The revenue of WTW, a leading global advisory, broking and solutions company, for the second quarter was USD 2.47 billion, an increase of 9% compared to USD 2.26 billion for the same period in the prior year.

According to the WTW’s second quarter earnings report, excluding the impact of foreign currency, revenue increased 8%. On an organic basis, revenue increased 5%.

Net income for the second quarter of 2026 was USD 231 million compared to USD 332 million in the prior-year second quarter. Adjusted EBITDA for the second quarter was USD 529 million, or 21.5% of revenue, an increase of 13%, compared to Adjusted EBITDA of USD 470 million, or 20.8% of revenue, in the prior-year second quarter. The U.S. GAAP tax rate for the second quarter was 19.8%, and the adjusted income tax rate for the second quarter used in calculating adjusted diluted earnings per share was 19.6%.

Cash flows from operating activities were USD 474 million for the six months ended June 30, 2026, compared to USD 326 million in the prior year. Free cash flow for the six months ended June 30, 2026 and 2025 was USD 360 million and USD 217 million, respectively, an increase of USD 143 million. The increase was primarily driven by operating margin expansion. During the quarter ended June 30, 2026, the Company repurchased 1,733,574 of its outstanding shares for USD 450 million.

The report key takeaways:

• Revenue increased 9% from prior year to USD 2.5 billion for the quarter
• Organic Revenue growth of 5% for the quarter
• Diluted Earnings per Share was USD 2.43 for the quarter, down 27% over prior year
• Adjusted Diluted Earnings per Share was USD 3.35 for the quarter, up 17% over prior year
• Operating Margin was 14.8% for the quarter, down 150 basis points from prior year
• Adjusted Operating Margin was 19.5% for the quarter, up 100 basis points from prior year
• Announced Propel, WTW's AI Acceleration Plan, to further scale AI and automation across WTW, targeting approximately 30% Adjusted Operating Margin in 2028 while positioning the Company for future growth
• Increased existing share repurchase authority by USD 1.5 billion.

“WTW delivered solid second quarter results, reflecting business momentum and disciplined execution”, commented Carl Hess, WTW’s Chief Executive Officer. “This performance underscores the meaningful progress we've made embedding AI and automation across our business, enabling us to deliver higher-value client solutions and a more compelling colleague experience. Propel, WTW's AI Acceleration Plan announced today, builds on that foundation and is intended to further accelerate performance and enhance efficiency, creating value for shareholders and further strengthening WTW's differentiated position in the market. We remain confident in delivering on our full-year 2026 guidance and achieving our new 2028 margin target”, the CEO added.

The full report can be found here.