Q2 25 EPS
$2.86
BEAT +8.91%
Est. $2.63
Q2 25 Revenue
$2.26B
BEAT +1.07%
Est. $2.24B
vs S&P Since Q2 25
-32.7%
TRAILING MARKET
WTW -18.7% vs S&P +14.0%
Market Reaction
Did WTW Beat Earnings? Q2 2025 Results
Willis Towers Watson posted a convincing second-quarter 2025 earnings beat, with adjusted diluted EPS of $2.86 clearing the $2.63 consensus by 8.91% and revenue of $2.26 billion edging past estimates by 1.07%, even as reported revenue slipped a modes… Read more Willis Towers Watson posted a convincing second-quarter 2025 earnings beat, with adjusted diluted EPS of $2.86 clearing the $2.63 consensus by 8.91% and revenue of $2.26 billion edging past estimates by 1.07%, even as reported revenue slipped a modest 0.2% year over year. The headline softness was largely cosmetic, driven by the absence of TRANZACT following its year-end 2024 divestiture; underneath that structural shift, WTW generated 5% organic revenue growth, with the Risk & Broking segment posting 7% reported growth and Health, Wealth & Career achieving 8% organic expansion in its Health division. Adjusted operating margin widened 150 basis points to 18.5%, reflecting Transformation program savings and operating leverage, while aggressive capital returns, including $500 million in share repurchases during the quarter, helped lift per-share results. Analysts have since nudged 2025 EPS estimates higher following the results. Looking ahead, management reaffirmed its framework targeting mid-single-digit organic revenue growth, continued margin expansion, and approximately $1.5 billion in full-year share buybacks.
Key Takeaways
- • 5% organic revenue growth across both segments
- • Adjusted operating margin expansion of 150 basis points to 18.5%
- • Near-elimination of transaction and transformation costs ($2M vs $97M prior year)
- • Strong new business activity and client retention globally in Corporate Risk & Broking
- • Health segment delivered double-digit organic growth outside North America
- • Share count reduction from buybacks (100M vs 103M diluted shares)
- • Transformation program savings driving operating leverage
WTW YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
WTW Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our strong second quarter results demonstrate the meaningful progress we've made towards advancing our strategy, helping deliver solid topline results, along with margin and earnings growth.”
— Carl Hess, Q2 2025 Earnings Press Release
WTW Earnings Trends
WTW vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
WTW EPS Trend
Earnings per share: estimate vs actual
WTW Revenue Trend
Quarterly revenue: estimate vs actual
WTW Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $3.72 | — | $2.41B | -0.53% |
| Q4 25 BEAT FY | $7.97 | $8.12 | +1.88% | $2.94B | +2.34% |
| FY Full Year | $16.96 | $17.08 | +0.74% | $9.71B | +0.70% |
| Q3 25 BEAT | $3.05 | $3.07 | +0.69% | $2.29B | +0.16% |
| Q2 25 BEAT | $2.63 | $2.86 | +8.91% | $2.26B | +1.07% |
| Q1 25 MISS | $3.19 | $3.13 | -1.84% | $2.22B | -2.92% |