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Thomson Reuters Corporation (NYSE/TSX: TRI) is a global content and technology leader, delivering trusted intelligence, technology, and human expertise to professionals. With a focus on the financial and risk, legal, tax and accounting, and media markets, Thomson Reuters empowers professionals to make the decisions that matter most, supported by the world's most trusted news organization.
The company is the result of a $17.6 billion merger in 2008 between Canada's Thomson and the UK's Reuters Group. Thomson Reuters' core segments include Legal Professionals, Tax and Accounting, and Corporates, collectively contributing to the majority of its revenue and adjusted EBITDA. The Legal Professionals segment, which generates around 42% of the firm's revenue, offers solutions that enable legal professionals to enhance productivity, manage risk, and drive efficient compliance. Meanwhile, the Tax and Accounting segment, making up about 20-25% of the firm's revenue, provides software and services that assist professionals in managing tax compliance, planning, and financial reporting.
Thomson Reuters has diversified into strategic partnerships and acquisitions to bolster its market presence and expand its service offerings. Recent notable acquisitions include Pagero Group AB, a leader in e-invoicing and indirect tax solutions, and World Business Media Limited, a provider of editorial coverage for the insurance industry. These acquisitions align with Thomson Reuters' strategic vision to offer a comprehensive suite of global indirect tax, reporting, and e-invoicing solutions.
The company's financial condition remains robust, with strong revenue growth, strategic capital allocation, and consistent shareholder returns. In recent years, Thomson Reuters has focused on delivering innovative solutions powered by Generative AI, enhancing its product portfolio, and driving digital transformation across its client base. The firm’s commitment to innovation is evident through launches like AI-Assisted Research on Westlaw Precision and various AI-driven enhancements across its product suite.
Thomson Reuters is listed on the Toronto and New York Stock Exchanges, and its extensive product line reaches a global customer base. The company's revenue streams are well-diversified across its primary segments, ensuring stability and growth potential. The firm's strategic focus on expanding compliance, automation, and digital solutions positions it well to navigate the evolving regulatory and technological landscape.
Thomson Reuters (TRI) has announced plans to voluntarily transfer its U.S. stock exchange listing from the NYSE to the Nasdaq Global Select Market. The transition is scheduled to take place with trading ceasing on NYSE at market close around February 24, 2025, and commencing on Nasdaq around February 25, 2025.
The company's listing on the Toronto Stock Exchange (TSX) will remain unchanged, and the ticker symbol 'TRI' will continue to be used on both exchanges. Thomson Reuters will maintain its position as a global content and technology company, serving professionals across legal, tax, accounting, compliance, government, and media sectors with specialized software, insights, and solutions.
Thomson Reuters (TSX/NYSE: TRI) has announced exchange offers for all validly tendered notes of Thomson Reuters (TRC) for new notes to be issued by TR Finance , its indirect U.S. subsidiary. The new notes will maintain the same interest rates, payment dates, maturity dates, and optional redemption dates as the old notes.
The exchange offers cover five series of notes with aggregate principal amounts ranging from $119,045,000 to $500,000,000, including 3.350% Notes due 2026, 5.850% Notes due 2040, 4.500% Notes due 2043, 5.650% Notes due 2043, and 5.500% Debentures due 2035.
Holders who tender notes before the Early Tender Time (February 25, 2025) will receive $1,000 principal amount of new notes plus a $2.50 cash consent fee. Those tendering after the Early Tender Time but before the Expiration Time (March 17, 2025) will receive $970 principal amount of new notes without the consent fee.
Thomson Reuters (NYSE/TSX: TRI) has announced the launch of its second Corporate Venture Capital Fund, valued at $150 million. This new fund builds upon the success of its first $100 million fund launched in 2021. Operating as Thomson Reuters Ventures, Fund 2 will target Series A investments in early-stage technology companies across Legal Technology, Tax & Accounting, Fintech, Risk Fraud & Compliance, and News & Media markets.
The first fund has already made 23 investments, including Materia, an agentic AI company that was later acquired by Thomson Reuters. The new fund will maintain a focus on financial discipline and companies developing technologies addressing professional challenges, particularly in Gen AI applications. The initiative is part of Thomson Reuters' 'Build, Partner, Buy' strategy, aiming to strengthen its leadership position in professional technology solutions.
Thomson Reuters (TSX/NYSE: TRI) reported strong Q4 and full-year 2024 results, with total company and organic revenues up 7% for the full year and 5% for Q4. The company's 'Big 3' segments (Legal Professionals, Corporates, and Tax & Accounting Professionals) showed organic revenue growth of 8% in Q4.
Q4 highlights include: operating profit increased 29% to $722 million, adjusted EBITDA grew 2% to $718 million, and diluted EPS decreased to $1.30 from $1.49. The company increased its annualized dividend by 10%, marking the 32nd consecutive annual increase.
For 2025, Thomson Reuters anticipates organic revenue growth of 7.0-7.5% and an adjusted EBITDA margin of approximately 39%. The company acquired SafeSend for $600 million in January 2025 to expand tax automation capabilities. The updated 2026 financial framework targets 7.5-8.0% organic revenue growth and 50+ basis points of adjusted EBITDA margin expansion.
Thomson Reuters (TSX/NYSE: TRI) has announced it will release its fourth-quarter and full-year 2024 earnings report on Thursday, February 6, 2025. The company will host a conference call and simultaneous webcast at 8:00 a.m. EST on the same day. The event will be led by Steve Hasker, president and CEO, and Mike Eastwood, CFO, who will discuss the financial results.
Thomson Reuters (NYSE/TSX: TRI) has acquired SafeSend for $600 million in cash. SafeSend is a US-based cloud-native technology provider for tax and accounting professionals that automates the 'last-mile' of tax returns, including assembly, review, taxpayer e-signature, and delivery. The company serves 70% of the top 500 US accounting firms and has 235 employees.
SafeSend is projected to generate approximately $60 million in revenue in 2025 and is expected to grow over 25% annually in the coming years. The acquisition aligns with Thomson Reuters' vision to advance efficiency in tax workflows and will continue to support interoperability with multiple vendors across the tax software ecosystem.
Thomson Reuters (TSX/NYSE: TRI) announced that W. Edmund Clark will complete his 10-year service on the company's Board of Directors at the 2025 Annual General Meeting (AGM). Clark, who has served as a representative of principal shareholder Woodbridge since 2015, chaired the Human Resources Committee and served on the Corporate Governance Committee.
Woodbridge and Thomson Reuters are working to identify two new director candidates to serve as Woodbridge representatives for nomination at the AGM. The announcement includes an early warning disclosure regarding Woodbridge and Thomson Investments 's ownership of Thomson Reuters shares, with TIL beneficially owning 69.7% (313,465,179 shares) and Woodbridge owning 66.8% (300,508,139 shares) of outstanding common shares.
Thomson Reuters (NYSE/TSX: TRI) has been recognized as a Leader in two IDC MarketScape reports for 2024: SaaS and Cloud-Enabled Sales and Use Tax Automation Software for Enterprise, and Value-Added Tax Management Applications. The company's ONESOURCE platform serves over 205 countries and territories, providing comprehensive tax compliance solutions with automated tax return preparation and filing capabilities.
The platform features edge computing for enhanced tax calculations and has recently integrated CoCounsel, a generative AI assistant. Thomson Reuters' subsidiary, Pagero, was also named a Leader in European Compliant e-Invoicing 2024 Vendor Assessment, strengthening the company's position in global tax automation solutions.
Thomson Reuters (TSX/NYSE: TRI) announced testing a custom version of their CoCounsel GenAI assistant built on OpenAI's o1-mini model. The custom model, developed in collaboration with OpenAI, leverages 'chain of thought' reasoning for enhanced analytical capabilities. CoCounsel, which saw a 1,400% increase in users in less than a year, is implementing a multi-model strategy, testing LLMs from various providers including Anthropic's Claude 3.5 and Google's Gemini 1.5 Pro. The company is also training its own models following the acquisition of Safe Sign Technologies and partnering with AWS and Microsoft for infrastructure and integration support.
Thomson Reuters (TSX/NYSE: TRI) announced its participation in the upcoming JP Morgan Ultimate Services Investor Conference. Steve Hasker, president and CEO, and Mike Eastwood, CFO, will deliver a presentation on Thursday, November 14, 2024, at 3:10 p.m. ET.
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