Thomson Reuters Corporation (NYSE:TRI) Q4 2022 Earnings Call Transcript

Michael Eastwood: In regards to the capital returns, just a point of clarification. The $2 billion NCIB or share buyback that we began in June of ’22, just to reiterate, that will be completed in early April. We’re about $1.5 billion complete with that. To your direct question on the return of capital, let me share the sequencing. Step 1 in the sequencing is the monetization of our LSEG shares. As I noted in our prepared remarks today, that will be appropriately measured tranches throughout 2023, meaning we’ll have a very disciplined approach there. So step 1 is the LSEG monetization. Step 2 is the return of capital. We’ll use the proceeds from the LSEG monetization to fund the return of capital. And then third, we’ll have the concurrent share consolidation, which will result in about $17 million reduction in share count based on today’s share price there. So the timing will be driven by the timing as to when we complete the LSEG monetizations.

Gary Bisbee: Great. I think we’ll end the call there. Thanks, everybody, for your time and attention, and feel free to reach out if you have any follow-ups. Have a good day.

Operator: Thank you for joining, everyone. That concludes your conference. You may now disconnect. Please enjoy the rest of your day. Goodbye.