Thomson Reuters earnings
Thomson Reuters expects its next results on November 3, 2026. Thomson Reuters' key focus is organic growth and the outlook after Global Print moves to discontinued operations.
What has Thomson Reuters guided for 2026?
The weighted case points to a modest return by October 2029 if paid AI adoption, renewals, cash generation, and the valuation multiple hold. For 2026, management guides to 8.0% revenue growth and 8.0% organic revenue growth. It expects Big 3 organic growth of 9.5%–10.0% and a 100-basis-point adjusted EBITDA margin increase versus 2025. Free-cash-flow guidance is US$2,100 million.
| period guided | low | high | date given | |
|---|---|---|---|---|
| Revenue growth | Year to Dec 2026 | 8.0% | 8.0% | Aug 5, 2026 |
| Organic revenue growth | Year to Dec 2026 | 8.0% | 8.0% | Aug 5, 2026 |
| Adjusted EBITDA margin (basis-point increase versus 2025) | Year to Dec 2026 | 100 | 100 | Aug 5, 2026 |
| Free cash flow | Year to Dec 2026 | 2,100 | 2,100 | Aug 5, 2026 |
| “Big 3” Segments, Organic revenue growth | Year to Dec 2026 | 9.5% | 10.0% | Aug 5, 2026 |
What this means. The 100 shown for the adjusted earnings before interest, taxes, depreciation, and amortization margin means the margin should rise by one percentage point from 2025, not reach 100 percent.
Has Thomson Reuters kept its past promises?
The operating test was organic revenue growth. Organic growth measures the existing business without the effects of acquisitions, disposals, or currency movements. Thomson Reuters set a 2025 target of 7.0% to 7.5% and delivered 7.0%, the bottom of the range. Hasker’s annual incentive paid 101% of target. That shows operating results affected pay, but not whether the target was especially demanding.
What is Thomson Reuters' recent trend in revenue and profit?
Revenue reached US$1,954 million, compared with US$1,785 million a year earlier. The calculated increase was 9.5%. Organic growth was 8%, and recurring revenue grew organically by 9%. Legal and Corporates both delivered double-digit organic growth, so the improvement was broad.
Net income rose from US$297 million to US$444 million. Diluted EPS increased from US$0.67 to US$1.01, helped by the gain and by fewer shares. Tax adjustments added a net US$3 million benefit, too small to explain the wider profit increase.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,954 | 2,087 | 2,009 | 1,782 | 1,785 | 1,900 | 1,909 | 1,724 |
| Operating income | 558 | 639 | 540 | 593 | 436 | 563 | 722 | 415 |
| Net income | 444 | 477 | 333 | 428 | 297 | 425 | 607 | 277 |
| EPS, diluted | 1.01 | 1.09 | 0.76 | 0.96 | 0.67 | 0.95 | 1.36 | 0.62 |
What this means. The free cash flow number is our broader count because it also subtracts lease payments and interest paid, while the company subtracts only spending on equipment.
What should Thomson Reuters watchers look for next?
November 3, 2026 Q3 results should show whether organic growth and the outlook hold after Global Print moves to discontinued operations. CoCounsel Legal became available in the UK on October 14, 2026, with broader availability expected by the end of October. November’s SYNERGY event will spotlight product releases. Through 2027–2029, renewals, AI-enabled contract value, margins, free cash flow, and net debt will determine the economics.