Earnings Call
Aug 5, 2026
Q2 FY2026
EPS Estimate
0.96
EPS Actual
0.99
Post-Earnings Close
$98.61
Earnings Reaction
-9.7%
Thomson Reuters delivered another quarter of accelerating organic growth in Q2 2026, with the Big 3 segments, Legal Professionals, Corporates, and Tax, Audit & Accounting, collectively reaching 10% organic revenue growth, up from 9% in recent quarters. Total company organic revenues grew 8%, slightly ahead of management's own expectations, and adjusted EPS of $0.99 beat the consensus estimate of $0.96, rising 14% year-over-year. Free cash flow surged 29% to $727 million, driven by EBITDA growth and favorable working capital movements. On the strength of the first half, management raised full-year total and organic revenue growth guidance to approximately 8%, the high end of the prior 7.5%-8% range, and lifted the Big 3 outlook to 9.5%-10% from approximately 9.5% previously. Margin guidance of approximately 40% for the full year was maintained, though Q3 is expected to come in at roughly 36% due to $19 million in severance charges, elevated marketing spend for the CoCounsel brand campaign, and continued investment in automation and innovation.
Report generated on Aug 6, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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