we We the about will the growth. significant XX% that's about grow moved extraordinarily And cloud, transformation now, and been part estimate, are

data AI You that how to the transform. early. you but leading really that piece, use the at figuring When similarly, on to replatforming out of platform, you're and the in saw the we cloud then some where today having gave extraordinarily you're the look SaaS examples

supply in at point development of couple technology cloud-based the manufacturing have you are wake-up in So was very only years, let's the pandemic. Many the been everyone a if that look the stages, technologies still of feels, is do you then the from advanced the right, because have right, -- the really the big Then actual transformation from just view, putting focus early digital take that on and advanced and it's what call and on foundation chain. that But of foundation. last introduced technologies.

still doesn't itself, that's new being so in created. technology still And like of some even the functionality major platforms exist that there's

chain much manufacturing was as decade the accessing, OT many, on, we consider for of as us, many have supply there's which so from move you that to you like overall, transformation. think we've about the have IT because feel the so the as digital who budgets play And that compressed for not so And next big companies course, started as frontier. the a right? it's last a much still been going And we doing and we're

things WebX. of alone the very You're can what's in today, that we already platforming see let early next the like

just understand margin wage want try bit of the for before. made And inflation this you specifically, Okay. I'll comments that year? operating about to my a Great. Very more the made you negatively, follow-up that make influencing operating to comments expansion helpful. is some impacting KC, poignant potential question, and margin

Yes.

discussed terms in what wage it's similar case -- a pretty So of will we've inflation, to really quarter. I last

of again. just kind back it maybe through So goes that

it also wage end So for in us, pyramid. for that's clients relates as industries, wage have to into And obviously, have in the might Consumer and and across the our to also this the increases any by as continue Index at that globe. how this it's going for of skills, And increases vary that experienced all going potentially we're But spill and occurring geography. tight we continue it's at Price and inflation, obviously lower business the to looking we're have to in inflation certain over the market our very see to market. our labor well there

see labor pricing it's quarter, Keith, obviously impact did seeing second record that costs. see the And we're take higher We bookings. so second to what pricing, increases. to flow time, that that it for that our focusing we're see the as but P&L. of some flow relates have the lags impact -- on compensation We our again, to through of And our improved absorb quarter, in is again, which we on the pricing, did going that through some in

which that we did a we I'm with I costs just absorbing inflation, points right, in right? think increased We're growth XX hyper labor has from We've dilution I about about and year. we to growth operating this -- if are the still are with We're investments last you unprecedented but year, right? in want market the that delivering also driving all I'm are an business, We expansion. profitability. add significantly acquisitions on very which and right? where today, absorbing our in are just recruiting, margin all at wage tomorrow, basis step-up And to going happy add what mean increased big navigating,

year a ourselves to that we're ways. where company, really to we as and this market-leading to in things the feel about I good all both are doing continue So position grow for

Ashwin Shirvaikar next comes with Citi. question from Our

M&A with other the factors be Or the of are play? deal no on believe larger Perhaps question. there last X. there congratulations did a and wanted may or start have just recently I just at smaller I might earnings. Or Is I that a quarter quirk you KC, to missed timing? integrating? that is it was Julie, since outlook. and deals M&A

QX. can -- so And we're halfway you and facts yes, of through some state we just acquisitions Ash, closed year. about a the I'll lot have Maybe did in Yes.

we be the control always they We closing, have acquisition less can right, in did You're But QX. close lumpy. timing. can't

spend billion year-to-date. So we've deployed acquisition $X.X of

about make of expect 'XX. to that $X do spend sense. acquisition in we're to deals course, FY billion of only continue going We But

could it so quarter. update next the you But me... $X or be And And we'll billion. minus plus let

you close in growth X capital happening is And the about this just do we're of just network is to absorb. we our a important our also, of And So increasing like priorities. about do it's many France. First. strategic into sort I not Yes. the But to we're lot one could in, do I approach. down. network believe quarter. in will right? of did any and we it's to got take part It's acquisitions we're going is that's really we space, example X,XXX what's to it, manage way timing it that about, we and important I'm to the in allocation. and of We've to a think leading which because only just Accenture we and ones a it in We're rigor to quarter. that move we manage going really AFD.TECH, great say so If And just do excited one the Cloud in trying And of accelerate can great But say, another deals opportunity of which ones I is have did going then important. an how wish discipline. like with as use up people going deals, goes digitization, the we're super we announce, this announced to we

takeoff ask mentioned an with uncertainty. high it asked a ways. to I I incredibly been But I you I This different a your captured sentence -- few wanted unfortunately Can doubt. that. level has in broader you circular and outlook cyclical But when know this No you're well agree is in uncertainty. think But of I And believe probably started, strength of major it. I overcome time versus the different? like transformation since that you move circular is calling challenges? cyclical test see this of Can compressed the the trend question. first

the out All in and come what disruption of to other need rose chain, all than the types agriculture. whether we supply together. crisis the dealing technology prices, this right, things energy bring to for inflation, energy conservation we that roads Look, military combination to due higher the scenarios, of of perhaps ingenuity, more is lead it's with human right, some may which

right? And cost great grow, like so new to you've services managed from solutions technology to new ways that's got You've accelerate to finding ways markets, both to access going improvements. energy and takeout got efficiency come

macro do, think the able you these right, as we're we what about to company trends. help navigate companies going so And that's to be

to And so of technology technology, believe being we apply really critical. be and that the importance it get to able then outcomes going to tangible is

is well. resilient whatever as we through be going through so this, be we'll to believe this And

the Our next from of Surinder Jefferies. question with Thind line comes

globally. ask earlier rates bottom bill out to when a bill I'd in or build you're apprenticeship degrees base the impact you does your to bit of as is like U.S., like just and individuals that it the about or The talent program to clients' question the the like willingness about announcement your something how little can the for using so about Obviously, you expansion first rates more non-X-year it pyramid forth? delivery, of the with accept acquire talk in the ability and

focus that say would on They I question. really on Interesting skills. degrees. focus our don't clients

for trend. a looking what so that's broader And And skills. are the they're

of X a that from to talking reskill. predicted Human understand this be as and about skills talent, skills. consumer of part Resources will we to -- a then you trend, now, need but officers years creator not all fact, Chief And be able be In

should I And that to also base, does if for cost there I full employ the opportunity as you the your enough. think willing guess? cost pay Are skill? though? a able better at them to arbitrage impact clients Fair are well, How about

look about is We at skills. I focus thing, our the you arbitrary it pay wouldn't pay. we it's on our -- And draft the recruiting opportunity. about way if think Even the market-relevant skills.

less. because And It's degree X-year so degree, X-year you're about paid a there isn't got a something versus now skills. you've that

price skills. So a for market there's these

of think arbitrage. labor So wouldn't as I it

that thinking question then trend how current might very change to Obviously, delivery. terms Got events in trying a other But does you been operate country a about model. delivery just in be areas way it's geopolitical big-picture, years, follow-up regions where the and of kind avoiding that generally just to? of last whether may you There's certain the longer-term your being the delivery, talent or much much want it. every regions get concentrated the or Do the you guys are as more global. few of change of global areas? expand perception And to question, in maybe as or about in just everywhere, more

the of be we continue right, our would I is work and to global ability to had when What say flexible. shock, evolve this the pandemic, move time since we

sure the also And so we ability making really our around. talent, that focus dispersed, is agility right the on and have geographically that to move talent kinds but of both

more will have Julie the we for Operator, wrap time call. one and then question,

last from will Sachs. line come with the of Our Goldman question Brian Essex

congratulations to question, the little I focused a follow my supply on wanted up maybe Great. side. echo to on the the I results guess the last quarter. different I angle, for

where that call So it level benefit might, and geographies might ability are to out trends trends better to cost are to or companies hybrid that that that of operating hopefully they would mind, work shift the you call with demand post-pandemic used in Are by out see how -- you in you guess with performed. focus geographies? I specifically, a supply are Julie, certain out by to or where seeing to to in on or they a to of that where -- you notable Do coming looking agnostic Any you see in the So can regard overarching particular they're love there you labor demand? are is world, managing to work obviously, particular geographies? in forces costs? can more era skilling some trends particular meet or pandemic, either skill geography

with it's that what say slightly clients. I'd our time about the talking all your different focus talent And is. than I'm

around X which talent. are big things, the are accessing all Here

at means talent, get accessing it, it be attract able to have to able in So you and to you've to and be retain scale. got

hybrid focus bigger a around environment. does attract work to is the it retain what take So in and

are want you having did knock-on everybody of they so hybrid your the cost And decrease -- in to companies more has and effects real model, where focused that more they estate. office, on used as a

thing if of you're to that's you -- so actual the big about a clients you that then But And people it's been talk in more our and the shows worker, have research there some a how be costs. frontline does having combination, we not focus. that want to attract today, who is about do all

a that's so talent. focus And around huge

And X so let's our managed second And being right? the things. take The really the look is it piece security. second to it's way at just is if our are digitize you is on to faster access, services you talent, driven, the big platforms. One access hard-to-get because use

is security do platforms landscape world, have to XX,XXX that We professionals security incredible. access to who right, kind to assessment And services. threat from talent designing and of the the managed everything today's that in rebuilding with broadening,

And to is take on that what And it, we have. of so does just conversations it through the the and access real are focus access partnerships. including those kinds

sector, How of maybe you resources. projects And discretionary on follow-on Got know to and and particular, regard accelerating prices? the greater for energy the in it. alternative your particular. is with in we've to it What you've with particularly That's historically? investment high I seen in one just super have terms energy in follow-through spend on response that prices, sector? side in oil how seen experience been you correlated, got in historically seen maybe quick What helpful. follow-up have

talking a is about look Yes. just Well, people just with CERAWeek, now. it I a what largest the so of And at at time listen, are lot everyone than world's which at in of rather days like it looking I let's the historically, for think sector. last couple was energy I energy week, spent conference

and the saying, investing Because and energy "Hey, to oil no say, increases a solutions. challenge all, is of fact, ahead In gas, up let major in of industry in exact gas energy now we've in has cost." fact, first on one the to move the to opposite. entire sustainable oil the So despite industry, prices, got

because absolutely an that what innovation of on energy what around during was to week gave continuing sustainable what so solutions. the there well that's decarbonization. is playing how focus the today it fit doing accelerate to and is so management, on that this Ecopetrol And water industry moving I do would announced cost AWS where say how had pandemic we're we're laser now focus and right? we're -- we're very situated. example we in And And We obviously and and with helping

We them grid, to the deep, have help solutions. the clients our their deep for We and major and in on. want as then opportunity in we this well helping expertise as in at enterprise both sustainable as gas sector core really at create a those energy and refinery entire -- see the utilities and oil a that

continued on call people Thanks, again us back shareholders your together. I'm April and much. Investor Thanks, and Great. make you Virtual looking our forward everyone, join Day sure Thursday, for you joining Thank being now. close our to to trust. We're to us, X. incredible and our Please very Analyst everyone. to the to going thank for for

a.m. after Ladies and June through this replay today available Eastern be will XX. conference XX:XX for gentlemen,

replay the participants for may time You AT&T XXXXXXX. may AT&T dial your using today. access and for X-XXX-XXX-XXXX thank International service. conclude does XXX-XXX-XXXX. conferencing any code conference participation at entering our by That access We dialing system and you for

now may You disconnect.