Willis Towers Watson (WLTW) Misses Q1 EPS by 4c, Revenues Miss

Willis Towers Watson (NASDAQ: WLTW) reported Q1 EPS of $2.98, $0.04 worse than the analyst estimate of $3.02. Revenue for the quarter came in at $2.31 billion versus the consensus estimate of $2.37 billion.

• Reported Revenue was $2.3 billion for the quarter, up 1% over prior year
• Organic Revenue increased 5% over prior year
• Diluted Earnings per Share were $2.20 for the quarter, up 37% over prior year
• Adjusted Diluted Earnings per Share were $2.98 for the quarter, up 10% over prior year
• Income from Operations was $359 million or 15.5% of revenue, up 420 basis points over prior year
• Adjusted Operating Income was $492 million or 21.3% of revenue, up 200 basis points over prior year

“We are pleased with our first-quarter financial results and the continued momentum in our business,” said John Haley, Willis Towers Watson’s chief executive officer. “We delivered strong organic revenue growth, reflecting solid demand for our solutions and services across all of our core businesses. Likewise, we made solid progress in driving profitable growth, as demonstrated by our year-over-year margin expansion. With the disciplined execution of our strategy, we remain confident in our ability to drive profitable growth and deliver value for our clients and shareholders.”

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

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