Press release
Willis Towers Watson Reports Solid First Quarter 2020 Earnings
Withdrawing Guidance Due to COVID-19 Uncertainties Total revenue1 increased 7% to $2.5 billion with constant currency growth of 8% and organic growth of
About this update from Willis Towers Watson Public Limited Company
[{"type":"text","content":"Withdrawing Guidance Due to COVID-19 Uncertainties\nTotal revenue1 increased 7% to $2.5 billion with constant currency growth of 8% and organic growth of 4%Diluted Earnings per Share were $2.34 for the quarter, up 6% over prior yearAdjusted Diluted Earnings per Share were $3.34 for the quarter, up 12% over prior yearIncome from Operations was $360 million or 14.6% of revenue, down 90 basis points over prior yearAdjusted Operating Income was $525 million or 21.3% of revenue, flat compared to prior year ARLINGTON, Va. and LONDON, April 30, 2020 (GLOBE NEWSWIRE) -- Willis Towers Watson (NASDAQ: WLTW) (the “Company”), a leading global advisory, broking and solutions company, today announced financial results for the first quarter ended March 31, 2020.\n “Willis Towers Watson executed well in the first quarter while navigating the unprecedented challenges brought on by the COVID-19 pandemic,” said John Haley, Willis Towers Watson’s chief executive officer. “I would like to personally acknowledge and thank our colleagues for remaining steadfast in supporting our clients and each other through a very challenging environment. We are dealing with extraordinary times, but I am pleased to say our resilience, experience and business continuity plans have enabled us to operate at a high level globally, and we believe we remain well-positioned to manage through this difficult period, while continuing to serve our clients, engage our colleagues and deliver value for our shareholders.\" First Quarter Company Highlights Revenue was $2.47 billion for the first quarter of 2020, an increase of 7% (8% increase constant currency and 4% organic) as compared to $2.31 billion for the same period in the prior year. Income from operations for the first quarter was $360 million, or 14.6% of revenue, a decrease of 90 basis points compared to the first quarter of the prior year. Adjusted operating income was $525 million, or 21.3% of revenue, flat compared to the first quarter of the prior year. Net income attributable to Willis Towers Watson for the first quarter of 2020 was $305 million, an increase of 6% from $287 million for the prior-year first quarter. For the quarter, diluted earnings per share were $2.34 and adjusted diluted earnings per share were $3.34. Net income attributable to Willis Towers Watson and diluted earnings per share for the first qua...
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