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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) reported a 4% increase in full-year revenue, totaling $6.63 billion, with organic revenue growth of 6%. In Q4, revenue grew 3%, driven largely by its Legal Professionals, Corporates, and Tax & Accounting segments. The company achieved $540 million in annualized operating expense savings through its Change Program, contributing to a significant 146% increase in operating profit for Q4. The board approved a 10% increase in the annual dividend, marking the 30th consecutive year of growth. Looking ahead, TRI maintains its 2023 outlook for organic revenue growth of 5.5% - 6% despite economic challenges.
Thomson Reuters (NYSE, TSX: TRI) has announced that it will release its fourth-quarter and full-year 2022 earnings on February 9, 2023. A conference call and webcast, led by CEO Steve Hasker and CFO Mike Eastwood, is scheduled for 8:30 a.m. EST on the same day. The company provides business information services, focusing on legal, tax, accounting, and compliance sectors, along with global news through Reuters.
Thomson Reuters has completed its acquisition of SurePrep, a leader in 1040 tax automation software, for $500 million in cash. The acquisition enhances Thomson Reuters' offerings by integrating SurePrep's products, used by over 23,000 tax professionals, into its Tax and Accounting division. SurePrep is projected to generate approximately $60 million in revenue in 2022, with expected annual growth exceeding 20%. The deal aligns with Thomson Reuters' strategy for both organic and inorganic growth, promising enhanced productivity tools for tax professionals.
Thomson Reuters (TRI) announced a share sale of London Stock Exchange Group plc (LSEG) to Microsoft, bringing in approximately $1B in gross proceeds. The funds will be used for key growth opportunities and to return value to shareholders. Closing is pending antitrust and regulatory approvals, expected in Q1 2023. Additionally, lock-up provisions on LSEG shares held by Blackstone and Thomson Reuters will be amended, allowing for a reduced selling quota after the transaction completes. The company cautioned that forward-looking statements may be impacted by various risks.
Thomson Reuters is hosting an investor webcast at 2:00 pm EST today to discuss Westlaw Precision. The webcast will showcase insights from CEO Steve Hasker, CFO Mike Eastwood, and legal professionals, detailing the updates of the Westlaw platform, which was launched in September 2022. Interested parties can register for the webcast on the Investor Relations section of the Thomson Reuters website, where an archive will also be available post-event.
Thomson Reuters Corporation (TRI) announced its acquisition of SurePrep, LLC for $500 million in cash. This US-based company specializes in 1040 tax automation software, serving over 23,000 tax professionals. The acquisition is expected to yield a tax benefit with a net present value of $60 million. SurePrep is projected to generate approximately $60 million in revenue for 2022 and grow over 20% annually thereafter. The deal is subject to regulatory approvals and expected to close in the first quarter of 2023.
Thomson Reuters (TSX/NYSE: TRI) will present at the JP Morgan Ultimate Services Conference on November 17, 2022, at 2:15 p.m. EST. The presentation will be led by Steve Hasker, CEO, and Mike Eastwood, CFO, and may contain forward-looking information. A live audio webcast will be accessible in the Investor Relations section on tr.com, with an archive available after the event.
Thomson Reuters is a premier provider of business information services, offering specialized software and tools for professionals across various sectors.
Thomson Reuters (TRI) reported a 3% revenue growth in Q3 2022, totaling $1.574 billion, with organic revenue rising 6%. The 'Big 3' segments—Legal Professionals, Corporates, and Tax & Accounting—contributed to this growth. Adjusted EBITDA increased by 17% to $535 million, boosting margins to 34%. Notably, the company executed an $855 million share buyback under a $2 billion plan. Despite macroeconomic uncertainties, TRI maintains its 2022 guidance, buoyed by robust recurring revenues and a successful launch of Westlaw Precision. CEO Steve Hasker noted a positive momentum in performance.
Thomson Reuters (NYSE, TSX: TRI) will release its third-quarter 2022 earnings on November 1, 2022. A conference call with CEO Steve Hasker and CFO Mike Eastwood will be held at 9:00 a.m. EDT the same day, which may include forward-looking information. Investors can access the webcast through the Investor Relations section of their website. Thomson Reuters provides specialized software and tools for legal, tax, accounting, and compliance professionals, alongside global news services.
Thomson Reuters (TRI) reported a 5% increase in total revenue for Q2 2022, rising to $1,614 million, with organic revenue up 7%. The company raised its full-year revenue guidance from approximately 5.5% to 6.0%. Strong growth was noted in its 'Big 3' segments, with a forecasted revenue increase of 7%. Operating profit surged 24% to $391 million, while adjusted EBITDA rose 12% to $561 million. Despite a diluted loss per share of $(0.24), adjusted EPS improved by 25% to $0.60. The company repurchased $394 million in shares and continues to focus on its Change Program, aiming for significant operational savings.
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