Fri, Jul 26, 8:26 PM (43 days ago)
Aon plc's Q2 2024 financial report reveals a significant increase in revenue and expenses due to the acquisition of NFP. Revenue rose by 18% YoY to $3.8 billion, driven by acquired revenue and 6% organic growth, partially offset by a 1% unfavorable currency impact. Operating expenses surged by 33% to $3.1 billion, attributed to NFP's operating costs, restructuring charges, and investments in growth. Consequently, operating margin dropped from 26.5% to 17.4%. Net income decreased by 6% to $538 million, with diluted EPS falling to $2.46 from $2.71. For H1 2024, revenue increased by 11% to $7.8 billion, while net income slightly decreased to $1.6 billion. Adjusted metrics showed a modest improvement in adjusted operating margin and EPS. Cash flow from operations was $822 million, down $309 million YoY, mainly due to higher receivables and transaction costs. The acquisition of NFP, costing $9.1 billion, significantly impacted financials, contributing to increased goodwill and intangible assets.