With strong Q1 results and unchanged guidance for organic revenue growth (7.5-8%) and adjusted EBITDA margin expansion (+100bp), the positive momentum suggests continued execution. Monitor Q2 organic revenue growth (guided 7-8%) and adjusted EBITDA margin (~38%) for confirmation of the trajectory. The elevated net interest expense guidance ($180-190M) may slightly pressure EPS growth vs prior expectations.
Price Chart
Executive Summary
Thomson Reuters reported strong Q1 2026 results with 10% total revenue growth (8% organic) and 9% adjusted EBITDA growth, driven by 9% organic growth in its core Big 3 segments. The company maintained its full-year 2026 outlook for all key metrics except net interest expense, which was raised to $180-190 million due to share repurchases and capital return transactions. Key financial highlights include revenues of $2,087 million, operating profit of $639 million (up 14%), adjusted EPS of $1.23 (up 10% constant currency), and free cash flow of $332 million.
Key Facts
- Revenues of $2,087 million, up 10% total and 8% organic YoY
- Adjusted EBITDA of $881 million, up 9% YoY
- Adjusted EPS of $1.23, up 10% YoY on a constant currency basis
- Big 3 segments (85% of revenue) grew 9% organically
- Full-year 2026 outlook maintained for all key metrics except net interest expense raised to $180-190 million
- Share repurchases of $262 million in Q1 and a $605 million return of capital executed on May 4, 2026
- Net debt to adjusted EBITDA leverage ratio of 0.8:1
Financial Impact
Revenue growth of $187 million, adjusted EBITDA growth of $72 million, and adjusted EPS growth of $0.11 vs prior year quarter
Risk Factors
- Uncertain macroeconomic and geopolitical environment could slow demand
- AI regulatory uncertainty may impact product offerings or costs
- Higher net interest expense from share repurchases and capital return reduces EPS growth
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 10 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001193125-26-209082 |
| Document: tri-ex99_2.htm | 0001193125-26-209082 |
| Document: q1_2026_interim_report.htm | 0001193125-26-209082 |
| Document: tri-ex99_3.htm | 0001193125-26-209082 |
| Document: tri-ex99_4.htm | 0001193125-26-209082 |
| Document: tri-ex99_5.htm | 0001193125-26-209082 |
| Document: tri-ex99_6.htm | 0001193125-26-209082 |
| Document: 0001193125-26-209082-index-headers.html | 0001193125-26-209082 |
| Document: 0001193125-26-209082-index.html | 0001193125-26-209082 |
| Document: 0001193125-26-209082.txt | 0001193125-26-209082 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 6, 2026 24w ago | 6-K | $11.51 $11.51 | · 0.00% | ▼ −3.83% | $11.05 (−3.97%) |
May 5, 2026 25w ago | 6-K | $11.51 $11.51 | · 0.00% | ▼ −2.74% | $11.05 (−3.97%) |
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