---
title: "Thomson Reuters Expects FY24 Revenue Growth of ~ 6.5% Vs $7.19B Est and Organic Revenue Growth of ~ 6%, Q1 Organic Revenue Growth of ~8%"
description: "Thomson Reuters expects FY24 revenue growth of approximately 6.5% and organic revenue growth of around 6%. Q1 organic revenue growth is projected to be about 8%. The company anticipates an adjusted EB"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/107731643.md"
published_at: "2024-02-08T11:38:07.000Z"
---

# Thomson Reuters Expects FY24 Revenue Growth of ~ 6.5% Vs $7.19B Est and Organic Revenue Growth of ~ 6%, Q1 Organic Revenue Growth of ~8%

> Thomson Reuters expects FY24 revenue growth of approximately 6.5% and organic revenue growth of around 6%. Q1 organic revenue growth is projected to be about 8%. The company anticipates an adjusted EBITDA margin of around 40% and operates in an uncertain macroeconomic environment. The 2025-2026 financial framework targets organic revenue growth of 6.5%-8% and adjusted EBITDA margin expansion.

**2024 Outlook**

The company's outlook for 2024 in the table below assumes constant currency rates and incorporates the recent Pagero and World Business Media acquisitions but excludes the impact of any future acquisitions or dispositions that may occur during the remainder of the year. Thomson Reuters believes that this type of guidance provides useful insight into the anticipated performance of its businesses.

The company expects its first-quarter 2024 organic revenue growth to be approximately 8%, boosted by the expectation for additional AI licensing revenue at Reuters. The company also anticipates an adjusted EBITDA margin of approximately 40%, benefiting from normal seasonal strength and the Reuters licensing revenue, partially offset by M&A dilution and select growth investments.

The company continues to operate in an uncertain macroeconomic environment, reflecting ongoing geopolitical risk, uneven economic growth and an evolving interest rate and inflationary backdrop. Any worsening of the global economic or business environment could impact the company's ability to achieve its outlook.

***Reported Full-Year 2023 Results and Full-Year 2024 Outlook***

**Total Thomson Reuters**

**FY 2023**

**Reported**

**FY** **2024**

**Outlook**

Total Revenue Growth

3 %

~ 6.5%

Organic Revenue Growth(1)

6 %

~ 6%

Adjusted EBITDA Margin(1)

39.3 %

~ 38%

Corporate Costs

$115 million

$120 - $130 million

Free Cash Flow(1)

$1.9 billion

~ $1.8 billion

Accrued Capex as % of Revenue(1)

7.8 %

~ 8.5%

Depreciation & Amortization of Computer Software

Depreciation & Amortization of Internally

Developed Software

Amortization of Acquired Software

$628 million

$556 million

$72 million

$730 - $750 million

$595 - $615 million

~ $135 million

Interest Expense (P&L)

$164 million(2)

$150 - $170 million

Effective Tax Rate on Adjusted Earnings(1)

16.5 %

~ 18%

**"Big 3" Segments(1)**

**FY 2023**

**Reported**

**FY 2024**

**Outlook**

Total Revenue Growth

3 %

~ 8%

Organic Revenue Growth

7 %

~ 7.5%

Adjusted EBITDA Margin

43.8 %

~ 43%

  

  

(1)

Non-IFRS financial measures. See the "Non-IFRS Financial Measures" section below as well as the tables and footnotes appended to this news release for more information.

(2)

Full-year 2023 interest expense excludes a $12 million benefit from the release of a tax reserve that is removed from adjusted earnings.

**2025-2026 Financial Framework**

For the 2025-2026 period, the company targets an organic revenue growth range of 6.5%-8%, driven by 8%-9% for the "Big 3" segments. The company targets adjusted EBITDA margin expansion of approximately 75 basis points in 2025, followed by at least 50 basis points in 2026. It anticipates accrued capital expenditures as a percentage of revenues to be approximately 8%, and 2026 free cash flow to range from $2.0-$2.1 billion.

### Related Stocks

- [TRI.US - Thomson Reuters](https://longbridge.com/en/quote/TRI.US.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| RBC 表示，汤森路透有望通过人工智能和交易策略实现长期收益 | 汤森路透有望通过人工智能和交易策略实现长期收益，RBC 表示 | [Link](https://longbridge.com/en/news/275490602.md) |
| 别为美最高法推翻特朗普关税高兴太早？华尔街预计市场反应或昙花一现 | 美国股债汇波动相对温和的一个重要原因是，预测市场此前已倾向于这一裁决结果，且特朗普随后表示已有备用方案。虽然特朗普至少有五种替代的法律工具重新征收关税，但无论采取何种方式，都将对长期美债的收益率构成上行压力。 | [Link](https://longbridge.com/en/news/276487370.md) |
| 贝森特和沃什的 “导师”，德鲁肯米勒 Q4“精准” 开仓金融股 ETF、标普等权重 ETF 和巴西 ETF | 科技股方面，德鲁肯米勒 Q4 清仓了 Meta，加仓了谷歌与 Sea。德鲁肯米勒与贝森特、沃什的 “师徒” 关系让市场推测，“德鲁肯米勒经济学”——即反赤字、反通胀、反关税——可能通过贝森特和沃什渗透至政策制定中。 | [Link](https://longbridge.com/en/news/276214511.md) |
| 安德森斯｜10-K：2025 财年营收 110 亿美元不及预期 |  | [Link](https://longbridge.com/en/news/276269991.md) |
| 特朗普暗示违法征收的关税不退了，美财长称今年关税收入将 “基本保持不变” | 美国总统特朗普暗示不会退还被最高法院裁定违法的关税，预计 2026 年关税收入将保持不变。特朗普计划签署行政令，对全球商品加征 10% 进口关税，取代被推翻的关税。财长贝森特表示，政府将利用替代法律权力维持关税收入，强调国家安全和财政收入不 | [Link](https://longbridge.com/en/news/276494362.md) |

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.