Press release
WTW Reports Fourth Quarter and Full Year 2022 Earnings
Revenue1 increased 1% to $2.7 billion for the quarter and decreased 1% to $8.9 billion for the yearOrganic Revenue growth of 5% for the quarter and 4% for the
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[{"type":"text","content":"Revenue1 increased 1% to $2.7 billion for the quarter and decreased 1% to $8.9 billion for the yearOrganic Revenue growth of 5% for the quarter and 4% for the yearDiluted Earnings per Share2 were $5.40 for the quarter, down 72% over prior year, and $8.98 for the year3, down 73% over prior yearAdjusted Diluted Earnings per Share were $6.33 for the quarter, up 12% over prior year, and $13.41 for the year, up 16% over prior yearOperating Margin was 26.0% for the quarter, up 50 basis points over prior year, and 13.3% for the year3, down 1,120 basis points over prior yearAdjusted Operating Margin was 32.4% for the quarter, up 20 basis points over prior year, and 20.9% for the year, up 100 basis points over prior yearFull Year 2023 Guidance of mid-single digit Organic Revenue growth and continued Adjusted Operating Margin expansion LONDON, Feb. 09, 2023 (GLOBE NEWSWIRE) -- WTW (NASDAQ: WTW) (the “Company”), a leading global advisory, broking and solutions company, today announced financial results for the fourth quarter and year ended December 31, 2022. “The fourth quarter was a solid finish to a strong year for WTW,” said Carl Hess, WTW’s chief executive officer. “For the fourth quarter, revenue and operating margins increased over prior year. In addition, for the full year, we delivered results that were in line with our expectations, including healthy organic revenue growth and adjusted operating margin expansion. These reflected the benefits of our hiring efforts, investments in technology, initiatives to simplify our company and the successful execution of our transformation efforts. In a complex operating environment, our focus, agility and resilience allowed us to deliver on our commitments, including a substantial return of capital to our shareholders. We enter 2023 with momentum and remain focused on executing on our Grow, Simplify and Transform strategic priorities, accelerating cash flow conversion and achieving our long-term goals.” Consolidated Results Fourth Quarter 2022, as reported, USD millions, except % Key MetricsQ4-22Q4-21Y/Y ChangeRevenue1$2,722$2,706Reported 1% | CC 4% | Organic 5%Income from Operations$708$6903%Operating Margin %26.0%25.5%50 bpsAdjusted Operating Income$882$8711%Adjusted Operating Margin %32.4%32.2%20 bpsNet Income2$593$2,407(75)%Adjusted Net Income$689$710(3)%Diluted EPS2$5.40$19.19(72)%Adjuste...
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