1. TRI's Q4 revenue growth reached 5%, driven by recurring revenues. 2. Operating profit surged 29%, aided by the divestiture of non-core assets. 3. Diluted EPS fell 13% to $1.30, influenced by tax and discontinued operations. 4. SafeSend acquisition will enhance the Tax & Accounting segment's offerings. 5. 2025 guidance suggests moderate revenue growth amid macroeconomic uncertainties.
Overall revenue and operating profit growth indicate strong business performance, despite EPS decline. Historically, effective execution of strategic plans has positively influenced TRI’s stock value.
The article contains key financial results and strategic insights that are crucial for TRI's investors. Positive growth metrics alongside the SafeSend acquisition may signal future potential.
The focus on core segments and strategic acquisitions can drive sustained growth and shareholder value. Companies with well-defined growth strategies often see long-term stock appreciation.
TORONTO, Feb. 6, 2025 /PRNewswire/ -- Thomson Reuters (TSX/NYSE: TRI) today reported results for the fourth quarter and full year ended December 31, 2024:
"2024 marked important progress at Thomson Reuters," said Steve Hasker, President and CEO of Thomson Reuters. "We continue to deliver on the ambitious innovation roadmap we shared at our 2024 investor day, highlighted by the launch of new product capabilities and enhancements throughout our portfolio. Looking ahead to 2025, we continue to focus on investing in content-driven technology that helps professionals make complex decisions with confidence."
Mr. Hasker added, "We remain focused on allocating capital to drive long-term shareholder value creation. In 2024, we continued to return capital to shareholders, completed the monetization of our London Stock Exchange Group stake and executed several strategic acquisitions, resulting in a stronger and more strategically aligned portfolio with improved growth prospects."
| (Millions of U.S. dollars, except for adjusted EBITDA margin and EPS) | 2024 | 2023 | Change | Change at Constant Currency |
|---|---|---|---|---|
| Revenues | $1,909 | $1,815 | 5 % | 5 % |
| Operating profit | $722 | $558 | 29 % | 29 % |
| Diluted earnings per share (EPS) | $1.30 | $1.49 | -13 % | -13 % |
| Net cash provided by operating activities | $564 | $705 | -20 % | -20 % |
In addition to results reported in accordance with International Financial Reporting Standards (IFRS), the company uses certain non-IFRS financial measures as supplemental indicators of its operating performance and financial position.
Revenues increased 5% due to 7% growth in recurring revenues (83% of total revenues), partly offset by a 1% decline in transactions revenues and a 6% decline in Global Print. The net impact of acquisitions and disposals as well as foreign currency on total company revenue growth was not significant.
The company's outlook for 2025 assumes constant currency rates and incorporates the recent SafeSend acquisition and the divestitures of FindLaw and other non-core businesses but excludes the impact of any future acquisitions or dispositions that may occur during the remainder of the year. Thomson Reuters believes that this type of guidance provides useful insight into the anticipated performance of its businesses.
In January 2025, the company acquired cPaperless, LLC, doing business as SafeSend, for $600 million in cash. SafeSend is a U.S. based cloud-native provider of technology for tax and accounting professionals.
The company announced today that its Board of Directors approved a 10% or $0.22 per share annualized increase in the dividend to $2.38 per common share, representing the 32nd consecutive year of dividend increases and the fourth consecutive 10% increase. A quarterly dividend of $0.595 per share is payable on March 10, 2025 to common shareholders of record as of February 20, 2025.
For more information, visit tr.com.