Every material Form 8-K Willis Towers Watson filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
WTW reported third-quarter 2024 revenue up 6% to $2.29 billion and adjusted diluted EPS up 31% to $2.93. The company also posted a net loss of $1.67 billion, or $16.44 per diluted share, driven by over $1.0 billion of non-cash losses and impairment charges tied to the pending sale of TRANZACT. Full-year 2024 targets were restated as previously provided, so guidance was not changed.
Revenue rose 6% to $2.29 billion for the quarter, with organic growth of 6%.
Net loss of $1.67 billion, or $16.44 per diluted share, includes pre-tax non-cash losses and impairment charges of over $1.0 billion each tied to the pending TRANZACT sale.
Adjusted diluted EPS was $2.93, up 31%, and adjusted operating margin was 18.1%, up 190 basis points.
Full-year 2024 targets include adjusted diluted EPS of $16.00 to $17.00 and revenue of $9.9 billion or greater; WTW will hold an Investor Day on December 3, 2024.
WTW agreed to sell its TRANZACT direct-to-consumer insurance distribution business for $632.4 million, subject to adjustments, to a buyer formed by funds affiliated with GTCR LLC and Recognize Partners. The company expects non-cash pre-tax losses and impairment charges of $1.6 billion to $2.1 billion in the third quarter of 2024, which could differ materially from the preliminary estimate, and the sale is expected to close by the end of 2024.
Sale price is $632.4 million, subject to certain adjustments, with the buyer being Project Granite Buyer, Inc.
Third-quarter 2024 non-cash pre-tax losses and impairment charges are estimated at $1.6 billion to $2.1 billion, including a goodwill write-down at the Benefits, Delivery & Administration reporting unit.
Closing is expected by the end of 2024, subject to Hart-Scott-Rodino clearance and other customary conditions.
The Board of Directors has approved the transaction, and the company may record further losses until closing.
WTW reported second-quarter 2024 results for the period ended June 30, 2024. Revenue rose 5% to $2.3 billion, diluted EPS rose 55% to $1.36, and adjusted diluted EPS rose 24% to $2.55, while the company raised the low end of its full-year 2024 adjusted operating margin and adjusted EPS targets.
Revenue of $2,265 million, up 5% from $2,159 million; organic growth was 6%
Diluted EPS of $1.36 vs. $0.88 a year earlier; adjusted diluted EPS of $2.55 vs. $2.05
2024 adjusted diluted EPS target now $16.00-$17.00 (previously $15.40-$17.00); adjusted operating margin target now 23.0%-23.5% (previously 22.5%-23.5%)
WTW repurchased $200 million of its outstanding shares during the quarter
WTW reported first-quarter 2024 results on April 25, 2024, for the period ended March 31. Revenue rose 4% to $2.34 billion and adjusted diluted EPS rose 16% to $3.29, while net income fell 6% to $194 million and diluted EPS fell 3% to $1.83. The company said its full-year 2024 targets are consistent with those previously provided, including adjusted diluted EPS of $15.40 to $17.00.
Revenue $2.34 billion, up 4% reported and 5% organic, from $2.24 billion a year earlier
Diluted EPS $1.83, down 3%; adjusted diluted EPS $3.29, up 16%
Net income $194 million, down 6%; operating margin 12.0%, down 70 basis points
Full-year 2024 targets unchanged, including adjusted diluted EPS of $15.40 to $17.00; $101 million of share repurchases in the quarter
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
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