Thomson Reuters demonstrated solid revenue growth and strategic advancements in AI investment and product innovation, particularly in key segments. However, these positives are tempered by declines in print revenue and lower adjusted EBITDA margins due to ongoing investments and strategic divestitures.

Company Guidance

During the Thomson Reuters Q3 2024 earnings call, the executives provided guidance that included a modest increase in the full-year organic revenue growth outlook to approximately 7%, with the Big 3 segments expected to grow around 8.5%. Key products such as Practical Law, Confirmation, Pagero, and Indirect Tax experienced double-digit growth, while the company's AI investments are projected to run at more than $200 million annually. For the third quarter, organic revenue rose 7%, with the Legal Professionals segment up 7%, Corporates up 10%, and Tax & Accounting also up 10%. Reuters News saw an 8% increase, partly due to AI-related content licensing. The company expects $10 billion in capital capacity through 2027, with the potential for further strategic acquisitions. Adjusted EBITDA fell 4% to $609 million, reflecting a 430 basis point margin decline to 35.3%, due to continued investment in organic and inorganic growth initiatives.

Strong Organic Revenue Growth

Total company organic revenues rose 7% with the Big 3 segments growing by 9%. Full-year 2024 organic revenue growth outlook increased to approximately 7%, including approximately 8.5% for the Big 3 segments.

Generative AI Investment and Progress

Thomson Reuters' investments in AI are now over $200 million annually. Key achievements include the launch of CoCounsel 2.0 and acquisitions of Safe Sign Technologies and Materia to enhance AI capabilities.

Growth in Key Segments and Products

Double-digit growth from Practical Law, Confirmation, Pagero, Indirect Tax, and international businesses. Tax & Accounting organic revenues grew 10%, and Reuters News organic revenues rose 8%.

Capital Capacity and Shareholder Value

Estimate of $10 billion of capital capacity through 2027, up from $8 billion through 2026. Plans for additional inorganic opportunities to enhance shareholder value.

---

Thomson Reuters (TSE:TRI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TSE:TRI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 08, 2018	2018 (Q2)	- / 0.24	0.825	-70.30% (-0.58)	―	―
Nov 06, 2018	2018 (Q3)	- / 0.16	0.966	-83.54% (-0.81)	―	―
Feb 26, 2019	2018 (Q4)	- / 0.26	0.833	-68.31% (-0.57)	―	―
May 08, 2019	2019 (Q1)	- / 0.48	0.394	23.10% (+0.09)	―	―
Aug 01, 2019	2019 (Q2)	- / 0.38	0.245	56.33% (+0.14)	―	―
Oct 31, 2019	2019 (Q3)	- / 0.35	0.159	123.27% (+0.20)	―	―
Feb 25, 2020	2019 (Q4)	- / 0.49	0.264	86.36% (+0.23)	―	―
May 05, 2020	2020 (Q1)	- / 0.68	0.485	39.18% (+0.19)	―	―
Aug 05, 2020	2020 (Q2)	- / 0.58	0.383	52.22% (+0.20)	―	―
Nov 03, 2020	2020 (Q3)	- / 0.51	0.355	43.94% (+0.16)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

---

TSE:TRI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 05, 2024	C$228.67	C$236.07	+3.24%
Aug 01, 2024	C$222.27	C$219.03	-1.46%
May 02, 2024	C$206.37	C$220.54	+6.87%
Feb 08, 2024	C$198.35	C$206.87	+4.29%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

---