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WTW · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue grew 9.1% y/y to $2.47B, operating margin 14.8% vs 16.3%, net income $229M (−30.8% y/y).
Net income attributable to WTW
$229M
down 30.8% y/y
Revenue
$2,466M
up 9.1% y/y
Income from operations
$364M
down 1.1% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Revenue | $2,466 · +9.1% |
| Salaries and benefits | $1,551 · +7.0% |
| Other operating expenses | $380 · +13.1% |
| Depreciation | $55 · −3.5% |
| Amortization | $55 · +12.2% |
| Transaction and integration expenses | $61 · ×31 |
| Income from operations | $364 · −1.1% · 14.8% margin |
| Interest expense | $78 · +21.9% |
| Other income/(loss), net | $6 · −33.3% |
| Income from operations before income taxes and interest in earnings of associates | $292 · −6.7% |
| Provision for income taxes | $57 · vs −$21 · 19.5% effective rate |
| Interest in earnings of associates, net of tax | $4 · +100% |
| Income attributable to non-controlling interests | $2 · +100% |
| Net income attributable to WTW | $229 · −30.8% · $2.43/sh · 9.3% margin |
Verdict: revenue grew 9.1% y/y to $2.47B, operating margin 14.8% vs 16.3%, net income $229M (−30.8% y/y).
WTW increased its existing share repurchase authority by $1.5 billion.
Source and notation
Source: Willis Towers Watson Public Limited press release, 8-K EX-99.1 of 07/30/2026 (SEC EDGAR). Every figure was matched against the income statement in the release and checked against SEC XBRL.
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Chart: “WTW Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/wtw/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/wtw/q2-2026"><img src="https://whoreportstoday.com/t/wtw/q2-2026/sankey.png" alt="WTW Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/wtw/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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<a href="https://whoreportstoday.com/t/wtw/q2-2026">WTW Q2 2026 earnings chart (Who Reports Today)</a>
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- Organic revenue growth was 5%, and adjusted diluted EPS was $3.35, up 17%.
- Operating income was $364M, a 14.8% margin vs 16.3% a year earlier.
- Diluted EPS was $2.43 vs $3.32 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
WTW — an Ireland-domiciled advisory, insurance broking and solutions company that serves corporations and institutions worldwide.
It reports two segments: Health, Wealth & Career (advice and technology for employee benefits, retirement, investment and pay), which brought 55% of 2025 revenue, and Risk & Broking (insurance and reinsurance broking and risk consulting). · Source: annual report (Form 10-K, SEC)
Heads-up
- net income fell 31% y/y in Q2 2026
Net income for Q2 2026: $229M, −31% y/y. In the report's figures: costs grew faster than revenue: interest expense +22% y/y, interest in earnings of associates, net of tax +100% y/y, income attributable to non-controlling interests +100% y/y. Based on the Q2 2026 report.
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