Thomson Reuters

Thomson Reuters (TRI) Q1 2026 Earnings

Reported May 6, 2026 at 4:23 PM ET · SEC Source

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
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TRI YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

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TRI Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q2 26
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TRI Revenue by Geography

With YoY comparisons, source: SEC Filings

Q1 26 Q2 26