Cigna Q3 2024 Earnings Report
Key Takeaways
The Cigna Group reported a 30% increase in total revenues, reaching $63.7 billion. Adjusted income from operations increased by 5% to $2.1 billion, driven by strong contributions from Evernorth Health Services. The company reaffirmed its 2024 adjusted EPS outlook of at least $28.40.
Total revenues for Q3 2024 increased 30% to $63.7 billion.
Shareholders’ net income for Q3 2024 was $0.7 billion, or $2.63 per share.
Adjusted income from operations for Q3 2024 was $2.1 billion, or $7.51 per share.
The company reaffirms its 2024 outlook for adjusted income from operations of at least $28.40 per share.
Cigna
Cigna
Forward Guidance
The Cigna Group’s outlook for full year 2024 consolidated adjusted income from operations is at least $28.40 per share. This outlook includes the impact of expected future share repurchases and anticipated 2024 dividends.
Positive Outlook
- Adjusted Income from Operations, per share at least $28.40
- Evernorth Adjusted Income from Operations, Pre-Tax at least $7,000 million
- Cigna Healthcare Adjusted Income from Operations, Pre-Tax at least $4,775 million
- Cigna Healthcare Medical Care Ratio 81.7% to 82.5%
- Includes the impact of expected future share repurchases and anticipated 2024 dividends.
Challenges Ahead
- Actual results may differ materially depending on a number of factors.
- Management does not assume any obligation to update these estimates.
- The Company’s outlook excludes the potential effects of any other business combinations that may occur after the date of this earnings release.
- The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternate uses of capital.
- The program may be suspended or discontinued at any time.