By Adriano Marchese
Thomson Reuters Corp. said Tuesday that it has upgraded its guidance for this year and next after its 2021 performance strengthened its outlook for the future.
The Toronto-based media conglomerate said it now expects total revenue growth to be 5% in 2022, and between 5.5% and 6% in 2023. Previously, the company had set a range of between 4% and 5% in 2022 and between 5% and 6% for 2023.
In 2021, the company reported total revenue growth of 6.1%.
Additionally, expectations for adjusted earnings before interest, taxes, depreciation and amortization margin were also upgraded. It expects 35% growth in 2022 and growth to be between 39% and 40% in 2023, it said.
Previously, the company guided for growth to be between 34% and 35% in 2022 and between 38% and 40% in 2023.
In 2021, adjusted Ebitda margin was 31%.
Free cash flow is expected to be $1.3 billion in 2022, and between $1.9 billion and $2 billion in 2023, the company said. This compares with $1.3 billion reported in 2021.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
02-08-22 0730ET