Aon’s earnings report of its results for the second quarter of 2013 showed a pattern of growth throughout the organization. Total revenue was $2.9 billion with organic revenue growth of 3 percent, while earnings per share (EPS) from continuing operations was $0.76, a 4 percent increase. Net income for the period was $241 million, compared to $247 million in Q2 2012.
Other earnings highlights included the following:
– EPS from continuing operations, adjusted for certain items, increased 9 percent to $1.11
– Risk Solutions revenue increased 2 percent to $1.9 billion with organic revenue growth of 3 percent
– Risk Solutions operating margin was 20.1 percent and the operating margin, adjusted for certain items, increased 60 basis points to 22.5 percent
– HR Solutions revenue increased 3 percent to $956 million with organic revenue growth of 2 percent
– HR Solutions operating margin was 3.8 percent and the operating margin, adjusted for certain items, decreased 50 basis points to 14.9 percent
– Cash flow from operations increased $49 million to $333 million, and free cash flow increased 20 percent, or $45 million, to $271 million
“Our second quarter results reflect organic growth across each of our major segments, continued margin improvement in Risk Solutions, twenty percent growth in free cash flow and the repurchase of $225 million of ordinary shares in the quarter,” said President and CEO Greg Case. “Our solid financial performance has absorbed significant investments made in areas such as the Global Risk Insight Platform and in healthcare exchanges, strengthening our industry-leading platform for long-term growth, strong free cash flow generation and increased financial flexibility.”
Source: Aon plc
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