- total revenue1 down 1% to $2.0 billion with organic growth of 6% year over year
- Diluted earnings per share2 were $1.72 for the quarter, down 75% year over year
- Adjusted diluted earnings per share for the quarter were $2.20, up 27% year over year
- income from operations2 was $154 million, or 7.9% of revenue, with margin down 4,940 basis points year over year
- Adjusted operating income was $284 million, or 14.5% of revenue, with margin up 110 basis points year over year
ARLINGTON, Va. and LONDON, Oct. 27, 2022 (GLOBE NEWSWIRE) — WTW WTW (the “Company”), a leading global consulting, brokerage and solutions company, today announced financial results for the third quarter ended September 30, 2022.
“We had a strong third quarter, reflecting accelerating momentum as a result of the continued execution of our Grow, Simplify and Transform strategy,” said Carl Hess, Chief Executive Officer of WTW. “Our organic revenue growth accelerated to 6% as our investments in talent, technology and transformation began to bear fruit. In addition, we expanded our adjusted operating margins with a year-over-year improvement of 110 basis points. Our strategic momentum, continued strong demand for our services amid macroeconomic volatility, and the resilience and agility of our business give us confidence in our ability to drive growth. to increase margins and create long-term value for our shareholders.”
Consolidated results
As reported, USD millions, except %
| Important metrics | Q3-22 | Q3-21 | Change Y/Y |
| total revenue1 | $1,953 | $1,973 | Reported (1)% | CC 4% | Organic 6% |
| income from operations2 | $154 | $1,131 | (86)% |
| operating margin %2 | 7.9% | 57.3% | (4,940) bps |
| Adjusted Operating Income | $284 | $264 | 8th% |
| Adjusted Operating Margin | 14.5% | 13.4% | 110 bps |
| net income2 | $192 | $907 | (79)% |
| Adjusted Net Income | $243 | $224 | 8th% |
| Diluted EPS2 | $1.72 | $6.99 | (75)% |
| Adjusted diluted EPS | $2.20 | $1.73 | 27% |
Revenue was $1.95 billion for the third quarter of 2022, down 1% compared to $1.97 billion for the same period…
