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Willis Towers Watson (WTW) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 29, 2026
Willis Towers Watson (WTW) reported revenue of $2.5B for the third quarter 2026 (Q3 2026), +8% from a year earlier and -0.2% from the quarter before. Operating margin was 17.4%, net earnings $303M (12.3% of revenue).
Willis Towers Watson, Q3 2026: revenue $2.5B (+8% year over year), operating margin 17.4%, net earnings $303M, operating cash flow $739M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.5B | -0.2% | +8% |
| Operating profit | $429M | +18% | +3% |
| Net earnings | $303M | +32% | -0.3% |
| Operating cash flow | $739M | +53% | +9% |
| Free cash flow | $675M | +59% | +9% |
What changed
Revenue was $2.5B in Q3 2026, up 8% year over year and roughly flat from the previous quarter. Health Wealth and Career was the largest line at 56% of revenue. Health Wealth and Career added $0.09B year over year (up 7%), 55% of the total change.
Operating profit was $0.43B, a 17.4% margin (down 0.8 points year over year). Of the extra revenue versus Q3 2025, 6% reached operating profit, below the 18% margin then. Total costs grew 9% against revenue growth of 8%. Net earnings were $0.30B, roughly flat year over year. The effective tax rate was 20.4%.
Operating cash flow was $0.74B (up 9% year over year), 239% of net earnings. Non-cash charges added back $0.11B of depreciation and amortization and $0.07B of share-based compensation. Working capital and other items added $0.25B. Capital expenditures of $0.06B left free cash flow of $0.68B.
Questions
What was Willis Towers Watson's revenue in the third quarter 2026?
Willis Towers Watson (WTW) reported revenue of $2.5B for the third quarter 2026 (Q3 2026), +8% from a year earlier and -0.2% from the quarter before.
Was Willis Towers Watson profitable in the third quarter 2026?
Operating profit was $429M (17.4% of revenue) and net earnings $303M.