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BRIEF-Thomson Reuters Reports Quarterly Adjusted Earnings Of $0.29 Per Share

Published 2019-08-01, 02:57 a/m
© Reuters.  BRIEF-Thomson Reuters Reports Quarterly Adjusted Earnings Of $0.29 Per Share
TRI
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Aug 1 (Reuters) - Thomson Reuters Corp TRI.TO :

* QUARTERLY ADJUSTED EARNINGS PER SHARE $0.29

* RAISED ITS FULL-YEAR OUTLOOK FOR REVENUE GROWTH AND ADJUSTED EBITDA FOR 2019 AND 2020

* QUARTERLY IFRS EARNINGS PER SHARE $0.37

* QUARTERLY REVENUE $1.42 BILLION, UP 10% ON CONSTANT CURRENCY BASIS

* AGREEMENT SIGNED TO SELL REFINITIV BUSINESS TO LONDON STOCK EXCHANGE GROUP

* SEES FY 2019 REVENUE GROWTH OF 3.5% - 4.0% ORGANIC

* SEES FY 2019 ADJUSTED EBITDA $1.45 BILLION - $1.5 BILLION

* A QUARTERLY DIVIDEND OF $0.36 PER SHARE IS PAYABLE ON SEPT 16, 2019 TO COMMON SHAREHOLDERS OF RECORD AS OF AUG 22, 2019

* SAYS REFINITIV TRANSACTION WILL RESULT IN BLACKSTONE, CO HOLDING A COMBINED 37% ECONOMIC INTEREST IN LSEG (ABOUT 15% FOR THOMSON REUTERS)

* COMPANY REPURCHASED $190 MILLION OF SHARES IN SIX-MONTH PERIOD

* SEES FY 2019 FREE CASH FLOW $0 - $300 MILLION BEFORE CURRENCY AND EXCLUDING THE IMPACT OF FUTURE ACQUISITIONS/DISPOSITIONS

* SAYS THOMSON REUTERS' INTEREST IN LSEG SHARES WILL BE HELD IN AN ENTITY JOINTLY OWNED BY BLACKSTONE AND THOMSON REUTERS

* SEES FY 2019 CAP EX ABOUT ABOUT 9% OF REVENUE BEFORE CURRENCY AND EXCLUDING THE IMPACT OF FUTURE ACQUISITIONS/DISPOSITIONS

* UPON CLOSING OF REFINITIV TRANSACTION, THOMSON REUTERS IS PROJECTED TO INDIRECTLY OWN APPROXIMATELY 82.5 MILLION LSEG SHARES

* QUARTERLY LEGAL PROFESSIONALS REVENUES INCREASED 3% (4% ORGANIC) TO $603 MILLION

* SEES FY 2020 REVENUE GROWTH OF 4.0% - 4.5% ORGANIC (BEFORE CURRENCY AND EXCLUDING THE IMPACT OF FUTURE ACQUISITIONS/DISPOSITIONS)

* SAYS REUTERS NEWS' 30-YEAR AGREEMENT WITH REFINITIV WILL CONTINUE AFTER CLOSING OF TRANSACTION WITHIN COMBINED LSEG/REFINITIV BUSINESS

* SEES FY 2020 ADJUSTED EBITDA OF ABOUT 31% BEFORE CURRENCY AND EXCLUDING THE IMPACT OF FUTURE ACQUISITIONS/DISPOSITIONS

* SEES FY 2020 FREE CASH FLOW $1.0 - $1.2 BILLION BEFORE CURRENCY AND EXCLUDING THE IMPACT OF FUTURE ACQUISITIONS/DISPOSITIONS

* REFINITIV ACHIEVED RUN-RATE SAVINGS OF $380 MILLION AS OF END OF Q2

* REFINITIV EXPECTS TO ACHIEVE OVER TWO-THIRDS OF ITS TOTAL COST SAVINGS RUN-RATE TARGET BY END OF 2019

* SEES FY 2020 CAP EX 7.5% - 8.0% OF REVENUE BEFORE CURRENCY AND EXCLUDING THE IMPACT OF FUTURE ACQUISITIONS/DISPOSITIONS

* REFINITIV BELIEVES IT IS ON TRACK TO ACHIEVE ITS FULL COST SAVINGS RUN-RATE TARGET OF $650 MILLION BY END OF 2020

* QUARTERLY CORPORATES BUSINESS REVENUES INCREASED 9% (7% ORGANIC) TO $318 MILLION

* Q2 EARNINGS PER SHARE VIEW $0.18, REVENUE VIEW $1.43 BILLION -- REFINITIV IBES DATA

* FY2019 REVENUE VIEW $5.92 BILLION -- REFINITIV IBES DATA

* QUARTERLY TAX & ACCOUNTING PROFESSIONALS BUSINESS REVENUES INCREASED 6% (ALL ORGANIC) TO $182 MILLION

* QUARTERLY REVENUE FROM REUTERS NEWS INCREASED 118% TO $156 MILLION

* SAYS "NOW EXPECT 2019 AND 2020 REVENUE GROWTH AND ADJUSTED EBITDA TO EACH BE AT UPPER END OF GUIDANCE RANGES PREVIOUSLY PROVIDED"

* QUARTERLY REVENUE FROM GLOBAL PRINT BUSINESS DECREASED 3% TO $164 MILLION

* GUGGENHEIM SECURITIES, TD SECURITIES, CENTERVIEW PARTNERS SERVING AS ADVISORS TO THOMSON REUTERS IN AGREEMENT TO SELL REFINITIV TO LSEG

* Q2 2019 REVENUE FOR 100% OF REFINITIV WAS $1.55 BILLION; REFINITIV REPORTED NET LOSS OF $267 MILLION FOR Q2 2019

* QTRLY CORPORATE COSTS AT ADJUSTED EBITDA LEVEL WERE $122 MILLION COMPARED TO $70 MILLION IN PRIOR-YEAR PERIOD

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