01—Abstract
Summary
Summary of the 10-Q filed May 1, 2026. Cited figures are marked; the original filing is the authoritative source.
Aon plc reported strong financial results for the first quarter of 2026, with total revenue increasing by 6% to $5,034 milliona, driven by a 5% organic revenue growth and a 4% favorable foreign currency impact.
Net income attributable to Aon shareholders surged by 26% to $1,212 million, and diluted earnings per share rose to $5.63b from $4.43 in the prior year period. The company's Risk Capital segment showed robust performance, with revenue up 10% and operating margin expanding to 39.5%.
The Human Capital segment experienced a slight revenue decrease of less than 1%, but its operating margin improved to 28.8%. Significant improvements were noted in operating income, which increased by 26%, and cash flows from operating activities, which more than tripled to $430 millionc, primarily due to strong operating income growth and lower cash taxes.
02—Key points
Key Highlights
- Total revenue increased 6% to $5,034 million, driven by 5% organic growth.
- Net income attributable to Aon shareholders rose 26% to $1,212 million.
- Diluted earnings per share increased to $5.63 from $4.43 in the prior year.
- Risk Capital revenue grew 10% and operating margin improved to 39.5%.
- Human Capital operating margin increased to 28.8%, despite a slight revenue decline.
- Cash flow from operating activities increased by 207% to $430 million.
- The company repurchased $500 million of its shares in the quarter.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ1 FY2026filed May 1, 2026Financial Statements
Q1 FY2026 against Q1 FY2025
| Line item | Q1 FY2026Q1 FY2025 | Change |
|---|---|---|
| Revenue | $5.03B$4.73B | +6.4% |
| Operating Expenses | $3.32B$3.27B | +1.6% |
| Operating Income | $1.72B$1.46B | +17.4% |
| Net Income | $1.20B$982.00M | +22.2% |
| EPS (Basic) | $5.66$4.46 | +26.9% |
| EPS (Diluted) | $5.63$4.43 | +27.1% |
| Shares Outstanding (Basic) | 214.30M216.40M | −1.0% |
| Shares Outstanding (Diluted) | 215.40M217.90M | −1.1% |
05—Questions
Frequently Asked Questions
What were the main drivers of revenue growth in the first quarter of 2026?
Revenue growth was primarily driven by a 5% organic revenue increase across the company, supplemented by a 4% favorable impact from foreign currency translation. The Risk Capital segment, in particular, saw strong performance in Commercial Risk Solutions and Reinsurance Solutions.
How did the Accelerating Aon United Program impact expenses and savings?
Accelerating Aon United Program expenses decreased by 16% to $92 million in the first quarter of 2026 compared to the prior year. The program contributed to $25 million in net restructuring savings realized in the quarter, with cumulative annualized expense savings of $295 million achieved since its inception.
What is Aon's current liquidity position and outlook?
Aon believes its balance sheet and strong cash flow provide adequate liquidity. Primary sources of liquidity include operating cash flows, available cash reserves, and divestiture proceeds. Uses of liquidity include operating expenses, investments, acquisitions, share repurchases, and dividends. The company anticipates sufficient cash flow from operations and available credit facilities to meet its liquidity needs.
06—Continue