WTW Turns To Q3 Loss, But Revenue Rises

Willis Towers Watson

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(RTTNews) - Willis Towers Watson Public Limited Company (WTW), an advisory, broking and solutions company, Thursday reported net loss of $1.675 billion or $16.44 per share for the third quarter, compared with net income of $136 million or $1.29 per share in the same quarter a year ago, primarily impacted by non-cash losses and impairment charges of more than $1 billion related to the pending sale of TRANZACT.

Excluding one-time items, the company posted earnings of $299 million or $2.93 per share, that beat the analysts' average estimate of $2.71 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter increased 6 percent to $2.289 billion from $2.166 billion in the previous year. The consensus estimate was for $2.29 billion.

Looking ahead, WTW expects full-year revenue to be $9.9 billion or more. Adjusted EPS for the year expected between $16.00 and $17.00.

Analysts expect the company to report earnings of $16.43 per share on revenue of $9.92 billion for the year.