Willis Towers Watson (WLTW) Tops Q2 EPS by 18c, Revenues Beat

Willis Towers Watson (NASDAQ: WLTW) reported Q2 EPS of $1.88, $0.18 better than the analyst estimate of $1.70. Revenue for the quarter came in at $2 billion versus the consensus estimate of $1.98 billion.

Excluding the Revenue Standard Impact

• Reported Revenue was $2.0 billion an increase of 4%
• Organic Revenue increased 3%
• Net Income increased 117% to $89 million or 4.4% of revenue. Adjusted Net Income increased 26% to $249 million, a margin improvement of 218 basis points
• Adjusted EBITDA increased 10% to $427 million or 21.1% of revenue, a margin improvement of 130 basis points
• Diluted Earnings per Share increased 158% to $0.62
• Adjusted Diluted Earnings per Share increased 30% to $1.88
• For the first half of 2018 Cash Flows from Operating activities of $419 million
• For the first half of 2018 Free Cash Flow increased 39% to $278 million

Including the Revenue Standard Impact

• Reported Revenue was $2.0 billion
• Net Income was $65 million. Adjusted Net Income was $225 million
• Adjusted EBITDA was $392 million or 19.7% of revenue
• Diluted Earnings per Share were $0.44
• Adjusted Diluted Earnings per Share were $1.70
• For the first half of 2018 Cash Flows from Operating activities of $395 million
• For the first half of 2018 Free Cash Flow was $254 million

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

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