Thomson Reuters Clocks 3% Revenue Growth In Q4, Boosts Dividend By 10%

Thomson Reuters Corp (NYSE: TRI) reported fourth-quarter FY22 revenue growth of 3% year-on-year to $1.765 billion, beating the consensus of $1.760 billion.
Organic revenues increased by 6%, driven by recurring revenues.
The "Big 3" segments (Legal Professionals, Corporates, and Tax & Accounting Professionals) collectively comprised 80% of total revenues and reported organic revenue growth of 7%. Legal Professionals' revenue grew 2% Y/Y to $704 million, Corporates' revenue rose 6% Y/Y to $379 million, and Tax & Accounting Professionals' revenue increased 5% Y/Y to $326 million.
Reuters News revenue improved 7% Y/Y to $198 million, and the Global Print revenue fell 4% Y/Y to $162 million.
Adjusted EBITDA margin expanded by 950 bps to 35.9%.
Adjusted EPS of $0.73 beat the consensus of $0.65.
Thomson Reuters generated $526 million in free cash flow and held $1.07 billion in cash and equivalents.
Dividend: The board approved a 10% annualized increase in the dividend to $1.96 per common share.
Outlook: Thomson Reuters expects Q1 organic revenue growth rate to be at the low end of the full year, 5.5% - 6.0%.
Thomson Reuters reiterated FY23 organic revenue growth of 5.5% - 6.0%.
Thomson Reuters lowered FY23 revenue growth to 4.5% - 5.0%, down from the prior 5.5% - 6.0% (consensus $6.92 billion).
Price Action: TRI shares traded higher by 0.52% at $117.87 premarket on the last check Thursday.

Momentum64.73

Growth85.95

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