Aon reported higher third-quarter revenue and earnings per share on October 28, while reported operating profit declined, according to its results release.
Revenue for the quarter ended September 30 increased 3% to $4.101 billion. Organic revenue grew 6%, partly offset by divestitures, principally the NFP Wealth business and Stroz Friedberg.
Risk Capital revenue increased 6% to about $2.7 billion, while Human Capital revenue fell 4% to about $1.4 billion. Organic growth was 7% in both Commercial Risk and Reinsurance, 6% in Health and 4% in Wealth.
Reported operating income fell 1% to $809 million, with its margin declining to 19.7% from 20.4%. Adjusted operating income rose 5% to $1.106 billion.
Net income attributable to shareholders rose to $476 million from $458 million. Diluted earnings increased to $2.23 per share from $2.11; adjusted earnings rose to $3.36 from $3.05.
Aon expects its USI acquisition to close in the fourth quarter. Adjusted earnings and organic growth are supplemental measures that exclude specified items; they differ from reported accounting results.
Sources: Aon third-quarter earnings release.