Overview

• WTW Q3 revenue flat yr/yr at $2.3 bln, beating analyst expectations

• Adjusted EPS for Q3 rises 11% yr/yr, beating analyst expectations

• Company repurchased 1.85 mln shares for $600 mln during the quarter

Outlook

• WTW expects a foreign currency tailwind on adjusted EPS of ~$0.15 in Q4 2025

• Company anticipates share repurchases of ~$1.5 bln, subject to market conditions

• WTW projects ~100 bps annual margin expansion over next 3 yrs in R&B

Result Drivers

• ORGANIC REVENUE GROWTH - WTW achieved 5% organic revenue growth in Q3, driven by strong performance across segments

• MARGIN EXPANSION - Adjusted operating margin increased by 230 basis points to 20.4%, attributed to operating efficiencies and strategic execution

• SEGMENT PERFORMANCE - Health, Wealth & Career segment saw organic growth from Retirement work and new product wins, while Risk & Broking benefited from new business and project-based placements

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 7 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the multiline insurance & brokers peer group is "buy"

• Wall Street's median 12-month price target for Willis Towers Watson PLC is $380.00, about 16.4% above its October 29 closing price of $317.54

• The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release: ID:nGNX9RZK2q

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)