Willis Towers Watson Public Limited Company (NASDAQ:WLTW) Q1 2019 Earnings Conference Call - Final Transcript

May 01, 2019 • 09:00 am ET


Willis Towers Watson Public Limited Company (NASDAQ:WLTW) Q1 2019 Earnings Conference Call - Final Transcript


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Good morning. Welcome to the Willis Towers Watson First Quarter 2019 Earnings Conference Call. Please refer to our website for the press release and supplemental information that was issued earlier today. Today's call is being recorded and will be available for the next three months on our website.

Some of the comments in today's call may constitute forward-looking statements within the meaning of the Private Securities Reform Act of 1995. These forward-looking statements are subject to risk and uncertainties. Actual results may differ materially from those discussed today, and the Company undertakes no obligation to update these statements unless required by law.

For a more detailed discussion of these and other risk factors, investors should review the forward-looking statements section of the earnings press release issued this morning as well as other disclosures of our most recent Form 10-K and in other Willis Towers Watson SEC filings. The Company will refer to non-GAAP financial measures. For reconciliations of the non-GAAP measures as well as other information regarding these measures, please refer to the most recent earnings release and other materials in the Investor Relations section of the company's website.

I'll now turn the call over to Mr. John Haley, Willis Towers Watson's Chief Executive Officer. Please go ahead.

John J. Haley

Okay, thank you. Good morning everyone and thank you for joining us on our first quarter earnings call. Joining me here today, Mike Burwell, our Chief Financial Officer, and Rich Keefe, Head of Investor Relations.

Today, we'll review our results for the first quarter of 2019 and the outlook for the remainder of the year. We are pleased with the results this quarter, we were able to generate strong organic top-line growth of 5% and this marks the third consecutive quarter in which we generated 5% more of organic revenue growth.

Moreover, this quarter we faced a challenging comparable of 6% organic revenue growth in the first quarter of 2018, despite that challenge we still managed to generate strong organic revenue growth and more important, we delivered profitable growth, with meaningful margin expansion of 200 basis points and double-digit adjusted EPS growth.

As we discussed at our recent Analyst Day, we have a disciplined strategy focused on generating profitable growth and we feel positive about the strong progress that we've made in this area. I believe this progress is a testament to the immense talent and effort that our colleagues around the world bring to the table on a daily basis.

I'd like to take a moment now to recognize their hard work and dedication. Their commitment to client service and living our values are making deep and lasting impacts on our business. I'm very proud of what they have achieved for the company, for our clients and for our shareholders and for bringing our story to life. I thank them for their efforts and for another solid performance this quarter.

We remain committed to our strategy and we are pleased with the progress that has been made, but we're not standing still.