Thomson Reuters Backs 2016 Outlook

(RTTNews) - Thomson Reuters (TRI, TRI.TO) said that it re-affirmed its full-year business outlook for 2016, which was previously communicated in February 2016.

"We are tracking to our full-year target and are well positioned to help our customers navigate the global trends affecting their industries," said Jim Smith, president and chief executive officer of Thomson Reuters.

The company's 2016 Outlook assumed constant currency rates compared to 2015 and all metrics below (except for free cash flow) exclude the IP & Science business, which has been classified as a discontinued operation for 2016 reporting purposes.

The company continues to expect Low single-digit revenue growth, 2% to 3% revenue growth excluding Financial & Risk's recoveries revenues, which are low margin revenues and are expected to decline as partners move to direct billing with their customers.

It projects 2016 Adjusted EBITDA margin to be between 27.3% and 28.3%.

Underlying operating profit margin is still expected to between 18.4% and 19.4% for 2016.

It still anticipates Free cash flow to be in the range of $1.7 billion - $1.9 billion in 2016.

When the company reports its results for the third quarter of 2016, it plans to redefine adjusted earnings and adjusted EPS in relation to certain tax computations to better align these definitions with current market practices and to reflect guidance recently issued by the U.S. Securities and Exchange Commission. These changes will not impact the company's reporting of revenues, adjusted EBITDA, underlying operating profit or free cash flow.