Aon plc (AON) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 30, 2026 and Aon published the results on October 28, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Aon reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted (non-GAAP), which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Revenue is Aon's "Total revenue" line, mostly commissions and fees from insurance and reinsurance brokerage and consulting.
• Wealth Solutions revenue fell 21% because Aon sold the NFP Wealth business; divestitures, including Stroz Friedberg, cut total revenue growth by 3 percentage points.
• Reinsurance Solutions revenue includes $24 million from the reversal of previously constrained revenue.

Source: Aon Q3 2026 results (Form 8-K, Exhibit 99.1), October 28, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Aon splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Aon's Risk Capital revenue was $2.7 billion in Q3 2026, up 6% from $2.5 billion in Q3 2025, 65% of total revenue.
• Aon's Human Capital revenue was $1.4 billion in Q3 2026, down 4% from $1.5 billion in Q3 2025, 35% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Aon gives no revenue or EPS range in its release. It states the expected timing of the USI deal and the expected currency effect on adjusted EPS.

In its Q3 2026 release, Aon said:

“We expect the USI Acquisition to close in the fourth quarter of 2026, and will prioritize debt repayment with a path towards deleveraging to our 2.8x-3.0x objective in approximately 24 months”

“If currency were to remain stable at today's rates, the Company would expect a de minimis impact on adjusted EPS in the fourth quarter of 2026 and a favorable impact on adjusted EPS of approximately $0.42 per share for the full year 2026.”

Source: Aon Q3 2026 release, Oct 28, 2026.

This is the company's own guidance as of Oct 28, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the AON forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Total revenue and diluted EPS, each as first reported in that quarter's release. Q4 2025 diluted EPS of $7.82 is well above adjusted EPS of $4.85 for that quarter.

Aon's next report is expected around January 29, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 28, 2026

Aon's total revenue rose 3% to $4,101 million in Q3 2026 from $3,997 million. Risk Capital, which holds Commercial Risk Solutions ($2,110 million) and Reinsurance Solutions ($572 million), brought in $2,682 million, up 6%. Human Capital, made up of Health Solutions ($992 million) and Wealth Solutions ($429 million), brought in $1,421 million, down 4%. (Aon Q3 2026 release, Oct 28, 2026)

Organic revenue growth, which excludes currency, fiduciary investment income, acquisitions and divestitures, was 6%: 7% in Commercial Risk, 7% in Reinsurance, 6% in Health and 4% in Wealth. Aon attributed it to net new business and ongoing strong retention. Reported growth was lower because of a 3% unfavorable impact primarily from divestitures, largely the sales of the NFP Wealth business and Stroz Friedberg. (Aon Q3 2026 release, Oct 28, 2026)

In Commercial Risk Aon cited strong growth in North America and EMEA, led by M&A services and U.S. core P&C, with a slightly positive net market impact. Reinsurance growth came from treaty placements and $24 million of revenue from the reversal of previously constrained revenue, while net market impact was unfavorable. Wealth growth came from Retirement advisory work in the UK and EMEA tied to regulatory change. (Aon Q3 2026 release, Oct 28, 2026)

Aon earns revenue primarily through commissions, compensation from insurance and reinsurance companies, and fees from clients. Its single largest client accounted for approximately 1% of total revenue in 2025, and no insurance carrier accounted for more than 10% of the premiums it placed. Fiduciary investment income, earned on client funds it holds, was $69 million in the quarter against $75 million a year earlier. (Aon Form 10-K, 2025, Feb 13, 2026; Aon Q3 2026 release, Oct 28, 2026)

Aon's diluted EPS rose 6% to $2.23 in Q3 2026, and adjusted EPS rose 10% to $3.36 from $3.05. Adjusted operating income of $1,106 million excludes $175 million of amortization and impairment of intangible assets, $93 million of Accelerating Aon United Program expenses, $25 million of transaction and integration costs and a change in the fair value of contingent consideration. (Aon Q3 2026 release, Oct 28, 2026)

Aon is raising debt for its pending purchase of USI. Interest expense was flat at $206 million, while interest income rose to $24 million on cash raised ahead of the deal. Long-term debt rose to $26,319 million at September 30, 2026 from $14,660 million at the end of 2025, and short-term investments to $13,299 million. (Aon Q3 2026 release, Oct 28, 2026)

Weighted average diluted shares fell to 213.0 million from 216.7 million. Aon did not repurchase any shares in Q3 and had approximately $7.7 billion of remaining repurchase authorization. The effective tax rate was 20.6%, against 21.3% a year earlier; the adjusted rate rose to 20.2% from 19.2%. (Aon Q3 2026 release, Oct 28, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Aon does not publish a revenue or EPS range in its release. For Q4 2026 it said it expects the USI Acquisition to close in the fourth quarter and will prioritize debt repayment, with a path to its 2.8x-3.0x leverage objective in approximately 24 months. At stable exchange rates it expects a de minimis currency effect on Q4 adjusted EPS and a favorable effect of approximately $0.42 per share for full year 2026. (Aon Q3 2026 release, Oct 28, 2026)

Aon agreed on August 31, 2026 to buy USI, a middle-market provider of property and casualty, employee benefit, personal risk and retirement solutions with more than 10,500 colleagues, for an aggregate estimated purchase price of approximately $17 billion in cash, funded with new debt. (Aon Form 10-Q, Q3 2026, Oct 28, 2026)

A consensus figure is the average of the models published by the analysts who cover Aon, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Aon's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning AON is on is AON a buy or a sell?, what analysts expect next is on the AON forecast, and what the company does is on the Aon plc (AON) stock page.

Every number on this page can be traced to a document Aon published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.