Willis Towers Watson Public Limited Company (WTW) Earnings
Willis Towers Watson Public Limited Company is expected to report next earnings on July 30, 2026 (in NaN days), with a consensus EPS estimate of $3.15. WTW has beaten EPS estimates in 9 of its last 12 reported quarters (average surprise +3.3% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $3.65 | $3.72 | +1.9% | $2.4B | -0.1% |
| Feb 3, 2026 | $7.96 | $8.12 | +2.0% | $2.9B | +2.9% |
| Oct 30, 2025 | $3.05 | $3.07 | +0.7% | $2.3B | +0.6% |
| Jul 31, 2025 | $2.63 | $2.86 | +8.7% | $2.3B | +1.4% |
| Apr 24, 2025 | $3.21 | $3.13 | -2.5% | $2.2B | -2.6% |
| Feb 4, 2025 | $8.01 | $8.13 | +1.5% | $3.0B | -0.5% |
| Oct 31, 2024 | $2.72 | $2.93 | +7.7% | $2.3B | +0.3% |
| Jul 25, 2024 | $2.34 | $2.55 | +9.0% | $2.3B | -0.2% |
| Apr 25, 2024 | $3.25 | $3.29 | +1.2% | $2.3B | -1.2% |
| Oct 26, 2023 | $2.07 | $2.24 | +8.2% | $2.2B | +3.7% |
| Jul 27, 2023 | $2.38 | $2.05 | -13.9% | $2.2B | +1.5% |
| Apr 27, 2023 | $2.81 | $2.84 | +1.1% | $2.2B | +1.0% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Carl Hess noted appreciation for Middle East colleagues and commitment to supporting them. • WTW delivered 3% organic growth in Q1 with adjusted operating margin of 22.3% and $3.72 of adjusted diluted earnings per share. • Clients sought counsel to manage cost and risk. • AI enabled solutions are gaining scale, e.g., Rewards AI in HWC serves over 2,500 client users. • In risk and broking, implementing AI-powered operating system. • Introduced NuFront's technology to enhance front end. • Rolling out digital global claims platform in claims. • Notable client engagements in HWC and risk and broking. • Innovation for efficiency with tools like Call Note Assist and DocLM. • Spike Lipkin discussed AI strategy and integration of New Front.
Guidance
• Remain confident in long-term outlook and ability to accelerate performance. • Expect mid-single-digit growth for HWC, narrowed full-year outlook for CRB organic growth to mid-single digits, low to mid-single-digit growth for ICT. • Continue to expect share repurchases of at least $1 billion, subject to market conditions. • Expect to expand free cash flow margin.
Segment performance
Health, Wealth, and Career: Organic revenue increased 3% in Q1. Health had 6% revenue growth, wealth 4%, career declined 3%, benefits delivery and outsourcing declined 1%. HWC's operating margin was 27.3%, up 60 basis points. Risk and Broking: First quarter revenue growth was 2% compared to 7% in Q1 last year. CRB delivered organic growth of 2% for the quarter. Insurance Consulting and Technology: Revenue up 5% driven by increased technology sales. R&B's operating margin was 22.6% in Q1, an improvement of 60 basis points on a reported basis.
Risks & headwinds
• Mixed external conditions in Q1 including high healthcare inflation, regulatory changes, corporate transactions, geopolitical risk, economic uncertainty, market volatility, rapid technological change. • Middle East conflict caused clients to postpone advisory projects and some clients to pause discretionary spending. • Competitive pricing environment in risk and broking.
Analyst Q&A
Q: On R&B organic revenue slowdown and new business, expand on drivers and why confident in one-quarter slowdown.
A: R&B had 2% organic growth in Q1, softer growth due to strong prior year comparable and timing of new business. Pipeline conversion improved and returned to normalized growth in April.
Q: Follow-up on R&B margin, why expect margin improvement picking up.
A: Investments in technology provide platform for operating leverage and efficiency, AI and automation key drivers, examples like 90% reduction in endorsement processing time, launch of AI-powered operating system Neuron.
Q: On R&B growth and Middle East uncertainty, characterize impact.
A: Middle East has neutral impact with some project delays but offset by other activity, pricing a risk.
Q: On HWC outlook despite headwinds, what makes confident in mid-single-digit growth.
A: Health has 6% growth, wealth strong performance, career expected to improve, benefit from New Front and acquisitions.
Q: On AI tangible impacts, where to see first, milestones.
A: Near term workflow automation, medium term scaling new products and AI adoption, long term combining data and models.
Q: On R&B new business timing, size drag and confidence in mid-single-digit.
A: New business timing related, April shows normalized growth and confidence in mid-single digits.
Q: On carrier comments on broker commissions, response.
A: Brokerage prices reflect value, AI reduces effort but not value of relationships.
Q: On R&B Middle East exposure and share buyback capacity.
A: Middle East is small, share buyback guidance over $1 billion unchanged.