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Willis Towers Watson 8-K Report, Financial Results (Apr 30, 2026)

Reports
Earnings & Results·Regulation FD·Exhibits & Filings
Filing Date
Filed April 30, 2026
Period End
April 30, 2026
Security
WTW
In the record · 2016–202610-K1210-Q338-K148

WTW filed 12 annual reports (10-K), 33 quarterly reports (10-Q) and 148 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Sep ’18Sep ’18
  2. Deal closed8-K · Oct ’20Oct ’20
  3. Leadership change8-K · Dec ’22Dec ’22
  4. Leadership change8-K · Mar ’25Mar ’25

01—Abstract

Summary

Summary of the 8-K filed April 30, 2026. Cited figures are marked; the original filing is the authoritative source.

WTW (NASDAQ: WTW), filing under Willis Towers Watson Public Limited Company, reported first quarter 2026 results on April 30, 2026.

Revenue rose 8% to $2.41 billiona from $2.22 billion, with constant currency growth of 4% and organic growth of 3%. Diluted EPS was $3.10, up 33% from $2.33, while Adjusted Diluted EPS was $3.72, up 19% from $3.13. Operating margin was 18.6%, down 80 basis points, while Adjusted Operating Margin was 22.3%, up 70 basis points.

Net income rose to $303 millionb from $239 million. Cash flow remained negative for the quarter, with cash used in operating activities of $10 million and free cash flow of $(65) million, compared with $(86) million a year earlier. The company repurchased $300 million of shares during the quarter and paid $88 million in dividends.

Cash and cash equivalents fell to $1,855 millionc from $3,132 million at year-end 2025, largely reflecting $792 million in acquisitions, and total debt was $6,304 million versus $6,306 million at December 31, 2025. Management reaffirmed its 2026 outlook, including expected share repurchases of $1.0 billion or greater, roughly $0.30 of EPS headwind from the Willis Re joint venture, about $0.10 of dilution from the Newfront acquisition, and an expected foreign currency tailwind of about $0.35 to Adjusted Diluted EPS for the full year. Management cited geopolitical uncertainty in the Middle East as weighing on Career organic revenue.

02—Key points

Key Highlights

  1. Revenue increased 8% to $2.41 billion; organic revenue grew 3% and constant currency growth was 4%.
  2. Diluted EPS rose 33% to $3.10; Adjusted Diluted EPS rose 19% to $3.72.
  3. Adjusted Operating Margin expanded 70 basis points to 22.3%, while reported Operating Margin declined 80 basis points to 18.6%.
  4. Free cash flow was $(65) million versus $(86) million a year earlier, and cash used in operating activities was $10 million.
  5. The company repurchased $300 million of shares in Q1 and paid $88 million in dividends; it expects 2026 share repurchases of $1.0 billion or greater.
  6. Risk & Broking organic revenue grew 2%, and Health, Wealth & Career organic revenue grew 3%, with Career organic revenue declining amid Middle East geopolitical uncertainty.
  7. 2026 guidance includes a ~$0.30 EPS headwind from the Willis Re joint venture, ~$0.10 dilution from Newfront, and a ~$0.35 full-year FX tailwind to Adjusted Diluted EPS.

03—Questions

Frequently Asked Questions

  1. How did WTW perform in the first quarter of 2026?

    Revenue rose 8% to $2.41 billion, with 3% organic growth. Net income was $303 million, up from $239 million, and Diluted EPS was $3.10, up 33%. Adjusted Diluted EPS was $3.72, up 19%.

  2. Why did reported operating margin decline while adjusted operating margin improved?

    Reported operating margin fell 80 basis points to 18.6%, reflecting $41 million of transaction and integration expenses in the quarter. Adjusted Operating Margin, which excludes amortization and these transaction and integration expenses, rose 70 basis points to 22.3%.

  3. What is WTW's capital return outlook for 2026?

    WTW expects share repurchases of $1.0 billion or greater in 2026, subject to market conditions and potential capital allocation to organic and inorganic investment opportunities. In Q1 it repurchased $300 million of shares and paid $88 million in dividends.

  4. What headwinds and tailwinds did management identify for 2026 earnings?

    Management expects the Willis Re joint venture to be a headwind of about $0.30 to Adjusted Diluted EPS and the Newfront acquisition to be about $0.10 dilutive in 2026. It expects a foreign currency tailwind of about $0.10 for the remainder of 2026, or about $0.35 for the full year at current rates.

  5. How did cash flow and the balance sheet change in the quarter?

    Free cash flow was $(65) million, compared with $(86) million a year earlier. Cash and cash equivalents fell to $1,855 million from $3,132 million at December 31, 2025, after $792 million of acquisition spending, while total debt was $6,304 million.

04—Continue

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