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 paulo.trevisani@wsj.com
(END) Dow Jones Newswires
10-28-22 1206ET