Thomson Reuters(US:TRI)2025-11-04 14:00Q3 2025 Performance Highlights - Thomson Reuters Q3 organic revenue grew by 7%, driven by a 9% increase in recurring revenue[13] - The "Big 3" (Legal, Corporates, and Tax & Accounting) experienced a 9% organic revenue growth[13] - Reported revenues increased by 3% to $1.8 billion[16] - Adjusted EBITDA increased by 10% to $672 million, with a margin of 37.7%, up 240 basis points[14] - Adjusted EPS increased by 6% to $0.85[14] Financial Outlook and Framework Updates - The company reaffirmed its FY 2025 outlook, expecting total and organic revenue to trend towards the lower end of the 3.0%-3.5% and 7.0%-7.5% ranges, respectively, while maintaining the Big 3 organic revenue growth outlook at approximately 9%[13] - For 2026, the company now anticipates adjusted EBITDA margin expansion of approximately 100 basis points and Free Cash Flow of approximately $2.1 billion[13] Capital Allocation and Liquidity - Thomson Reuters completed a $1.0 billion share buyback in October[13] - The company's net leverage stood at 0.6x as of September 30, with an estimated ~$9 billion of capital capacity by 2027[13] Segment Performance - Legal Professionals organic revenue grew by 9%, primarily driven by Westlaw and CoCounsel[13] - Corporates revenue increased by 10% to $0.5 billion[16] - Tax & Accounting Professionals revenue increased by 13% to $0.3 billion[16]