Willis Towers Watson Beats Q3 Earnings Estimates

Willis Towers Watson reported third-quarter 2026 revenue of about $2.46 billion, up 7.5% year over year, and adjusted earnings per share of $3.63, beating estimates. Adjusted operating margin expanded 150 basis points to 21.9%, while net income was roughly flat at $303 million. Management said organic growth and expense discipline supported the results, and its Propel initiative aims to deliver about $350 million in net annualized savings and help raise adjusted margins to roughly 30% by 2028, with most benefits expected from 2027 onward. The outlook was mixed: commercial insurance rate softening and delays in large Benefits Delivery & Outsourcing projects weighed on some business expectations, while Risk & Broking continued to grow. WTW also reported stronger year-to-date free cash flow and substantial share repurchases.