Thomson Reuters Reports Third-Quarter 2026 Results

(TSX:TRI, NASDAQ:TRI) Thomson Reuters reported strong revenue growth for the third quarter ended September 30, 2026, with total company revenues increasing by 10% to $1,833 million from $1,658 million in the prior-year period. Organic revenues also rose 10% in total and for the "Big 3" segments: Legal Professionals, Corporates, and Tax, Audit & Accounting Professionals. On October 1, 2026, Thomson Reuters closed the sale of a 51% stake in its Global Print business to capital accounts advised by KKR for gross proceeds of approximately $500 million. The company updated its full-year 2026 outlook to exclude the Global Print business, now expecting total revenue growth of approximately 9.5% and organic revenue growth of approximately 8.5% to 9.0%, with an adjusted EBITDA margin of approximately 39%. Revenue growth and adjusted EBITDA margin guidance for the "Big 3" segments remain unchanged from the August 5, 2026 outlook. In September 2026, Thomson Reuters issued $1.3 billion and CDN $1.0 billion of notes, raising total proceeds of approximately $2.0 billion. The company also completed a $600 million share repurchase program announced in February 2026. For Q3 2026, operating profit was $402 million, down from $517 million in Q3 2025, primarily due to a prior-year gain from the sale of the Elite business and higher software amortization. Diluted EPS decreased to $0.78 from $0.94, while adjusted EPS increased to $0.81 from $0.71. Net cash provided by operating activities was $599 million, down from $704 million, and free cash flow was $408 million, down from $526 million. Adjusted EBITDA rose 10% to $651 million, with a margin of 35.5% versus 35.8% last year. By segment, Q3 revenues were: Legal Professionals $788 million, Corporates $544 million, Tax, Audit & Accounting Professionals $276 million, and Reuters $232 million. Adjusted EBITDA by segment was: Legal Professionals $368 million, Corporates $197 million, Tax, Audit & Accounting Professionals $83 million, and Reuters $56 million. For the nine months ended September 30, 2026, total revenues were $5,651 million, up from $5,113 million, and operating profit was $1,471 million, up from $1,370 million. Diluted EPS for the nine months was $2.83, up from $2.59, and adjusted EPS was $2.78, up from $2.43. Net cash provided by operating activities for the nine months was $2,024 million, up from $1,895 million, and free cash flow was $1,467 million, up from $1,369 million. Adjusted EBITDA for the nine months was $2,140 million, up from $1,930 million, with a margin of 37.9% versus 37.6%. The "Big 3" segments combined accounted for 88% of Q3 revenues and 89% of nine-month revenues. Recurring revenues comprised 88% of Q3 total revenues and 85% of nine-month total revenues. Transactions revenues grew 27% in Q3 and 18% in the nine months. The company completed the $600 million share repurchase program and closed the Global Print sale for $500 million. Steve Hasker, President and CEO, stated that revenue growth and margins exceeded expectations, customer engagement with next-generation CoCounsel Legal and Tax, Audit & Accounting products was strong, and discussions around Thomson LLM commercial opportunities continue. The company remains confident in its innovation engine and long-term value creation.

Thomson Reuters Reports Second-Quarter 2026 Results

(TSX:TRI, NASDAQ:TRI) Thomson Reuters reported second quarter 2026 revenues of $1,954 million, representing a 9% increase over the prior-year period. Operating profit for the quarter was $558 million, up 28%, and diluted earnings per share rose to $1.02 from $0.69, a 48% increase. The company completed a $605 million return of capital transaction on May 4, 2026, reducing its share count by approximately 6.5 million shares, and finished a $600 million share repurchase program announced on February 25, 2026. Thomson Reuters announced a definitive agreement with KKR to form a joint venture for the Global Print business, selling a 51% stake for approximately $500 million in gross proceeds. Net cash provided by operating activities for the quarter was $920 million, up 23%, and free cash flow was $727 million, up 29%. The company raised its full-year 2026 total and organic revenue growth outlook to approximately 8.0% for the total company and to a range of 9.5% to 10.0% for the "Big 3" segments.