WTW Recasts 2024 Financial Targets

(RTTNews) - WTW (WTW) said the company is recasting its 2024 financial targets. Adjusted EPS is now estimated to be in a range of $17.50-$20.50, revised from prior guidance range of $18.00-$21.00. Adjusted operating margin is expected in a range of 23-24%, revised from previous guidance range of 24-25%. Revenue is now projected to be $9.9+ billion, revised from prior guidance of $10+ billion. The company said it remains committed to delivering mid-single digit organic revenue growth and 400-500 basis points of adjusted operating margin expansion.

For 2022, WTW is maintaining its full-year targets for organic revenue growth, adjusted operating margin expansion, and non-cash pension income. The company now expects a foreign currency headwind on adjusted earnings per share of approximately $0.25-$0.30 at current rates, up from $0.20-$0.25 previously.

Third quarter adjusted EPS was $2.20, up 27% over prior year. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $2.13, for the quarter. Analysts' estimates typically exclude special items.

Earnings per share was $1.72, down 75% over prior year. Net income was $192 million compared to $907 million, last year.

Total revenue decreased 1% to $2.0 billion with organic growth of 6% over prior year. Analysts on average had estimated $1.99 billion in revenue. For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.