Towers Watson & Co. (TW), a provider of human capital and financial consulting services, Thursday reported higher second-quarter earnings reflecting an increase in revenue. Adjusted earnings per share trounced analyst estimates.
For the three-month period, the company posted net income attributable to controlling interests of $82.29 million, up from $66.93 million last year.
On a per share basis, earnings stood at $1.15 versus $0.92 last year.
Earnings, excluding transaction and integration costs, impact of merger and acquisition activity and non-recurring other income, stood at $1.48.
Ten analysts on average polled by Thomson Reuters estimated earnings per share of $1.26 for the quarter. Analyst estimates typically exclude one-time items.
For the quarter, the company clocked revenue of $946.25 million, up from $879.71 million a year back. Consensus estimate for revenue was $897.09 million.
Looking ahead, the company said it expects to report third-quarter adjusted earnings per share in the range of $1.46 to $1.51 and revenue in the range of $940 million to $960 million.
Analysts on average expect earnings per share of $1.46 on revenue of $943.46 million.
For the full-year, the company said it expects adjusted earnings per share in the range of $5.28 to $5.38 and revenue in the range of $3.60 billion to $3.65 billion.
Analysts have forecast full-year earnings of $5.18 on revenue of $3.56 billion.
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