1st May 2022

WTW reports first quarter "on track"

Highlights are:
-Total revenue1 decreased 3% to $2.2bn with organic growth of 2%
-Diluted Earnings per Share were $1.03 for the quarter, down 82% over prior year
-Adjusted Diluted Earnings per Share were $2.66 for the quarter, up 22% over prior year
-Income from Operations was $179m or 8.3% of revenue, with margin down 120 basis points over prior year
-Adjusted Operating Income was $371m or 17.2% of revenue, with margin up 200 basis points
over prior year
"The first quarter marked a solid start to the year for WTW with results that were in line with expectations and reflect
improved momentum in our business,” said Carl Hess, WTW’s ceo. “During the quarter, we continued to make significant progress across our strategic priorities. We launched innovative new products, hired at our fastest rate since
2019, simplified our reporting structure, and made headway on transforming our cost structure. As of today, we have
executed on our capital allocation strategy, having repurchased $4.1bn in shares and reaching our 2022 target ahead of schedule. Going forward, we believe we are well-positioned for success, with our industry-leading solutions and teams helping our clients address their most pressing needs in a volatile economic environment. We believe we remain on track to achieve our 2022 financial targets and are confident in our ability to deliver on our long-term goals for the benefit of all our stakeholders.”

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