WTW Third-Quarter Revenue Rises 8% to $2.46 Billion: Net Income $309 Million, Adjusted EPS Up 18% to $3.63
WTW (NASDAQ: WTW), the global advisory, broking and solutions company, on October 29, 2026 reported financial results for the third quarter ended September 30, 2026: revenue was $2.46 billion, an increase of 8% compared with $2.29 billion in the prior-year quarter, and up 4% on an organic basis. Net income was $309 million, compared with $306 million a year earlier.
Operating income was $429 million, for an operating margin of 17.4%. Adjusted operating income rose to $539 million and the adjusted operating margin improved 150 basis points to 21.9%. Diluted earnings per share were $3.24, up 4%, while adjusted diluted EPS rose 18% to $3.63. Adjusted EBITDA was $577 million, or 23.5% of revenue, an increase of 12%.
Chief Executive Officer Carl Hess said WTW delivered another quarter of solid results in the face of a volatile market environment, reflecting the strength and resilience of the business, and that investments in talent, technology and innovation are differentiating WTW in the market and sustaining momentum, giving the company confidence in its ability to create durable long-term value.
By segment, Health, Wealth & Career revenue was $1.35 billion, up 7% as reported and 4% organically, with an operating margin of 29.5%. Health delivered organic growth across all regions, Wealth grew on Retirement strength outside North America and new client wins, and Career growth was driven mainly by higher compensation survey sales.
Risk & Broking revenue was $1.09 billion, up 8% as reported and 5% organically, with an operating margin of 19.8%. Corporate Risk & Broking posted organic growth on strong new business activity in North America and International markets, while Insurance Consulting and Technology grew on strong software sales in its Technology practice.
Cash flows from operating activities were $1.2 billion for the first nine months of 2026, and free cash flow was $1.1 billion, an increase of $226 million driven primarily by operating margin expansion. During the third quarter the company repurchased 687,386 shares for $220 million, and it expects full-year share repurchases in excess of $1.0 billion, subject to market conditions.
Headquartered in London, WTW serves more than 140 countries and markets, providing data-driven, insight-led solutions across people, risk and capital, including insurance broking, employee benefits, retirement and talent advisory services.
Source: GSM · USA (original Chinese edition)
Photo: 图：位于 Chicago 的 Willis Tower，该楼以 WTW 前身 Willis 集团命名（资料图）。照片：Ken Lund 摄，CC BY-SA 2.0，经 Wikimedia Commons。 / The Willis Tower in Chicago, named for the Willis Group, a predecessor of WTW (file photo). Photo: Ken Lund, CC BY-SA 2.0, via Wikimedia Commons.
