Thomson Reuters (TRI) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 3, 2022, 9:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, and welcome everyone to the Thomson Reuters, First Quarter 2022, Earnings Call. My name is Matt, and I will be your Operator today. During the presentation, your lines will remain on listen-only. [Operator Instructions]. I'd like to advice all parties that this conference is being recorded. And with that, let me hand it over to Gary Bisbee, Head of Investor Relations. Please go ahead, sir.

Gary Bisbee

Thank you, Matt. Good morning, everyone, and thank you for joining us today for our first quarter 2022, Earnings Call. I'm joined by our CEO, Steve Hasker, and our CFO, Michael Eastwood, each of whom will report our results and take your questions following their remarks. Today, we'll have to get through as many questions as possible. We'd appreciate it if you'd limit yourself to one question and one follow-up when we open the phone lines later. Throughout today's presentation, when we compare performance period-on-period, we discuss revenue growth rates before currency, as well as on an organic basis. We believe this provides the best basis to measure the underlying performance of our business. Today's presentation contains forward-looking statements and non-IFRS financial measures. Actual results may differ materially due to a number of risks and uncertainties discussed in reports and filings that we provide from time-to-time to regulatory agencies. You may access these documents on our website or by contacting our Investor Relations Department. Let me now turn it over to Steve Hasker.

Steve Hasker

Thank you, Gary and thanks to all of you for joining us today. Before I begin with a review of our Q1 results, I must recognize a Reuters news colleagues and express our great appreciation for the difficult but important work that they're doing on the ground in Ukraine to provide a school with unbiased and reliable news, video imagery. Their efforts, which comments significant personal risk exemplify the best of our company purpose, which as you know, is to inform the way forward in the principles of trust and transparency that all of us at Thomson Reuters, a chart aspire to achieve. Now on to our Q1 highlights. I'm pleased to report that the momentum that built throughout 2021 continued in the first quarter of 2022, with by sales and revenue exceeding our expectations. Four of our five business segments again, recorded organic revenue growth of 6% or greater and the total company organic revenues grow 7%. A big three business segments also grew 7% organically. We have growing conviction that our businesses are benefiting from a significant prevailing tailwind driven by a step change in the complexity of regulation and compliance in our legal tax and risk related markets. The resulting need to trusted, accurate, and actionable content and technology plays to our strengths.