Earnings Releases·Oct 28, 2026, 6:35 AM ET

Aon — Third Quarter 2026 Earnings Summary

Total revenue increased 3% to $4,101 million in Q3 2026, while adjusted diluted EPS rose 10% to $3.36; year-to-date adjusted operating income grew 6% to $4,299 million with an 80 basis point margin expansion to 32.1%.
Management anticipates a favorable currency impact of approximately $0.42 per share for full-year 2026 and expects the USI Acquisition to close in Q4 2026, with a strategic path to deleverage to a 2.8x-3.0x ratio over 24 months.
Long-term debt increased to $26,319 million as of September 30, 2026, driven by debt issuance to fund the USI Acquisition, while the company retained $7.7 billion in share repurchase authorization with no buybacks executed in the quarter.
Risk Capital revenue grew 6% to $2,700 million and Human Capital revenue declined 4% to $1,421 million, with total operating expenses rising 3% to $3,292 million, including $93 million in Accelerating Aon United Program expenses.