Aon Q1 Profit Tops Consensus - Quick Facts

(RTTNews) - UK-based risk and insurance brokerage service provider Aon Plc (AON) reported significantly higher first-quarter 2014 results, that reflect a solid start to the year with double-digit earnings growth, highlighted by strong performance across Risk Solutions and effective capital management.

For the quarter, net income attributable to shareholders climbed to $325 million, or $1.06 per share, from $261 million, or $0.82 per share, for the prior-year quarter.

Adjusted for certain items, quarterly net income per share attributable to Aon shareholders rose by 15% year-over-year to $1.28, from $1.11. On average, 22 analysts polled by Thomson Reuters expected earnings per share of $1.17 for the quarter. Analysts' estimates typically exclude one-time items.

The firm generated total revenue of $2.95 billion, up 1% from the prior-year figure of $2.915, helped by a 2% growth in organic revenue, partially offset by a 1% unfavorable impact from foreign currency translation. Analysts estimated revenues of $3.0 billion for the quarter.

Greg Case, president and chief executive, stated: "We are returning a record amount of capital to shareholders, highlighted by the repurchase of $600 million of ordinary shares in the quarter and the recently declared 43% increase in our quarterly cash dividend, while continuing to invest in innovative solutions across the firm to strengthen our industry-leading platform for long-term growth, strong free cash flow generation and increased financial flexibility."