WTW details earnings for Q4 and full year
Metric
Q4-22
Q4-21
FY-22
FY-21
Revenue
US$2.72 billion
US$2.71 billion
US$8.87 billion
US$9 billion
Income from operations
US$708 million
US$690 million
US$1.18 billion
US$2.20 billion
Adjusted operating income
US$882 million
US$871 million
US$1.85 billion
US$1.79 billion
Net income
US$593 million
US$2.41 billion
US$1.02 billion
US$4.24 billion
Adjusted net income
US$689 million
US$710 million
US$1.51 billion
US$1.50 billion
It was noted that the net income for Q4-21 and FY-21 included discontinued operations of US$1.8 billion and US$2.1 billion, respectively.
Meanwhile, in the fourth quarter, WTW’s health, wealth & career segment saw a 2% increase in revenue, while risk & broking posted a 2% decline.
In the company’s announcement, chief executive Carl Hess commented: “The fourth quarter was a solid finish to a strong year for WTW. 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.”
The CEO added that WTW enters the new year with momentum and remains focussed on executing on its ‘Grow, Simplify, and Transform’ strategic priorities.
