WTW Q1 revenue slightly misses estimates, adjusted EPS beats

Willis Towers Watson

30/04/2026 11:08

Overview

UK advisory and broking firm's Q1 revenue up 8% yr/yr, slight miss vs analyst expectations

Adjusted EPS for Q1 beat analyst expectations

Company repurchased $300 mln of shares in Q1

Outlook

WTW expects share repurchases of $1 bln or greater in 2026, subject to market conditions

Company anticipates continued annual margin expansion at enterprise level, with ~100 bps in R&B

WTW expects a ~$0.35 foreign currency tailwind to adjusted diluted EPS for full-year 2026

Result Drivers

HEALTH & WEALTH SEGMENT GROWTH - Organic revenue growth in Health driven by new business wins and renewals internationally, and in Wealth from higher retirement work and investments business

SOFTER DEMAND IN CAREER & OUTSOURCING - Career organic revenue declined as clients deferred discretionary work amid geopolitical uncertainty; Benefits Delivery & Outsourcing organic revenue declined modestly due to lower commissions

MARGIN EXPANSION - Margin improvement attributed to operating leverage, expense discipline, and foreign exchange impact

Company press release: ID:nGNX7wxd7p

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Miss*
$2.41 bln
$2.43 bln (12 Analysts)
Q1 Adjusted EPS
Beat
$3.72
$3.67 (18 Analysts)
Q1 EPS
$3.10
Q1 Adjusted Operating Margin
22.30%
Q1 Operating Margin
18.60%
Q1 Organic Growth
3.00%


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 7 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the multiline insurance & brokers peer group is "buy"

Wall Street's median 12-month price target for Willis Towers Watson PLC is $355.00, about 22.4% above its April 29 closing price of $290.11

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 17 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)