Thomson Reuters (TRI) reported earnings on Tue 23 Feb 2021 (b/o)

** charts after earnings ** 

 

Thomson Reuters beats by $0.08, reports revs in-line; guides Q1 revs below consensus; guides FY21 revs in-line

Reports Q4 (Dec) earnings of $0.54 per share, $0.08 better than the S&P Capital IQ Consensus of $0.46; revenues rose 2.1% year/year to $1.62 bln vs the $1.61 bln S&P Capital IQ Consensus.

Outlook

• Co issues downside guidance for Q1, sees Q1 revs of +1.5-2.5% yr/yr to ~$1.54-1.56 bln vs. $1.59 bln S&P Capital IQ Consensus.
• Co issues in-line guidance for FY21, sees FY21 revs of +3-4% yr/yr to $6.16-6.22 bln vs. $6.22 bln S&P Capital IQ Consensus.
• Co sees FY22 revs growing 4.0% - 5.0%; sees FY23 revs growing 5.0% - 6.0%.
• Organic revenue growth of 5% - 6% in 2023
• Adjusted EBITDA margin of 38% - 40% in 2023
• Free cash flow of $1.8 billion - $2.0 billion in 2023