May 11, 2018 / 11:03 AM / 6 months ago

BRIEF-Thomson Reuters Q1 Adj EPS $0.28

May 11 (Reuters) - Thomson Reuters Corp:

* THOMSON REUTERS REPORTS FIRST-QUARTER 2018 RESULTS

* ANNOUNCED A NEW $500 MILLION SHARE REPURCHASE PROGRAM

* QTRLY REVENUE $1.38 BILLION, UP 3 PERCENT AT CONSTANT CURRENCY

* Q1 IFRS LOSS PER SHARE, INCLUDING DISCONTINUED OPERATIONS, $0.48

* QTRLY REVENUE FROM LEGAL BUSINESS $872 MILLION, UP 2 PERCENT AT CONSTANT CURRENCY

* F&R IS CONSIDERED A DISCONTINUED OPERATION FOR FULL-YEAR 2018 AND IS EXCLUDED FROM COMPANY’S 2018 OUTLOOK

* QTRLY REVENUE FROM TAX & ACCOUNTING BUSINESS $437 MILLION, UP 5 PERCENT AT CONSTANT CURRENCY

* CORPORATE COSTS EXPECTED TO INCREASE OVER BALANCE OF YEAR AS CO EXPECTS TO RETAIN STRANDED COSTS AS PREVIOUSLY ANNOUNCED

* QTRLY REVENUE FROM REUTERS NEWS BUSINESS $72 MILLION, DOWN 7 PERCENT AT CONSTANT CURRENCY

* STRANDED COSTS ARE EXPECTED TO DECLINE TO $50 MILLION OR LESS BY 2020

* IN 2018 EXPECTS LOW SINGLE-DIGIT REVENUE GROWTH, AT CONSTANT CURRENCY

* NOW EXPECTS TO USE BETWEEN $3.0 BILLION AND $4.0 BILLION OF PROCEEDS FROM PROPOSED F&R TRANSACTION TO REPAY DEBT

* 2018 REVENUE GROWTH OUTLOOK EXCLUDES 2018 PAYMENT TO REUTERS NEWS FROM F&R FOLLOWING CLOSING OF TRANSACTION

* SAYS QTRLY CORPORATE COSTS AT ADJUSTED EBITDA LEVEL WERE $44 MILLION VERSUS. $53 MILLION IN PRIOR-YEAR PERIOD

* CURRENTLY EXPECTS TO USE $9 BILLION TO $10 BILLION OF ESTIMATED $17 BILLION OF GROSS PROCEEDS OF F&R DEAL TO RETURN CAPITAL TO SHAREHOLDERS

* IN 2018 EXPECTS ADJUSTED EBITDA TO RANGE BETWEEN $1.2 BILLION - $1.3 BILLION, AT CONSTANT CURRENCY

* IN 2018 EXPECTS TOTAL CORPORATE COSTS BETWEEN $500 MILLION AND $600 MILLION, AT CONSTANT CURRENCY

* IN 2018 EXPECTS CAPITAL EXPENDITURES OF APPROXIMATELY 10% OF REVENUES, AT CONSTANT CURRENCY

* EXPECTS INTEREST EXPENSE OF APPROXIMATELY $165 MILLION FOR FIRST HALF OF YEAR, AT CONSTANT CURRENCY

* SEES USING $1.5 BILLION TO $2.5 BILLION FOR: CASH TAXES, PENSION CONTRIBUTIONS, BOND REDEMPTION COSTS, FEES & OUTFLOWS RELATED TO F&R DEAL

* PLANS TO PROVIDE AN OUTLOOK FOR ITS SECOND HALF INTEREST EXPENSE AT A LATER DATE

* Q1 EARNINGS PER SHARE VIEW $0.27, REVENUE VIEW $1.36 BILLION — THOMSON REUTERS I/B/E/S

* 2018 CORPORATE COSTS OUTLOOK INCLUDES STRANDED COSTS AND INVESTMENTS TO REPOSITION CO FOLLOWING SEPARATION OF BUSINESSES

* A QUARTERLY DIVIDEND OF $0.345 PER SHARE IS PAYABLE ON JUNE 15, 2018

* Q1 IFRS LOSS REFLECTS AN $844 MILLION DEFERRED TAX CHARGE ASSOCIATED WITH F&R TRANSACTION

* ESTIMATES A CASH TAX PAYMENT OF ABOUT $300 MILLION WILL ARISE IN 2018 IN CONNECTION WITH CLOSING OF F&R TRANSACTION

* THOMSON REUTERS - IN 2018 EXPECTS DEPRECIATION AND AMORTIZATION OF COMPUTER SOFTWARE BETWEEN $500 MILLION AND $525 MILLION, AT CONSTANT CURRENCY Source text for Eikon: Further company coverage:

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