TRI US NASDAQ-100 Konferencja wynikowa
Thomson Reuters
Wyniki II kw. 2026 vs I kw. 2026 · poprzedni kwartał · opublikowano 5 sie 2026 i 5 maj 2026
Net income down 2.4% on the previous quarter. Management sounded upbeat, in its script and in answers to analysts.
1 · Liczby
−2,4%
Zysk netto vs I kw. 2026
Podano perspektywy
Zysk netto 448,0 mln vs 459,0 mln
Przychody −6,4%
2 · Jak mówił zarząd
Optymistyczny
More upbeat than 88% of company calls
Answers to analysts: upbeat, in line with the script.
Last call it was different: the answers were more upbeat than the script.
3 · Co się wyróżniło
Thomson Reuters raised its full-year 2026 organic revenue growth outlook to approximately 8% and increased the Big 3 total and organic revenue outlook to a range of 9.5% to 10%.
Między wierszami
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Rośnie
The company raised its full-year 2026 organic revenue growth outlook to approximately 8% because growth in Legal Professionals and Corporates accelerated to 10% from 9% last quarter.
Cytat ze źródła
“We are raising our full year 2026 outlook for total and organic revenue growth to approximately 8% or the high end... The acceleration was driven by Legal Professionals and Corporates, which both also accelerated to 10%, up from 9% last quarter. We're also raising our Big 3 total and organic revenue outlooks to a range of 9.5% to 10%, up from the prior approximately 9.5%.”
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Prognoza
Government growth improved to 5% year-over-year from 1% in Q1, though a softer growth rate is anticipated in Q3 as certain transactional revenue is not expected to recur.
Cytat ze źródła
“Government growth improved to 5% year-over-year from 1% in Q1, though we anticipate a softer growth rate in Q3 as certain transactional revenue in the quarter is not expected to recur at the same level.”
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Prognoza
The company updated its 2026 guidance to expected adjusted EBITDA margins of approximately 40% and free cash flow of approximately $2.1 billion.
Cytat ze źródła
“We continue to see 2026 adjusted EBITDA margins of approximately 40%, and we expect free cash flow of approximately $2.1 billion.”
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Słabnie
The company expects 11% to 13% annual revenue growth because two product updates shifted revenue recognition toward the second half of the year.
Cytat ze źródła
“For the full year, we remain confident in our 11% to 13% revenue growth outlook, with acceleration from Q1 levels... ...by 2 product updates that shifted revenue recognition towards the second half of the year. Moving to orders.”
Wycena
Odwrócony DCF. Wolne przepływy pieniężne z ostatniego pełnego roku obrotowego (2025-12-31), powiększane przez 10 lat, zdyskontowane, plus wartość rezydualna. „Wzrost implikowany” to tempo, które zakłada obecna cena.
Aktualna cena
$99.28
zamknięcie z 2026-10-07
Rynek zakłada wzrost o iRoczny wzrost wolnych przepływów pieniężnych przez następne 10 lat, który zakłada dzisiejsza cena akcji. Jeśli uważasz, że spółka będzie rosła szybciej, akcja jest w tym modelu tania; wolniej — droga.
+9,1% przez 10 lat
Wartość godziwa / akcję
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Kupuj poniżej
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Cena vs wartość godziwa
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Cena vs cena zakupu
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Zarząd oczekuje
Przychody +1% · z raportu za II kw. 2026: “Government growth improved to 5% year-over-year from 1% in Q1, though a softer growth rate is anticipated in Q3 as certain transactional revenue is not…”
Prognoza zarządu, zwykle na rok do przodu — nie tempo wzrostu przepływów na 10 lat.
Ton
Jak optymistyczny był język w porównaniu z innymi spółkamiiTon to liczba pozytywnych słów finansowych minus liczba negatywnych, skorygowana o długość tekstu. Zarządy zwykle mówią pozytywnie, więc etykiety porównują każdą konferencję z ostatnimi konferencjami wszystkich spółek: „typowy” to środkowa trzecia, „bardzo optymistyczny” to najlepsze 10%, „ostrożny” to najsłabsze 10%.. Kropka: II kw. 2026. Pierścień: I kw. 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Zdania, które wpłynęły na ton
“Legal organic revenue accelerated to 10%, driven by continued strong law firms momentum and improved government growth.”
“We are confident in the full year margin outlook and see strong year-over-year margin expansion in the fourth quarter, driven by the impact of severance actions in recent quarters, growing...”
“As Steve indicated, we see this as a positive development as it will leave a stronger and more focused portfolio with improved growth and a higher quality revenue mix.”
Liczby
USD · ROIC.AI fundamentals (NASDAQ:TRI, period end 2026-06-30)
| Pozycja | II kw. 2026period end 2026-06-30 | I kw. 2026period end 2026-03-31 | Zmiana | II kw. 2025 | r/r |
|---|---|---|---|---|---|
| Przychody | 1,95 mld | 2,09 mld | −6,4% | 1,78 mld | +9,5% |
| Zysk brutto ze sprzedaży | 1,47 mld | 1,59 mld | −8,0% | — | |
| Zysk operacyjny | 560,0 mln | 636,0 mln | −11,9% | 436,0 mln | +28,4% |
| Zysk netto | 448,0 mln | 459,0 mln | −2,4% | 313,0 mln | +43,1% |
| Zysk na akcję | 1,02 | 1,05 | −2,8% | 0,69 | +47,7% |
| C/Z | — | — | — | — | — |
Tematy
Najczęściej omawiane teraz
- Legal Professionals, excluding government, again, grew 11%, matching the first quarter growth rate and up 9% in the second half...
- You may access these documents on Thomson Reuters' website or by contacting its Investor Relations department.
- Legal Professionals organic revenue accelerated to 10%, as underlying law firm momentum continued and government growth improved…
- The strength was broad-based with Thomson Reuters' large, mid, small law and international subsegments, all at or near record growth rates.
- Daily usage tick up in really healthy ways
Zniknęło od I kw. 2026
- Zniknęło Safe Sign is a collection of of scientists working under the direction of Jonathan Schwarz who's a Google DeepMind researcher.
- Słabnie Thomson Reuters remains committed to a balanced capital allocation approach, and it continues to assess a number of inorganic opportunities…
- Słabnie Through 8 months, adoption is running faster than what Thomson Reuters has seen with the 2 prior Westlaw upgrade cycles, contributed...
- Słabnie As a reminder, the sequential decline in Thomson Reuters' margin into Q2 is primarily due to the normal seasonality of its...