LONDON - Willis Towers Watson (NASDAQ:WTW) reported third quarter adjusted earnings and revenue that exceeded analyst estimates, sending shares up 0.5% in premarket trading Thursday.
The global advisory and broking company posted adjusted earnings per share of $2.93, surpassing the consensus forecast of $2.72. Revenue rose 6% YoY to $2.3 billion, slightly above expectations of $2.28 billion.
"We had another strong quarter fueled by revenue growth, operating leverage and the success of our Transformation program," said Carl Hess (NYSE:HES), WTW's CEO. "Our revenue growth of 6% for the quarter is evidence that our value proposition is continuing to resonate in the market and that our investments in talent and technology are succeeding."
The company's Health, Wealth & Career segment saw organic revenue growth of 4%, while Risk & Broking posted 10% organic growth.
WTW recorded a net loss of $1.67 billion for the quarter, which included over $1 billion in non-cash losses and impairment charges related to the pending sale of its TRANZACT business.
For the full year 2024, Willis Towers Watson expects revenue of $9.9 billion or greater and adjusted EPS between $16.00 and $17.00. The midpoint of the EPS guidance range is slightly above the current analyst consensus of $16.47.
The company said it remains on track to deliver approximately $450 million in cumulative run-rate savings from its Transformation program by the end of 2024.
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