Thomson Reuters Corporation - TRI STOCK NEWS

Thomson Reuters (TRI) has announced a two-year Change Program aimed at transitioning from a holding company to an operating company and from a content provider to a content-driven technology company. For the fourth quarter, IFRS revenues rose 2%, and organic revenues increased by 5%. Notably, IFRS operating profit surged 343%, while adjusted EBITDA was up 33%, reaching a margin of 32.5%. The company projects organic revenue growth of 5-6% in 2023, with adjusted EBITDA margins of 38-40%, and free cash flow between $1.8 billion and $2.0 billion. A $0.10 increase in its annualized dividend was also announced.

Thomson Reuters (TSX/NYSE: TRI) has finalized the sale of Refinitiv to London Stock Exchange Group (LSEG) in an all-share transaction valued at approximately $9.8 billion. Following this sale, Thomson Reuters holds 82.5 million LSEG shares. A lock-up agreement restricts sales of these shares until January 29, 2025, with options to sell one-third of the shares in subsequent years. The transaction is expected to be tax-deferred, with a $700 million tax obligation due upon closing. Additionally, Reuters News maintains a 30-year agreement with Refinitiv, running to 2048.

Thomson Reuters (TRI) will release its fourth-quarter and full-year 2020 earnings on February 23, 2021.

The company's CEO Steve Hasker and CFO Mike Eastwood will host a conference call and webcast on the same day at 8:30 a.m. EST. This event will potentially include forward-looking information.

Investors can register for the webcast via the Investor Relations section of the Thomson Reuters website, with an archive available post-presentation.

Thomson Reuters Corporation (TSX/NYSE: TRI) has received approval from the Toronto Stock Exchange for the renewal of its normal course issuer bid (NCIB) to repurchase up to 5 million common shares from January 4, 2021, to January 3, 2022. This repurchase aims to maintain roughly 500 million shares outstanding, countering dilution from dividend reinvestment and equity plans. The company previously repurchased about 6.9 million shares at an average price of US$72.61, costing approximately US$500 million. Future purchases will rely on market conditions and share price.

Thomson Reuters (TRI) reported strong third-quarter results for 2020, with IFRS revenues rising 2% to $1,443 million and an operating profit increase of 21% to $318 million. Adjusted EBITDA surged 42%, showcasing improved efficiency with margins rising to 34%. The company anticipates full-year adjusted EBITDA margin and free cash flow enhancements. The 'Big 3' segments saw organic revenues grow by 5%, though Global Print revenues declined by 7%. The outlook for 2020 has been upgraded across multiple metrics, despite potential economic challenges from COVID-19.

Thomson Reuters (TRI) will release its third-quarter 2020 earnings on November 3, 2020, followed by a conference call at 8:30 a.m. EST. The call will be hosted by Steve Hasker, CEO, and Mike Eastwood, CFO, who may discuss forward-looking information. Access to the webcast is available on the Investor Relations section of the Thomson Reuters website. An archive of the call will be accessible after the presentation. Thomson Reuters continues to provide essential business information services, reflecting its strong position in the market.

Thomson Reuters (TSX/NYSE: TRI) announced the appointments of Deanna Oppenheimer and Simon Paris to its Board of Directors, effective November 11, 2020. Oppenheimer brings extensive experience from Barclays and Washington Mutual, while Paris is the current CEO of Finastra. Chairman David Thomson emphasized their roles in reshaping product delivery and technology as part of the company's strategic growth. The appointments aim to enhance leadership and drive innovation within Thomson Reuters.

Thomson Reuters (TSX/NYSE: TRI) reported Q2 2020 results, meeting or exceeding financial guidance. Revenues decreased 1% to $1,405 million. Operating profit fell 18%, while diluted EPS dropped 31% to $0.25. However, adjusted EBITDA rose 35% to $479 million, with an adjusted EBITDA margin of 34.1%. Notably, cash flow from operations surged to $422 million, up 288%. The company raised its free cash flow outlook to $1.0-$1.1 billion and expects Q3 revenue growth of 1-2%. Despite challenges in Global Print and Reuters News, recurring revenues showed resilience, growing 4%.

Thomson Reuters (NYSE, TSX: TRI) will release its second-quarter 2020 earnings on August 5, 2020. A conference call and webcast, hosted by Steve Hasker and Mike Eastwood, will take place at 8:30 a.m. EDT on the same day. The call will likely include forward-looking information. Stakeholders can access the webcast through the Investor Relations section of the company's website, with a recorded archive available afterward.