Thomson Reuters (TRI) Misses Q1 EPS by 1c

Thomson Reuters (NYSE: TRI) reported Q1 EPS of $0.28, $0.01 worse than the analyst estimate of $0.29. Revenue for the quarter came in at $1.38 billion versus the consensus estimate of $1.42 billion.

For the full-year 2018, the company expects:

• Low single-digit revenue growth (excludes 2018 payment to Reuters News from F&R following the closing of the transaction)
• Adjusted EBITDA to range between $1.2 billion - $1.3 billion (including the costs referred to below)
• Total Corporate costs between $500 million and $600 million (including stranded costs and investments to reposition the company following the separation of the businesses)
• Depreciation and Amortization of computer software between $500 million and $525 million
• Capital expenditures of approximately 10% of revenues
• Interest expense of approximately $165 million for the first half of the year. The company plans to provide an outlook for its second half interest expense at a later date as those expenses are based on the closing date of the F&R transaction
• Effective tax rate on adjusted earnings between 14% - 16%

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

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