Thu, Oct 31, 5:16 PM (62 days ago)
Willis Towers Watson Public Limited Company (WTW) reported significant financial challenges in its Q3 2024 results, primarily influenced by a $1.0 billion goodwill impairment related to the pending sale of its TRANZACT business. For the three months ending September 30, 2024, revenue increased 6% to $2,289 million, driven by both segments, while net loss attributable to WTW was $1,675 million, down from a profit of $136 million in the same quarter last year. The operating loss was $766 million, compared to an income of $159 million in Q3 2023. Cash flow from operations improved to $913 million, up from $823 million year-over-year, but total costs surged to $3,055 million due to the impairment charge. The company’s total debt rose to $5,308 million, with a capitalization ratio of 41.5%. Future operations may be impacted by ongoing geopolitical tensions and regulatory changes, particularly in healthcare. WTW continues to focus on its Transformation program, anticipating annual cost savings exceeding $450 million by 2024.