Willis Towers Watson (WLTW) Tops Q1 EPS by 36c; Offers FY Adj. EPS Outlook

Willis Towers Watson (NASDAQ: WLTW) reported Q1 EPS of $3.71, $0.36 better than the analyst estimate of $3.35. Revenue for the quarter came in at $2.3 billion versus the consensus estimate of $2.3 billion.

GUIDANCE:

Willis Towers Watson sees FY2017 EPS of $8.40-$8.55.

Outlook for 2017

For 2017, the Company continues to expect constant currency revenue growth between 2% and 3% and Adjusted Diluted Earnings per Share in the range of $8.40 to $8.55.

Highlights:

• Reported Revenues increased 4% over prior year first quarter
• Adjusted Revenues increased 2% over prior year first quarter (5% constant currency)
• Net Income increased 43.7% to $352 million or 15.2% of revenues from $245 million or 11.0% of revenues for the prior year first quarter
• Adjusted EBITDA increased 5.5% to $708 million or 30.5% of revenues as compared to $671 million or 29.6% of Adjusted Revenues for the prior year first quarter
• Diluted Earnings per Share increased 43% to $2.50 from $1.75 for the prior year first quarter
• Adjusted Diluted Earnings per Share increased 9% to $3.71 from $3.41 for the prior year first quarter

For earnings history and earnings-related data on Willis Towers Watson (WLTW) click here.

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