Aon's revenue climbs 5% YoY in Q1’24

Earnings per share stood at $5.35 during the quarter.

Aon’s first quarter (Q1’24) total revenue saw a 5% increase year-on-year (YoY) to $4.1b, driven by organic growth of 5%.

Net income attributable to its shareholders climbed 2% YoY to $1.1b.

The operating margin decreased by 210 basis points to 36.0%, whilst the adjusted operating margin, excluding certain items, rose by 100 basis points to 39.7% in Q1’24.

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Earnings per share (EPS) increased by 6% to $5.35, and adjusted EPS, excluding certain items, increased by 9% to $5.66 in Q1’24.

Cash flows from operations for the quarter were $309m, with free cash flow decreasing by 29% to $261m.

Aon also reported the completion of the acquisition of NFP, a provider of risk, benefits, wealth, and retirement plan advisory solutions, for an enterprise value of $13.0b. 

It also announced a 10% increase in the quarterly cash dividend subsequent to the close of the quarter.