Aon plc (AON) reported fourth-quarter revenue of $4.1 billion, up 23% from a year earlier.
The increase was primarily driven by acquired revenues from NFP and 6% organic revenue growth, partially offset by a 1% unfavourable impact from foreign currency translation. Risk capital revenue rose by 13% to $2.5 billion, while human capital revenue increased by 41% to $1.6 billion.
Operating income for the quarter increased 40% to $1.1 billion, with an operating margin of 26.3%. Adjusted operating income grew 21% to $1.38 billion, though the adjusted operating margin declined slightly to 33.3%.
Net income attributable to Aon shareholders rose 44% to $716 million, with diluted earnings per share at $3.28, compared with $2.47 in the prior year.
For the full year, total revenue increased 17% to $15.7 billion, driven by acquired revenues from NFP and 6% organic revenue growth.
Net income attributable to Aon shareholders was $2.7 billion, with diluted EPS of $12.49, compared to $12.51 in the prior year.
The company repurchased 3.1 million class A ordinary shares for approximately $1.0 billion during the year, with $2.3 billion remaining under its share repurchase program as of December 31, 2024.
Aon introduced its 2025 guidance, projecting continued mid-single-digit organic revenue growth, adjusted margin expansion, strong adjusted EPS growth, and double-digit free cash flow growth.
CEO Greg Case commented on the company’s performance, highlighting Aon’s resilience in navigating complex market dynamics and its commitment to creating long-term value.
“We generated 6% organic revenue growth for the fourth quarter and full year, with mid-single digit growth or better across all our solution lines. This top-line strength and continued cost efforts drove strong margins, double-digit EPS growth, and $2.8 billion of free cash flow,” Case stated.
