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wtw Willis Towers Watson Reports Third Quarter 2021 Earnings October 28 , 2021 • Total revenue² increased 4 % to $ 2.0 billion with constant currency growth of 3 % and organic growth of 7 % • Diluted Earnings per Share , including discontinued operations , were $ 6.99 for the quarter • Adjusted Diluted Earnings per Share were $ 1.73 for the quarter , up 32 % over prior year • Income from Operations was $ 1.1 billion or 57.3 % of revenue • Adjusted Operating Income was $ 264 million or 13.4 % of revenue , up 120 basis points compared to the prior - year quarter -- ARLINGTON , Va . and LONDON , Oct. 28 , 2021 ( GLOBE NEWSWIRE ) Willis Towers Watson ( NASDAQ : WLTW ) ( the " Company " ) , a leading global advisory , broking and solutions company , today announced financial results for the third quarter ended September 30 , 2021 . " I am proud of the Company's financial results for the third quarter and year to date . Our third quarter results are highlighted by solid revenue growth , continued margin expansion , and strong adjusted EPS growth , " said John Haley , Willis Towers Watson's chief executive officer . “ During the third quarter , Willis Towers Watson continued to evolve our leadership , structure and portfolio of businesses . We introduced our new Global Leadership Team ( GLT ) and our grow , simplify , and transform strategy . We have significant core strengths which we believe will help guide our strategy that is designed to generate value for all our stakeholders , external and internal , going forward . " Third Quarter Company Highlights All GAAP profitability metrics referenced include the benefit of the $ 1 billion income receipt that was received as a result of the termination of the proposed Aon transaction during the third quarter of 2021 ( see additional disclosures in the Company's Quarterly Report on Form 10 - Q for the quarter ended September 30 , 2021 ) . Revenue was $ 1.97 billion for the third quarter of 2021 , an increase of 4 % ( 3 % increase constant currency and 7 % increase organic ) as compared to $ 1.90 billion for the same period in the prior year . For the nine months ended September 30 , 2021 , revenue was $ 6.29 billion , an increase of 6 % ( 3 % increase constant currency and 6 % increase organic ) as compared to $ 5.95 billion for the same period in the prior year . Income from operations for the third quarter of 2021 was $ 1.1 billion , or 57.3 % of revenue , an increase from $ 66 million or 3.5 % of revenue in the third quarter of the prior year . Adjusted operating income was $ 264 million , or 13.4 % of revenue , an increase of 120 basis points compared to the third quarter of the prior year . Net income attributable to Willis Towers Watson for the third quarter of 2021 was $ 903 million , an increase of 646 % from $ 121 million for the prior - year third quarter . For the quarter , diluted earnings per share , which includes discontinued operations , were $ 6.99 and adjusted diluted earnings per share were $ 1.73 . The U.S. GAAP tax rate for the quarter was 22.5 % , and the adjusted income tax rate for the quarter used in calculating adjusted diluted earnings per share was 23.2 % . For the nine months ended September 30 , 2021 , income from operations was $ 1.5 billion , or 24.0 % of revenue , an increase from $ 280 million or 4.7 % of revenue in the same period in the prior year . Adjusted operating income was $ 920 million , or 14.6 % of revenue , an increase of 210 basis points compared to the same period in the prior year . Net income attributable to Willis Towers Watson for the nine months ended September 30 , 2021 , was $ 1.8 billion , an increase of 250 % from $ 520 million for the same period in the prior year . For the nine months ended September 30 , 2021 , diluted earnings per share , which includes discontinued operations , were $ 14.00 and adjusted diluted earnings per share were $ 6.04 . For the nine months ended September 30 , 2021 , the U.S. GAAP tax rate was 19.6 % , and the adjusted income tax rate used in calculating adjusted diluted earnings per share was 20.3 % . Net income , which includes discontinued operations , for the third quarter of 2021 was $ 907 million , or 46.0 % of revenue , an increase from net income of $ 122 million , or 6.4 % of revenue for the prior - year third quarter . Adjusted EBITDA for the third quarter of 2021 was $ 415 million , or 21.0 % of revenue , an increase from Adjusted EBITDA of $ 375 million , or 19.8 % of revenue . 1 All performance metrics are presented on a continuing operations basis except where stated otherwise . 2 The revenue amounts included in this release are presented on a U.S. GAAP basis except where stated otherwise . The segment discussion is on an organic basis .