Aon plc (NYSE: AON) reported Q3 EPS of $1.53, $0.04 better than the analyst estimate of $1.49. Revenue for the quarter came in at $2.4 billion versus the consensus estimate of $2.32 billion.

Third Quarter Key Metrics From Continuing Operations

• Total revenue was flat at $2.4 billion, including flat organic revenue
• Operating margin increased 340 basis points to 18.5%, and operating margin, adjusted for certain items, increased 40 basis points to 22.4%
• EPS increased 27% to $1.18, and EPS, adjusted for certain items, increased 6% to $1.53
• For the first nine months of 2020, cash flows from operations increased 74% to $2,023 million, and free cash flow increased 91% to $1,904 million

Third Quarter Highlights

• Announced that Aon and Willis Towers Watson shareholders overwhelmingly approved all proposals necessary to complete the previously announced combination of Aon and Willis Towers Watson
• Co-published our Innovation White Paper with Willis Towers Watson on opportunities for innovation to help clients navigate an increasingly complex world
• Repurchased 2.4 million Class A Ordinary Shares for approximately $500 million
• Subsequent to the close of the quarter, announced the launch of its Intellectual Property Capital Market Solution along with the close of a significant IP-backed lending transaction worth over $100 million, believed to be the largest such transaction ever consummated
• Subsequent to the close of the quarter, announced a 5% increase to the quarterly cash dividend

"Our third quarter results demonstrate the resiliency of our firm and our colleagues. Year-to-date, we delivered strong operational performance with 170 basis points of operating margin expansion and free cash flow of $1.9 billion, up $908 million from last year," said Greg Case, Chief Executive Officer. "Over the past decade, we have evolved to better address client need by making their voice core to our Aon United growth strategy. Taking a complete client view – instead of a traditional product view – is fundamental to delivering the next generation of solutions they have told us they need. In an increasingly volatile world, our pending combination with Willis Towers Watson will accelerate this proven strategy and establish the combined firm as a preeminent partner to help clients navigate today's most pressing issues and the long-tail risks we will face in the future."

For earnings history and earnings-related data on Aon plc (AON) click here.