UK-based multinational firm Aon (AON:NYE) has reported a 2% increase in revenue to $3.13 billion for the fourth quarter of 2022, in line with analysts’ expectations and higher than the previous year’s AON stock Q4 revenue of $3.08 billion.
The company’s reinsurance solutions experienced the largest growth, with a 27% increase. Aon had a “very strong year,” with a more than 100% jump in net income to $12.14 per share and a 48% year-over-year increase in free cash flow to a record high of $3.02 billion.
Moving forward, Aon is confident in growing opportunities due to rising global risks. Analysts forecast revenue of $3.87 billion and an EPS of $5.31 per share for Q1 2023. AON stock price was down by 3% after the earnings announcement but has generated returns of 40% over the past three years.
The average analyst target price for Aon stock is $319.38 over the next 12 months, with an average analyst rating of “Hold.”
Company Profile:
Aon plc, a professional services firm, provides advice and solutions to clients focused on risk, retirement, and health worldwide.
It offers commercial risk solutions, including retail brokerage, cyber, and global risk consulting solutions, as well as acts as a captives management; and health solutions, such as health and benefits brokerages, and health care exchanges.
Further, the company offers CoverWallet; Affinity; Aon Inpoint; CoverWallet; and ReView services. Aon plc was founded in 1919 and is headquartered in Dublin, Ireland.
