Financial Results

Towers Watson Reports Strong Third Quarter Earnings (Q3, 2013)

Towers Watson (NYSE, NASDAQ: TW), a leading global professional services company, today announced financial results for the third quarter of fiscal year 2013, which ended March 31, 2013.

Total revenues were $941 million for the quarter, an increase of 4% (5.5% constant currency) from $902 million for the third quarter of fiscal 2012. On an organic basis, which excludes the impact of changes in foreign currency exchange rates, acquisitions and divestitures, revenues increased 2% from the prior-year third quarter. Currency translation negatively impacted our third quarter revenue by approximately $10 million or 1%.

  • Revenue increased 4% over prior year (5.5% constant currency)
  • Diluted EPS of $1.34, an increase of 41% over prior year
  • Adjusted Diluted EPS of $1.60, an increase of 15% over prior year
  • Increasing full year adjusted diluted EPS guidance range to $5.44 to $5.49

Outlook for Fiscal 2013

For fiscal 2013, the company expects to report revenues of approximately $3.6 billion, reflecting constant currency revenue growth in the range of 6% to 7%, and adjusted diluted earnings per share in the range of $5.44 to $5.49.

For the fourth quarter of fiscal 2013, the company expects to report revenues in the range of $870 million to $890 million, reflecting constant currency revenue growth in the range of 6% to 9%, and adjusted diluted earnings per share in the range of $1.23 to $1.28. This guidance assumes an average exchange rate of 1.51 U.S. dollars to the British Pound and 1.30 U.S. dollars to the Euro for the fourth quarter of fiscal 2013.

Financial Press Release

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