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Last $93.54 USD
Change Today -0.85 / -0.90%
Volume 1.5M
AON On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

aon plc (AON) Key Developments

Aon plc Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Free Cash Flow Guidance for the Second Half of 2015, Full Year of 2015, 2016 and 2017

Aon plc reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. Net income attributable to shareholders was $178 million, or $0.62 per diluted share, compared to $304 million, or $1.01 per diluted share, for the prior year quarter. Net income attributable to Aon shareholders was $178 million, or $0.62 per share, compared to $304 million, or $1.01 per share, for the prior year quarter. Net income per share attributable to Aon shareholders, adjusted for certain items, increased 5% to $1.31, compared to $1.25 in the prior year quarter, including an $0.08 per share unfavorable impact on adjusted net income from continuing operations if the Company were to translate prior year quarter results at current quarter foreign exchange rates. Total revenue was $2,800 million, compared to $2,913 million for the last year. Operating income was $277 million, compared to $445 million for the last year. Income before income taxes was $214 million, compared to $380 million for the last year. Operating income as adjusted was $532 million compared with $532 million a year ago. Income before income taxes as adjusted was $469 million compared with $467 million a year ago. Net income as adjusted was $385 million compared with $385 million a year ago. Net income attributable to Aon shareholders as adjusted was $375 million compared with $376 million a year ago. Diluted earnings per share as adjusted were $1.31 compared with $1.25 a year ago. For the six months, the company reported total revenue of $5,642 million, compared to $5,854 million for the last year. Operating income was $718 million, compared to $914 million for the last year. Income before income taxes was $635 million, compared to $794 million for the last year. Net income attributable to shareholders was $506 million or $1.76 per diluted share, compared to $629 million or $2.07 per diluted share for the last year. Cash provided by operations was $365 million, compared to $333 million for the last year. Capital expenditure was $142 million, compared to $115 million for the last year. Free cash flow, defined as cash flow from operations less capital expenditures, for the first six months of 2015 increased 2%, or $5 million, to $223 million driven by an increase in cash flow from operations, partially offset by a $27 million increase in capital expenditures. Operating income as adjusted was $1,053 million compared with $1,087 million a year ago. Income before income taxes as adjusted was $970 million compared with $967 million a year ago. Net income as adjusted was $790 million compared with $790 million a year ago. Net income attributable to Aon shareholders as adjusted was $767 million compared with $770 million a year ago. Diluted earnings per share as adjusted were $2.67 compared with $2.53 a year ago. Looking forward, the company expects significant free cash flow growth in the second half of the year, leading to double-digit growth in free cash flow for the full year 2015, including the legacy litigation impact. The increase in cash paid to settle legacy litigation in the quarter will provide a tailwind to free cash flow growth in 2016. Combined with strong free cash flow growth in the second half and for the full year, the company is firmly on track towards the goal of generating more than $2.3 billion of free cash flow for the full year 2017.

Aon plc Announces Executive Appointments

Aon plc announced the appointment of Qin Lu as CEO, Aon Benfield Greater China and CEO, Aon Risk Solutions China, with effect from later this year. Subject to regulatory approval in China, Qin will join the regional management teams of Aon Benfield and Aon Risk Solutions respectively and will report jointly to Malcolm Steingold, Chief Executive Officer, Asia Pacific, Aon Benfield, and Sandeep Malik, Chief Executive Officer, Aon Risk Solutions Asia. Qin's prior roles include serving as the Head of Property & Casualty, China and General Manager of Beijing Branch at Swiss Re.

Aon Declares Quarterly Dividend on Class A Ordinary Shares, Payable August 17, 2015

Aon plc announced that the Board of Directors has declared a quarterly cash dividend of $0.30 per share on outstanding Class A Ordinary Shares. The dividend is payable August 17, 2015 to shareholders of record on August 3, 2015.

Aon plc to Report Q2, 2015 Results on Jul 31, 2015

Aon plc announced that they will report Q2, 2015 results Pre-Market on Jul 31, 2015

Aon plc, Q2 2015 Earnings Call, Jul 31, 2015

Aon plc, Q2 2015 Earnings Call, Jul 31, 2015

 

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Industry Analysis

AON

Industry Average

Valuation AON Industry Range
Price/Earnings 21.3x
Price/Sales 2.3x
Price/Book 4.1x
Price/Cash Flow 20.6x
TEV/Sales 1.6x
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