Willis Towers Watson Withdraws 2020 Target on COVID-19 Crisis; Q1 Revenues Up 7%

Willis Towers Watson is withdrawing its 2020 guidance due to the uncertainties caused by the COVID-19 pandemic.

The broker said it will re-assess the guidance once it has a clearer understanding of the depth, duration, and geographic reach of the pandemic. “We cannot predict how long this situation will last and we’re focused on maintaining a strong balance sheet, liquidity, and financial flexibility.”

In its first quarter earnings report, Willis Towers Watson reported net income of $305 million, an increase of 6% from $287 million for the said period last year.

Revenues for the quarter rose by 7% to $2.47 billion, compared to $2.31 billion for the same period in the prior year.

Source: Willis Towers Watson