WTW Q2 revenue up 6% but adjusted EPS down 12%; lowers 2024 margin and EPS targets

WILLIS TOWERS WATSON PLC

2023-Q2 EPS reported $2.77 revenue$4,403,000,000

Revenue $2.16B (+6% YoY, organic +7%); adjusted Diluted EPS $2.05 (down 12%).
Risk & Broking segment margin fell 360 bps to 16.1% on talent investments and higher travel.
Updated 2024 outlook: lowered adjusted operating margin and adjusted EPS targets.
2023 Transformation Program savings target raised to $160M from $100M; $53M realized in Q2.
Repurchased $350M shares in Q2; Lucy Clarke named Global Head of Risk & Broking (Q3 2024).

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

WILLIS TOWERS WATSON PLC reported the second quarter ended June 30, 2023 results: revenue Revenue was $2.16 billion, net income Net Income for the second quarter of 2023 was $96 million, EPS Diluted Earnings per Share were $0.88 for the quarter. Guidance lowered.

Period: the second quarter ended June 30, 2023
Revenue: Revenue was $2.16 billion
Net income: Net Income for the second quarter of 2023 was $96 million
EPS: Diluted Earnings per Share were $0.88 for the quarter
Guidance: lowered
Result: reported results

Exact text from the filing

basis except where stated otherwise. This excludes reinsurance revenue which is reported in discontinued operations. The segment discussion is on an organic basis. Revenue was $2.16 billion for the second quarter of 2023, an increase of 6% as compared to $2.03 billion for the same period in the prior year. Excluding the impact of foreign currency, revenue increased

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Source: SEC EDGAR

accession 0001171843-23-004693

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