Thomson Reuters Corporation (NYSE:TRI) Q1 2018 Earnings Conference Call - Final Transcript
May 11, 2018 • 08:30 am ET
Ladies and gentlemen, thank you for standing by and welcome to the Thomson Reuters First Quarter Earnings Call. [Operator Instructions].
I'd now like to turn the conference over to the Senior Vice President, Investor Relations, Frank Golden. Please go ahead.
Good morning, everyone and thank you for joining us today. Our CEO, Jim Smith; and our CFO, Stephane Bello will review the results for the first quarter in a moment. When we open the call for questions, we'd appreciate if you would limit yourselves to one question each to enable us to get to as many questions as possible.
Now there are several items to mention before we get started. Today's results are shown for our continuing operations, legal tax and latest news. Potential and risk business is reported for the first time and a discontinued operation and will continue to be shown that way until we close the transaction with Blackstone. Therefore, adjusted earnings per share no longer reflect any revenue or operating income contribution from the financial and risk business.
Now consistent with that treatment, our 2018 guidance is for our continuing operations and again does not include F&R. However, since we do not yet have a closing date for the financial and risk transaction, we're not able to provide guidance for interest expense for the second half of the year and we're also not including in our revenue guidance portion of the $325 million payment from that Reuters news we are seeing from the partnership post close.
We're also net yet in a position to provide specifics regarding the timing, size for the structure of the expected tenders. We anticipate providing details on the tender offer or SID in connection with the close of the transaction in the second half of the year.
Lastly, in today's press release we include a schedule that provides detailed first quarter results for the financial and risk business. The information included in that schedule will be provided each quarter following the close of the transaction. As a reminder, throughout today's presentation, when we compare performance period on period we discuss revenue growth rates before currency, as we believe this provides the best basis to measure the underlying performance of the business.
Now today's presentation contains forward-looking statements. Actual results may differ materially due to a number of risks and uncertainties discussed in reports and filings that we provide to regulatory agencies. You can access these documents on our website or by contacting our Investor Relations department.
Now I'll ask Jim Smith to take us through the results for the quarter.
James C. Smith
Thank you, Frank. Good morning and thanks to all of you for joining us today. Before we begin, I just want to say I don't think I ever so look forward to being in the seat for an earnings call. In fact, the only thing better this year, we're learning that our Reuters News team has been awarded [Indecipherable] surprises of our first day back in the office. So, I want to