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Aon (AON) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 29, 2026
Aon (AON) reported revenue of $4.2B for the second quarter 2026 (Q2 2026), +2% from a year earlier and -16% from the quarter before. Operating margin was 21.5%, net earnings $551M (13.0% of revenue).
Aon, Q2 2026: revenue $4.2B (+2% year over year), operating margin 21.5%, net earnings $551M, operating cash flow $556M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.2B | -16% | +2% |
| Operating profit | $915M | -47% | +7% |
| Net earnings | $551M | -55% | -5% |
| Operating cash flow | $556M | +29% | -30% |
| Free cash flow | $483M | +33% | -34% |
What changed
Revenue was $4.2B in Q2 2026, up 2% year over year and down 16% from the previous quarter.
Operating profit was $0.92B, a 21.5% margin (up 0.9 points year over year). Of the extra revenue versus Q2 2025, 62% reached operating profit, above the 21% margin then. Total costs grew 1% against revenue growth of 2%. Net earnings were $0.55B, down 5% year over year. The effective tax rate was 22.0%.
Operating cash flow was $0.56B (down 30% year over year), 98% of net income including minority interests. Non-cash charges added back $0.05B of depreciation and $0.12B of share-based compensation. Working capital and other items used $0.18B. Capital expenditures of $0.07B left free cash flow of $0.48B.
Questions
What was Aon's revenue in the second quarter 2026?
Aon (AON) reported revenue of $4.2B for the second quarter 2026 (Q2 2026), +2% from a year earlier and -16% from the quarter before.
Was Aon profitable in the second quarter 2026?
Operating profit was $915M (21.5% of revenue) and net earnings $551M.
Source: Aon 10-Q on SEC EDGAR.