WTW - Willis Towers Watson Non-GAAP EPS of $2.84 beats by $0.04 revenue of $2.2B misses by $20M

2023-04-27 06:03:12 ET

• Willis Towers Watson press release ( NASDAQ: WTW ): Q1 Non-GAAP EPS of $2.84 beats by $0.04 .
• Revenue of $2.2B (+4% Y/Y) misses by $20M .
• Revenue increased 4% to $2.2 billion with organic growth of 8%
• Adjusted Operating Margin was 18.6% for the quarter, up 140 basis points over prior year

• Based on current and anticipated market conditions, the Company's full-year targets for 2023 are as follows:

  • Expect to deliver mid-single digit organic revenue growth
  • Expect to deliver adjusted operating margin expansion for the full year 2023
  • Expect to deliver approximately $100 million of incremental run-rate savings from the Transformation Program in 2023
  • Expect approximately $112 million in non-cash pension income for the full year 2023
  • Expect a foreign currency headwind on adjusted earnings per share of approximately $0.05 for the full year 2023 at today’s rates, up from $0.01 previously

For further details see: