May 5 (Reuters) - Thomson Reuters Corp TRI.TO :
* THOMSON REUTERS REPORTS FIRST-QUARTER 2020 RESULTS AND UPDATES FULL-YEAR OUTLOOK
* Q1 ADJUSTED EARNINGS PER SHARE $0.48
* Q1 IFRS EARNINGS PER SHARE $0.39
* QUARTERLY LEGAL PROFESSIONALS REVENUES INCREASED 5% (4% ORGANIC) TO $626 MILLION AT CONSTANT CURRENCY
* THOMSON REUTERS TODAY UPDATED ITS FULL-YEAR OUTLOOK FOR 2020
* Q1 REVENUE $1.52 BILLION , UP 3% ON CONSTANT CURRENCY BASIS
* Q1 EARNINGS PER SHARE VIEW $0.49, REVENUE VIEW $1.53 BILLION -- REFINITIV IBES DATA
* QUARTERLY CORPORATES REVENUES INCREASED 7% (5% ORGANIC) TO $367 MILLION AT CONSTANT CURRENCY
* TOTAL COMPANY REVENUES FOR Q2 OF 2020 ARE EXPECTED TO DECLINE BETWEEN 1% AND 2%
* QUARTERLY TAX & ACCOUNTING PROFESSIONALS REVENUES OF $218 MILLION WERE UNCHANGED AT CONSTANT CURRENCY
* DOES NOT ANTICIPATE ANY CHANGES TO ITS PLANS TO PAY ANNUALIZED DIVIDEND
* TOTAL COMPANY ORGANIC REVENUES FOR Q2 2020 ARE EXPECTED TO DECLINE BETWEEN 2% AND 3%
* SAYS DOES NOT ANTICIPATE REPURCHASING MORE OF ITS SHARES IN NEAR TERM
* QUARTERLY REUTERS NEWS REVENUES OF $155 MILLION WERE FLAT AT CONSTANT CURRENCY
* SAYS BELIEVES ITS EXISTING SOURCES OF LIQUIDITY WILL BE SUFFICIENT TO FUND ITS PROJECTED CASH REQUIREMENTS FOR NEXT 12 MONTHS
* SAYS IN Q2, "BIG 3" SEGMENTS (LEGAL PROFESSIONALS, CORPORATES, TAX & ACCOUNTING PROFESSIONALS) COLLECTIVELY EXPECTED TO ACHIEVE REVENUE GROWTH OF 2.5%-3.5%
* QUARTERLY REUTERS NEWS ORGANIC REVENUES DECREASED 4% DUE TO COVID-19 RELATED CANCELLATIONS OF EVENTS IN REUTERS EVENTS BUSINESS
* IN Q2, "BIG 3" SEGMENTS (LEGAL PROFESSIONALS, CORPORATES, TAX & ACCOUNTING PROFESSIONALS) COLLECTIVELY EXPECTED TO ACHIEVE ORGANIC REVENUE GROWTH OF 2%-3%
* QUARTERLY GLOBAL PRINT REVENUES DECREASED 5% TO $155 MILLION AT CONSTANT CURRENCY
* UPDATED OUTLOOK ASSUMES CO WILL BE ABLE TO MITIGATE IMPACT OF ANTICIPATED LOWER 2020 REVENUE THROUGH ITS $100 MILLION COST REDUCTION PROGRAM
* CUT ITS FREE CASH FLOW FORECAST TO ABOUT $1.0 BILLION FOR FY 2020
* REUTERS NEWS FULL-YEAR 2020 REVENUES ARE EXPECTED TO DECLINE BETWEEN 4% AND 6%
* SAYS Q2 TOTAL COMPANY REVENUE OUTLOOK TO DECLINE PRIMARILY DUE TO EVENTS CANCELLATIONS IN REUTERS NEWS BUSINESS, DELAYS IN SHIPPING OF CERTAIN GLOBAL PRINT MATERIALS
* SAYS LOWER FREE CASH FLOW GUIDANCE ASSUMES LOWER REVENUE AND TEMPORARY DELAYS IN COLLECTING PAYMENTS FROM SOME CUSTOMERS
* QUARTERLY CORPORATE COSTS AT ADJUSTED EBITDA LEVEL WERE $33 MILLION COMPARED TO $132 MILLION IN PRIOR-YEAR PERIOD
* SEES FY 2020 TOTAL REVENUE GROWTH OF 1.0%-2.0% BEFORE CURRENCY AND EXCLUDING THE IMPACT OF FUTURE ACQUISITIONS/DISPOSITIONS
* SEES FY 2020 ORGANIC REVENUE GROWTH OF 0% - 1.0% BEFORE CURRENCY AND EXCLUDING THE IMPACT OF FUTURE ACQUISITIONS/DISPOSITIONS
* SEES FY 2020 ADJUSTED EBITDA MARGIN OF 31.0% – 32.0% BEFORE CURRENCY AND EXCLUDING THE IMPACT OF FUTURE ACQUISITIONS/DISPOSITIONS
* SAYS NEARLY ALL OF REUTERS EVENTS IN-PERSON CONFERENCES HAVE BEEN POSTPONED THROUGH AUGUST 2020
* SEES FY 2020 FREE CASH FLOW OF ABOUT $1.0 BILLION BEFORE CURRENCY AND EXCLUDING THE IMPACT OF FUTURE ACQUISITIONS/DISPOSITIONS
* SAYS POSTPONED REUTERS EVENTS CONFERENCES EXPECTED TO RESULT IN LOST REVENUES OF APPROXIMATELY $25 MILLION IN Q2
* SEES FY 2020 CAP EX OF 7.5% - 8.0% OF REVENUE BEFORE CURRENCY AND EXCLUDING THE IMPACT OF FUTURE ACQUISITIONS/DISPOSITIONS
* SAYS REUTERS EVENTS BUSINESS COULD FORGO AN ADDITIONAL $15 MILLION OF REVENUES IN Q4 2020 IF IT IS UNABLE TO RESUME IN-PERSON CONFERENCES
* SAYS HAS UPDATED ITS OUTLOOK BASED ON ITS CURRENT VIEW & EXPECTS TO PROVIDE ANOTHER UPDATE WITH RELEASE OF ITS Q2 RESULTS
* SEES FY 2020 "BIG 3" SEGMENTS TOTAL REVENUE GROWTH OF 3.0% - 4.0% BEFORE CURRENCY AND EXCLUDING THE IMPACT OF FUTURE ACQUISITIONS/DISPOSITIONS
* UPDATED OUTLOOK ASSUMES DIMINISHED ECONOMIC ACTIVITY THROUGH Q2 FOLLOWED BY A GRADUAL RECOVERY THROUGH H2 2020
* SEES FY 2020 "BIG 3" SEGMENTS ORGANIC REVENUE GROWTH OF 3.0% - 4.0% BEFORE CURRENCY AND EXCLUDING THE IMPACT OF FUTURE ACQUISITIONS/DISPOSITIONS
* SEES FY 2020 "BIG 3" SEGMENTS ADJUSTED EBITDA MARGIN OF 36.0% - 37.0% BEFORE CURRENCY AND EXCLUDING IMPACT OF FUTURE ACQUISITIONS/DISPOSITIONS
* SAYS THOMSON REUTERS HAS NOT EXPERIENCED ANY SIGNIFICANT COVID-19 RELATED SUPPLIER DISRUPTIONS OR ISSUES
* SAYS AS ECONOMIC CRISIS BEGAN TO EMERGE, CO BORROWED $1.0 BILLION UNDER ITS CREDIT FACILITY IN Q1 2020 TO REPAY COMMERCIAL PAPER, BUT ALSO AS A PRECAUTIONARY MEASURE
* SAYS AMOUNTS BORROWED UNDER CREDIT FACILITY NOT DUE UNTIL 2024, BUT MAY CONSIDER REPLACING BORROWINGS WITH LONGER TERM DEBT IN NEAR TERM
* SAYS CURRENTLY OPERATING WITH ABOUT 98% EMPLOYEES WORKING REMOTELY FROM HOMES; IN PARTS OF ASIA, CO IS BEGINNING A PHASED RETURN TO OFFICE