Profits decreased by double digits at Womble Bond Dickinson last year, when travel costs came back from their pandemic-era hiatus and the firm invested in opening four new locations.

Travel expenses and investments in geographic expansion more than reversed the 11.4% net income increase and 12.8% profits per equity partner (PEP) increase the firm realized in 2021. In 2022, Womble Bond’s net income sank 13.8% to $152.5 million and PEP dropped 13.3% to $702,000.