Thomson Reuters sees FY24 revenue up 6.5%, consensus $7.19B

Sees FY24 adjusted EBITDA margin 38%. Sees FY24 free cash flow $1.8B. Sees FY24 adjusted tax rate 18%. The company said, “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.”