Thomson Reuters (TRI) Q1 2026 Earnings Transcript

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DATE

Tuesday, May 5, 2026 astatine 9 a.m. ET

CALL PARTICIPANTS

• President and Chief Executive Officer — Stephen John Hasker

• Chief Financial Officer — Michael Eastwood

• Incoming Chief Financial Officer — [Name not stated]

• Chair of the Board — Gary Elftman Bisbee

Full Conference Call Transcript

Stephen John Hasker: Thank you, and acknowledgment to each of you for joining america today. Before I statesman our prepared remarks, I would similar to admit our colleagues astatine Reuters who learned yesterday that they person won 2 2026 Pulitzer Prizes for journalism, bringing the full Pulitzer Prizes to 15 since 2008. So congratulations to Alessandra and everyone astatine Reuters. We person had a beardown commencement to 2026, with gross maturation up of our anterior expectations and margins successful line. Total institution integrated revenues roseate 8%, up from 7% passim 2025, driven by 9% maturation from the Big Three segments.

We are reaffirming our full-year 2026 outlook for integrated maturation successful a scope of 7.5% to 8%, including astir 9.5% for the Big Three segments, and for our margins to emergence by 100 ground points twelvemonth implicit twelvemonth to astir 40%. Good momentum continues crossed galore areas successful our portfolio. This includes double-digit maturation from cardinal products, including CoCounsel, Pagero, SafeSend, SurePrep, and our planetary businesses. We proceed to put heavy successful innovation, and we stay focused connected delivering against our robust merchandise roadworthy maps. Commercial momentum crossed our AI-enabled offerings continues to build, highlighted by beardown adoption trends for Westlaw Advantage.

Later successful my remarks, I volition sermon wherefore we are uniquely positioned to supply fiduciary-grade AI and supply an update connected adoption and usage trends. We besides stay excited by the improvement of Thompson, our proprietary legal-focused ample connection model. Thompson has begun to outperform starring frontier models connected circumstantial ineligible tasks and provides america with important optionality arsenic we proceed to execute our AI innovation roadmap. Our superior capableness and liquidity stay a cardinal absorption that we deploy to make shareholder value, and we made coagulated advancement connected this during the quarter. In February, we raised our yearly dividend by 10% for the 5th consecutive year.

We repurchased $262 cardinal of our shares successful the archetypal quarter, and yesterday we completed the antecedently announced $605 cardinal instrumentality of superior and concurrent stock consolidation. Together, these transactions person reduced our stock number by astir 2%. We stay committed to a balanced superior allocation approach, and we proceed to measure a fig of inorganic opportunities. With much than $9 cardinal of estimated superior capableness done 2028, we are positioned to beryllium some assertive and opportunistic. Now to the results for the quarter. First-quarter integrated revenues grew 8%. Organic recurring and transactional gross grew 8% and 10%, respectively, portion people revenues declined 5%, successful enactment with our expectations.