Thomson Reuters (TRI) Tops Q3 EPS by 6c

November 1, 2016 6:33 AM EDT
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Thomson Reuters (NYSE: TRI) reported Q3 EPS of $0.54, $0.06 better than the analyst estimate of $0.48. Revenue for the quarter came in at $2.74 billion versus the consensus estimate of $2.75 billion.

Business Outlook (Before Currency)

Thomson Reuters updated its full-year business outlook for 2016 to reflect the planned fourth-quarter charge discussed earlier in this news release.

The company's 2016 Outlook assumes constant currency rates compared to 2015 and all metrics below (except for free cash flow) exclude the IP & Science business, which was classified as a discontinued operation for 2016 reporting purposes through the closing date. The 2016 Outlook is based on the expected performance of the company's remaining businesses and does not factor in the impact of any other acquisitions or divestitures that may occur during the year.

For the full-year 2016, the company expects:

  • Low single-digit revenue growth
    • 2% to 3% revenue growth excluding Financial & Risk's recoveries revenues, which are low margin revenues and are expected to decline as partners move to direct billing with their customers
  • Adjusted EBITDA margin to range between 25.0% to 26.0% - Including planned charge
    • Adjusted EBITDA margin to range between 27.3% and 28.3% - Excluding planned charge
  • Underlying operating profit margin to range between 16.0% to 17.0% - Including planned charge
    • Underlying operating profit margin to range between 18.4% and 19.4% - Excluding planned charge
  • Free cash flow to range between $1.7 billion and $1.9 billion in 2016 (most of cash impact from planned charge to be incurred in 2017)

For earnings history and earnings-related data on Thomson Reuters (TRI) click here.

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