EarningsQ2 2026 Earnings Report
MX:WTWN Q2 2026 EPS Results
Actual EPS$60.84
Consensus EPS$56.52
Beat/MissBeat by +$4.32
One Year Ago EPS$51.94
MX:WTWN Q2 2026 Revenue Results
Actual Revenue$44.78B
Expected Revenue$43.89B
Beat/MissBeat by +$898.43M
YoY Revenue Growth+8.92%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
MX:WTWN Upcoming Earnings
Willis Towers Watson's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:WTWN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted solid top-line growth (5% organic), meaningful margin expansion (+100 bps), a 17% increase in adjusted EPS and strong free cash flow improvement in H1, supported by clear early wins from AI/automation and disciplined capital returns. Management announced a material, targeted AI acceleration program (Propel) with quantified savings and ambitious 2028 margin targets; while Propel should drive substantial long-term benefits, it brings near-term investment and execution risk. There are some sector-specific weaknesses (Career project declines in the Middle East, modest Wealth and BD&O growth) and a generally softer pricing environment across many insurance lines. On balance, positive operational momentum, quantified AI economics and margin guidance outweigh the localized and near-term headwinds.Company Guidance
Enterprise Organic Growth
WTW delivered 5% organic revenue growth in Q2 2026, with recent acquisitions contributing ~3 percentage points to reported growth.
Adjusted Operating Margin Expansion
Adjusted operating margin expanded 100 basis points year-over-year to 19.5% in Q2, driven by operating discipline and early AI/automation benefits.
Earnings Per Share Upside
Adjusted diluted EPS was $3.35 for Q2, up 17% versus the prior year quarter.
Segment Performance — Risk & Broking
Risk & Broking (R&B) grew 7% organically with operating margin of 22.2% (up 100 bps). Strong new business, retention and double-digit specialty growth led performance.
Segment Performance — Health, Wealth & Career
HWC grew 4% organically; Health grew 8% organically. HWC operating margin was 24.1%, up 30 basis points year-over-year.
Free Cash Flow and Capital Return
Free cash flow for the first half was $360 million, up $143 million from $217 million a year earlier (~66% increase). The company repurchased $450 million of shares in the quarter and paid $90 million in dividends; it expects at least $1 billion in share repurchases for the full year (subject to market conditions).
Propel AI Acceleration Plan (Strategic Investment)
Announced 'Propel' — a companywide AI/automation acceleration: ~$625 million cash investment to capture ~$400 million in run-rate savings (roughly 1.6x cash-cost-to-achieve), with ~$50 million of savings to be reinvested, producing ~$350 million net run-rate savings by end of 2028 and targeting ~30% enterprise adjusted operating margin in 2028.
Tangible AI/Automation Early Wins
Multiple live AI capabilities: Rewards AI >5,000 client users (doubled vs prior quarter); Violet Suite served >12 million plan participants, increased benefit decision support usage by 52% and reduced participant follow-ups by 60%; scheduling and document tasks in R&B reduced from hours/weeks to minutes via Neuron/Willis Navigator; retirement valuations time reduced 7% in 2025.
M&A and Integration Progress
Completed acquisition of SMB Scala & Mansutti (Italy); Newfront integration on track with cost synergies pacing modestly ahead of plan and its Navigator technology integrated into Neuron.
ICT and Software Momentum
Insurance Consulting & Technology (ICT) grew 6% organically in Q2, driven by strong software sales and multiyear deals.
MX:WTWN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed