It’s WTW’s turn to outline how it performed in the quarter and year ended December 31, 2022.
According to the global broking giant, here’s how it fared in Q4 and FY-22 compared the prior 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 $1.8 billion and $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.
