Thomson Reuters Corp Q1 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Vince Valentini - TD Securities Equity Research - Analyst : A two-pronged question on the guidance as well, probably for Mike. The Corporates expense that you talked about normalizing, that looked like it was about $10 million to $15 million above the normal run rate in the first quarter. So by normalizing, does that mean we get a double swing in that amount in Q2? And I assume that's factored into the 38% margin you're talking about. And the second, just to clarify, almost a reverse of the SurePrep question is just the Elite, just to clarify here. That is a lower growth business, I think, maybe even very low single-digit revenue growth. So backing that out of your organic numbers, I assume is a slight tailwind to being able to meet the guidance for the year despite the other headwinds you've talked about? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 02, 2023 / 1:00PM, TRI.TO - Q1 2023 Thomson Reuters Corp Earnings Call

Question: Vince Valentini - TD Securities Equity Research - Analyst : Would it be like less than 0.25% or any sense of the magnitude?

Question: Maher Yaghi - Scotiabank Global Banking and Markets, Research Division - Analyst : I wanted to follow on Vince's question regarding the guidance. You evidently removed like about $100 million from your top line guidance. However, the free cash flow and EBITDA line remains unchanged. It seems like you had some cushion there in the guidance. Can you talk a little bit how much cushion you have related to the guidance if economic activity changes? And how much should we think about in terms of economic weakness before we can think that, that could affect your guidance for the year? And just a follow-up on -- like in terms of your holding on LSEG, you still have quite a bit of investment there. Can you remind us what your plans are to do with the remaining amount of cash as you divest of that business?