Q1 26 EPS
$1.23
BEAT +2.87%
Est. $1.20
Q1 26 Revenue
$2.09B
BEAT +2.19%
Est. $2.04B
Did TRI Beat Earnings? Q1 2026 Results
Thomson Reuters posted a solid first quarter of 2026, with revenue climbing 10% year-over-year to $2.09 billion and adjusted earnings per share rising 10% to $1.23, up from $1.12 a year ago, as the company's legal, corporate, and tax-focused business… Read more Thomson Reuters posted a solid first quarter of 2026, with revenue climbing 10% year-over-year to $2.09 billion and adjusted earnings per share rising 10% to $1.23, up from $1.12 a year ago, as the company's legal, corporate, and tax-focused businesses continued to drive broad-based momentum. The primary engine behind the quarter was the collective strength of Thomson Reuters' "Big 3" segments, which together generated $1.77 billion in revenue, growing 9% organically, with recurring revenues, representing 77% of total revenues, expanding 8% organically. Adjusted EBITDA reached $881 million, up 9%, though the margin edged down 10 basis points to 42.2%, partly due to a 50-basis-point foreign currency headwind. The company also acquired Noetica, Inc. For approximately $212 million during the quarter, adding to its professional services capabilities. Looking ahead, Thomson Reuters maintained its full-year organic revenue growth outlook of 7.5% to 8.0% and free cash flow guidance of approximately $2.1 billion, while nudging net interest expense estimates higher to reflect the impact of ongoing capital return activity.
Key Takeaways
- • Strong growth in Westlaw and CoCounsel driving Legal Professionals recurring revenue
- • Corporates segment driven by Westlaw, CoCounsel, Practical Law, Pagero, CLEAR and international businesses
- • Tax, Audit & Accounting recurring growth driven by tax and audit products including CoCounsel and Latin America business
- • Transactions revenue growth of 10% organically across the company
- • Recurring revenues comprising 77% of total revenues grew 8% organically
- • Reuters revenue growth aided by higher Agency revenues and contractual price increase from LSEG news agreement
- • Staff costs increased to $693 million from $633 million year-over-year
- • Goods and services expenses rose to $411 million from $370 million
TRI YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
TRI Revenue by Segment
With YoY comparisons, source: SEC Filings
TRI Revenue by Geography
With YoY comparisons, source: SEC Filings
TRI Earnings Trends
TRI vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
TRI EPS Trend
Earnings per share: estimate vs actual
TRI Revenue Trend
Quarterly revenue: estimate vs actual
TRI Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $0.96 | $0.99 | +3.34% | $1.95B | +1.82% |
| Q1 26 BEAT | $1.20 | $1.23 | +2.87% | $2.09B | +2.19% |
| Q4 25 BEAT FY | $1.06 | $1.07 | +0.74% | $2.01B | +0.47% |
| FY Full Year | $3.89 | $3.92 | +0.72% | $7.48B | +0.00% |
| Q3 25 BEAT | $0.83 | $0.85 | +2.97% | $1.78B | +0.16% |
| Q2 25 BEAT | $0.83 | $0.87 | +4.54% | $1.79B | -0.36% |