Sector: Financials|Industry: Insurance Brokers|Market Cap: $30.98B|Employees: 48K
Willis Towers Watson (WTW) is a global advisory, broking, and solutions company providing data-driven solutions in people, risk, and capital management. They serve a wide range of clients from large multinational corporations to middle-market companies across 140 countries. WTW's competitive advantage lies in their global reach, local expertise, and ability to design and deliver tailored solutions.
The company's revenue increased to $2.341 billion, up from $2.244 billion in the same period last year. This growth was primarily driven by a 5% increase in organic revenue, indicating strong underlying business performance. Currency translation also positively impacted revenue by $10 million.
Net income attributable to WTW decreased to $190 million from $203 million in the prior year. This decline was attributed to higher transformation and transaction costs, increased salary expenses, and higher restructuring costs, partially offset by increased revenue and lower incentive and occupancy costs.
Adjusted EBITDA increased to $568 million from $503 million in the prior year. This increase resulted primarily from higher revenue and lower incentive and occupancy costs in the current year, partially offset by higher salary expense and marketing costs in the current-year period.