Thomson Reuters beats by $0.11, reports revs in-line; reaffirms FY19 and FY20 outlook (60.99)
- Reports Q1 (Mar) earnings of $0.36 per share, excluding non-recurring items, $0.11 better than the S&P Capital IQ Consensus of $0.25; revenues rose 7.8% year/year to $1.49 bln vs the $1.5 bln S&P Capital IQ Consensus.
- Sees FY19 rev +7.0-8.5% ex-FX (+3.0-3.5% organic), EBITDA $1.4-1.5 bln.
- Sees FY20 rev +3.5-4.5% ex-FX, EBITDA (margin) 30-31%
- "The trajectory of the business continued to improve on the progress made last year. Revenue growth is tracking to our outlook. Recurring revenue growth is the strongest we have seen in several years. Net sales are strong and our book of business continues to grow. Our transformation initiatives are on track and we are seeing good underlying margin improvement. We remain confident in our ability to achieve our 2019 and 2020 targets