Willis Towers Watson Public Limited Company · NASDAQ:WTW
Willis Towers Watson Public — Willis Towers Watson — Q3 2022 Earnings Presentation
28 slides from Willis Towers Watson Public's earnings presentation, Oct 27, 2022
Slide 1: WTW Earnings Release Supplemental Materials, Third Quarter Financial Results
wtwco.com WTW Earnings Release Supplemental Materials October 27, 2022 Third Quarter Financial Results © 2022 WTW. All rights reserved.
Slide 2: WTW Forward-Looking Statements
wtwco.com WTW Forward - Looking Statements This document contains ‘forward - looking statements’ within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created by those laws. These
Slide 3: WTW Non-GAAP Measures
wtwco.com © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. WTW Non - GAAP Measures In order to assist read
Slide 4: Strategy and Operating Performance
wtwco.com Strategy and Operating Performance © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. 4
Slide 5: Key Takeaways
wtwco.com Remain focused on delivering our 2022 financial targets Continued to return capital, with $369M in Q3 - 22 share repurchases Organic growth of 6% in the quarter and 27% Adj. EPS growth over the prior year Significant progress on strategic priorities, with hiring on pace with first half of
Slide 6: Key figures: Q3 2022 GAAP Financial Results
wtwco.com Key figures © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. Q3 2022 GAAP Financial Results $USD
Slide 7: Solid Operating Performance: Q3 2022 Key Figures
wtwco.com © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. Solid Operating Performance Q3 2022 Key Figures
Slide 8: Focus on execution of our strategy; FY 2024 Recast Financial Targets
wtwco.com © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. Focus on the execution on our strategy aiming t
Slide 9: Recent Progress Against Strategic Priorities
wtwco.com Recent Progress Against Strategic Priorities © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. Gr
Slide 10: We Have a Portfolio of Leading Businesses in Attractive Markets
wtwco.com Delivering superior advice, broking and solutions in the areas of people, risk and capital We Have a Portfolio of Leading Businesses in Attractive Markets We have: A distinctive mix of complementary businesses • Accomplished and aspiring talent • Collaborative client - first culture • Soph
Slide 11: Segment Overview: Health, Wealth & Career
wtwco.com $4,586 $4,895 $5,268 2019 2020 2021 $1,149 $1,236 $1,346 2019 2020 2021 25.0% 25.2% 25.6% 2019 2020 2021 Segment Overview: Health, Wealth, & Career © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionar
Slide 12: Segment Overview: Risk & Broking
wtwco.com $3,282 $3,316 $3,564 2019 2020 2021 $650 $714 $835 2019 2020 2021 19.8% 21.6% 23.4% 2019 2020 2021 Segment Overview: Risk & Broking © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, incl
Slide 13: Value Creation Framework
wtwco.com Value Creation Framework 1. Seek profitable growth through innovation in attractive markets 2. Target superior shareholder returns through buybacks and prudent investments 3. Defensive business model with historically lower volatility than other financial services subsectors 4. Expected ac
Slide 14: Financial Review
wtwco.com Financial Review © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. 14
Slide 15: Segment Highlights: Health, Wealth & Career
wtwco.com Segment Highlights • For the quarter, Health, Wealth & Career grew 4% organically, and all components of the segment contributed to growth, with Health and Career leading the segment – Growth in our Health business was driven by new client appointments and increases in advisory work and pr
Slide 16: Segment Performance: Risk & Broking
wtwco.com Segment Highlights • For the quarter, Risk & Broking grew 6% organically and was led by strong growth in Corporate Risk & Broking – Corporate Risk & Broking generated revenue growth across all regions, primarily driven by our global lines of business, most notably in Aerospace, Natural Res
Slide 17: Transformation Program
wtwco.com © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. Transformation Program On track to generate $36
Slide 18: Maintaining a Flexible Balance Sheet
wtwco.com Maintaining a Flexible Balance Sheet © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. 1 Total De
Slide 19: Executing Against a Balanced Capital Allocation Strategy
wtwco.com © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. Executing Against a Balanced Capital Allocation
Slide 20: On Track to Achieve 2022 Financial Targets
wtwco.com © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. On Track to Achieve 2022 Financial Targets 1 Ex
Slide 21: Appendix 1: Reconciliation of Non-GAAP Measures
wtwco.com Appendix 1: Reconciliation of Non - GAAP Measures © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentatio
Slide 22: Constant Currency and Organic Revenue Change
wtwco.com Constant Currency and Organic Revenue Change © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. Co
Slide 23: Adjusted Op Income and Margin, Adj. EBITDA and Margin
wtwco.com © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. Adjusted Op Income and Margin, Adj. EBITDA and
Slide 24: Adjusted Net Income and Adjusted Diluted EPS
wtwco.com Adjusted Net Income and Adjusted Diluted EPS © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. As
Slide 25: Adjusted Income Before Taxes, Adjusted Income Tax Rate and Free Cash Flow
wtwco.com Adjusted Income Before Taxes, Adjusted Income Tax Rate and Free Cash Flow As reported, USD millions except % © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual result
Slide 26: Appendix 2: 2024 Outlook
wtwco.com Appendix 2: 2024 Outlook © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. 26
Slide 27: 2024 Outlook
wtwco.com 2024 Outlook In the third quarter of 2022, the Company completed the transfer of its ownership of its Russian subsidiaries to local manage men t and, given current conditions, does not anticipate resuming operations in Russia within the foreseeable future. In light of the completi on of th
Slide 28: About WTW
wtwco.com © 2022 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. About WTW At WTW (NASDAQ: WTW), we provide data