Thomson Reuters Corporation · TSX:TRI
Thomson Reuters — Q3 2024 Earnings Presentation
19 slides from Thomson Reuters's earnings presentation, Nov 5, 2024
Slide 1: Thomson Reuters 2024 Third-Quarter Results
REUTERS/Hollie Adams Thomson Reuters 2024 Third-Quarter Results November 5, 2024 Thomson Reuters"
Slide 2: Agenda
Agenda r XL Welcome / Introduction Gary Bisbee Third-Quarter 2024 Highlights Innovation and Product Update Steve Hasker L yy, (— > ¢ Financial Review Mike Eastwood Third-Quarter 2024 Results 2024 Full-Year Outlook Update Ne S Q&A Thomson Reuters”
Slide 3: Special Note
Special Note SpecialNoteRegardingForward-LookingStatements,MaterialAssumptionsandMaterialRisks Thispresentation consists of these slides and the associated remarks and comments,which are related and intended to be presented and understood togeth Certain statements in this presentation and discussion
Slide 4: Third-Quarter 2024 Highlights
Thomson Reuters Third-Quarter 2024 Highlights Steve Hasker President & CEO Thomson Reuters"
Slide 5: Third-Quarter 2024 Highlights
Third-Quarter 2024 Highlights 1. Good momentum continues with Q3 results exceeding expectations * Q3 organic revenue growth of 7%, driven by 8% recurring revenue growth * “Big 3” (Legal, Corporates, and Tax & Accounting) organic revenue growth of 9% * Modest Q3 adjusted EBITDA margin upside vs. expe
Slide 6: Third-Quarter 2024 Consolidated Results
Third-Quarter 2024 Consolidated Results IFRS Financial Measures ($ millions) 2024 2023 Change Revenues $1,724 $1,594 Up 8% Operating profit $415 $441 Down 6% Diluted earnings per share (EPS) $0.67 $0.80 Down 16% Cash flow from operations $756 $674 Up 12% Change at Constant Organic Non-IFRS Financial
Slide 7: Tax Professionals Corporates
Tax Corporates Reuters News Global Print Professionals Reuters News
Slide 8: Innovation and Product Update
Innovation and Product Update Thomson Reuters"
Slide 9: SafeSign Technologies
• • • • • • • SafeSign Technologies • • • •
Slide 10: Financial Review: Third-Quarter 2024 Results, Updated 2024 Outlook
Financial Review Third-Quarter 2024 Results Updated 2024 Outlook Mike Eastwood Chief Financial Officer Thomson Reuters"
Slide 11: Legal, Corporates, Tax & Accounting Professionals Revenues
Third-Quarter 2024 Legal, Corporates, Tax & Accounting Professionals Revenues ($ millions) Third Quarter Nine Months Constant Constant Revenues 2024 2023 Total Currency Organic 2024 2023 3Total CurrencyOrganic LegalProfessionals 745 688 +8% +8% +7% 2,193 2,107 +4% +4% +7% Corporates 437 391 +12% +12
Slide 12: Consolidated Revenues
Third-Quarter 2024 Consolidated Revenues ($ millions) Third Quarter Nine Months Constant Constant Revenues 2024 2023 Total Currency Organic 2024 2023 Legal Professionals 745 688 +8% +8% +7% 2,193 2,107 +4% +4% +7% Corporates 437 391 +12% +12% +10% 1,386 1,218 +14% +14% +10% Tax & Accounting Professi
Slide 13: Consolidated Adjusted EBITDA
Third-Quarter 2024 Consolidated Adjusted EBiTDA ($ millions) Third Quarter Nine Months Constant Constant Adjusted EBITDA 2024 2023 Total Currency 2024 2023 Total Currency Legal Professionals 334 338 -1% -1% 1,003 1,001 Margin 44.9% 49.1% 45.7% 47.5% Corporates 162 164 -1% -2% 518 481 +8% +7% Margin
Slide 14: Adjusted Earnings Per Share (EPS)
Adjusted Earnings Per Share (EPS) ($millions exceptpershare amounts&sharecount) Third Quarter Nine Months 2024 2023 % Change 2024 2023 % Change Adjusted EBITDA 609 632 -4% 2,061 1,971 +5% (181) Depreciation & Amortization of Computer Software (160) (545) (464) Add back: Acquired Software Amortizatio
Slide 15: Consolidated Free Cash Flow
Consolidated Free Cash Flow ($ millions) Third Quarter Nine Months 2024 2023 Change 2024 2023 Change Net Cash from Operations, before change in WC 550 417 133 1,641 1,219 422 Changes in working capital and other items 206 257 (51) 252 417 (165) Net Cash Provided by Operating Activities 756 674 82 1,
Slide 16: 2024 Outlook Update
2024 Outlook Update Thomson Reuters"
Slide 17: SafeSign Technologies
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Slide 18: 2024 Updated Outlook
2024 Updated Outlook FY 2023 FY2024 FY2024 FY2024 FY2024 Total Thomson Reuters Outlook(3) Outlook (3) Outlook (3) Outlook (3) Reported 2/8/24 5/2/24 8/1/24 11/5/24 Total Revenue Growth 3% ~ 6.5% 6.5% - 7.0% ~ 7.0% Unchanged Organic Revenue Growth () 6% ~ 6% 6.0% - 6.5% ~ 6.5% ~7.0% Adjusted EBITDA M
Slide 19: Q&A
Q&A 2P°% Thomson ele Reuters”