Willis Towers Watson PLCStrong Q2 results with 5% organic growth, margin expansion, and EPS beat, plus $450M buyback.

Willis Towers Watson reported second-quarter results featuring 5% organic revenue growth, a 100-basis-point expansion in adjusted operating margin to 19.5%, and a 17% increase in adjusted diluted earnings per share to $3.35. The company also unveiled Propel, an AI acceleration plan expected to generate $400 million in run-rate savings and deliver $350 million in net savings by 2028, providing a path to an adjusted operating margin of approximately 30% in 2028. Within its segments, Risk and Broking achieved 7% organic growth driven by broad-based strength, while Health, Wealth and Career grew 4% organically, led by an 8% increase in Health. Free cash flow for the first half reached $360 million, up from $217 million a year earlier, and the company repurchased $450 million in shares during the quarter. The Propel plan will require about $625 million in cash investment, creating free cash flow headwinds until 2029, but management expressed confidence in mid-single-digit organic growth guidance and highlighted early AI-driven efficiencies such as reducing schedule generation from four hours to five minutes.
Willis Towers Watson PLCStrong Q2 results with 5% organic growth, margin expansion, and EPS beat, plus $450M buyback.