Willis Towers Watson Posts 27% Q1 Net Income Growth to $303m With $300m Buyback
WTW•Willis Towers Watson reported Q1 net income of $303m, a 27% increase, on revenue of $2.41bn, up 8%, with adjusted EBITDA rising to $589m and margin expanding to 24.4%. It bought back $300m of shares, projects 100bps margin expansion, and expects Newfront to add $250m revenue in 2026.
1. Q1 Financial Results
Willis Towers Watson delivered net income of $303 million in Q1 2026, up 27% from $239 million year-over-year, on revenue of $2.41 billion, marking an 8% increase. Adjusted EBITDA rose to $589 million, lifting the margin to 24.4% from 23.9% in Q1 2025.
2. Segment Performance
In the Risk & Broking division, revenue reached $1.12 billion, a 9% increase including 3% constant currency and 2% organic growth, driven by new business wins and client retention across global markets. Health, Wealth & Career revenue rose to $1.27 billion, up 9% on 5% constant currency and 3% organic growth, supported by software sales and new business wins.
3. Share Buyback and Guidance
The company repurchased $300 million of common shares during the quarter and signaled ongoing margin expansion, projecting approximately 100 basis points of annual operating margin improvement in Risk & Broking and additional gains in Health, Wealth & Career.
4. Newfront Acquisition Outlook
Following its $1.3 billion agreement to acquire Newfront, WTW expects the deal to add about $250 million in post-close revenue in 2026 with an adjusted EBITDA margin near 26%, while anticipating a roughly $0.10 reduction in adjusted EPS for the year.
