---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-23-004693"
form_type: "8-K"
ticker: "WTW"
cik: "0001140536"
company_name: "WILLIS TOWERS WATSON PLC"
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-12T23:47:06.044613+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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).

## SEC filing metadata
- accession: 0001171843-23-004693
- form_type: 8-K
- ticker: WTW
- cik: 0001140536
- company_name: WILLIS TOWERS WATSON PLC
- filed_at: 2023-07-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1140536/000117184323004693/0001171843-23-004693-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1140536/000117184323004693/f8k_072723.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-23-004693
- JSON: https://secwatch.observer/filing/0001171843-23-004693.json
- Plain text: https://secwatch.observer/filing/0001171843-23-004693.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1140536/000117184323004693/0001171843-23-004693-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.