Thomson Reuters Q3 2026: Margins Break a Five-Quarter Streak
As seen on the 24/7 Wall St. homepage on November 3, 2026.
A five-quarter run of EPS beats ended here, with adjusted earnings missing expectations even as revenue topped forecasts. Costs drove it: Legal Professionals margin fell to 46.6% from 49.0% on higher technology spending, though management still guides to roughly 9.5% full-year revenue growth on a continuing operations basis after the Global Print sale.
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Thomson Reuters grew third-quarter revenue 2.9% year over year, but adjusted EPS of $0.81 came in missing expectations, ending five straight quarters of bottom-line beats.
Legal Professionals adjusted EBITDA margin contracted to 46.6% from 49.0% a year earlier as higher technology spending hit one of the company's most profitable divisions.
Thomson Reuters closed the sale of a 51% stake in its Global Print business to KKR on October 1, retaining a 49% interest in the Westbridge Print joint venture.
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The Q4 adjusted EBITDA margin is guided to about 42%, a step up from the 35.5% reported this quarter.
CEO Steve Hasker pointed to early traction with CoCounsel Legal and the launch of CoCounsel Tax, Audit and Accounting as signs of AI momentum.