Aon Posts $3.36 Adjusted EPS for Third Quarter
AON is trading near its 52-week low of $266.33 (13% above the low).
Summary
Aon reported third-quarter adjusted earnings of $3.36 per share, per Dow Jones Newswires, alongside GAAP EPS of $2.23, net income of $476 million and revenue of $4.1 billion. Organic revenue rose 6% in the quarter and the adjusted operating margin was 27%. The original headline carried the EPS figure only — no revenue, organic growth, margin, or comparison to consensus was included, so the direction versus expectations is not yet clear. This is the first quarterly print since the company agreed on Aug. 30 to buy USI Insurance Services from KKR for $17 billion in cash, a deal it is funding with $13.5 billion of seven-tranche senior notes and $7.0 billion in new credit facilities. Those financing costs and any deal-related expenses are the key items to check in the full release, along with whether organic growth held near the 5% pace reported in Q2.
At the time of this announcement, AON was trading at $300.49 on NYSE in the Finance sector, with a market capitalization of approximately $64.2B. The 52-week trading range was $266.33 to $382.34. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.