Willis Towers Watson Reports Second Quarter 2020 Earnings
Total revenue1 increased 3% to $2.1 billion with constant currency growth of 5% and flat organic revenue
Cash flows from operating activities were $685 million, up 126% compared to $303 million in the prior yearFree cash flow was $550 million, up 201% compared to $183 million in the prior yearDiluted Earnings per Share were $0.72 for the quarter, down 32% over prior yearAdjusted Diluted Earnings per Share were $1.80 for the quarter, up 1.0% over prior yearIncome from Operations was $163 million or 7.7% of revenue, down 90 basis points over the prior year quarterAdjusted Operating Income was $296 million or 14.0% of revenue, down 60 basis points compared to the prior year quarterARLINGTON, Va. and LONDON, July 30, 2020 (GLOBE NEWSWIRE) — Willis Towers Watson (NASDAQ: WLTW) (the “Company”), a leading global advisory, broking and solutions company, today announced financial results for the second quarter ended June 30, 2020.“I am pleased with our second quarter results. Our strong execution and our focus during this challenging environment helped us deliver another quarter of solid financial performance,” said John Haley, Willis Towers Watson’s chief executive officer. “We demonstrated the resilience of our overall business and diversified portfolio of offerings through continued revenue and earnings growth, robust free cash flow enhancement and a strengthened balance sheet. I would like to thank all the Willis Towers Watson colleagues for the outstanding commitment they have shown in the most difficult of circumstances. We are confident the actions we are taking in this challenging environment will enhance our agility and allow us to generate long-term value for all of our stakeholders.”Second Quarter Company Highlights
