By Paulo Trevisani
Aon PLC said Friday that forex translations had an unfavorable effect on adjusted net income in the third quarter and could hurt fourth-quarter results.
The Dublin-based professional-services company said FX had a favorable effect of $9 million, or four cents a share, on net income and a $10 million, of five cents a share, unfavorable effect on adjusted net income.
The company said that, if currencies remained stable at current rates, it would expect an unfavorable effect of approximately 11 cents a share, or an approximately $33 million decrease in operating income, in the fourth quarter.
Aon reported adjusted net income of $2.02 a share, a 16% increase from a year earlier.
The company reported total revenue at $2.7 billion in the quarter, unchanged from a year earlier and including a 5% unfavorable effect from foreign-currency translation.
Aon said FX rates helped reduce some expenses.
The DXY dollar index is rising 0.3% and the U.S. dollar is up 0.2% versus the euro.
Write to Paulo Trevisani at [email protected]
(END) Dow Jones Newswires
10-28-22 1206ET
Aon Says FX Translations Reduced Adjusted Net Income — Currency Comment
By Paulo Trevisani Aon PLC said Friday that forex translations had an unfavorable effect on adjusted net income in the third quarter and could
By Paulo Trevisani
Aon PLC said Friday that forex translations had an unfavorable effect on adjusted net income in the third quarter and could hurt fourth-quarter results.
The Dublin-based professional-services company said FX had a favorable effect of $9 million, or four cents a share, on net income and a $10 million, of five cents a share, unfavorable effect on adjusted net income.
The company said that, if currencies remained stable at current rates, it would expect an unfavorable effect of approximately 11 cents a share, or an approximately $33 million decrease in operating income, in the fourth quarter.
Aon reported adjusted net income of $2.02 a share, a 16% increase from a year earlier.
The company reported total revenue at $2.7 billion in the quarter, unchanged from a year earlier and including a 5% unfavorable effect from foreign-currency translation.
Aon said FX rates helped reduce some expenses.
The DXY dollar index is rising 0.3% and the U.S. dollar is up 0.2% versus the euro.
Write to Paulo Trevisani at [email protected]
(END) Dow Jones Newswires
10-28-22 1206ET
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