Cigna reports revenue rise as Evernorth Health Services grows

Cigna's revenue rose 10% to $72.47 billion in the quarter, led by growth at its Evernorth Health Services unit, and adjusted EPS of $8.08 topped analyst estimates.

Cigna reported higher revenue in its most recent quarter, with total revenue up 10% to $72.47 billion. The company said the increase was primarily driven by Evernorth Health Services, which includes pharmacy benefit services and specialty and care services. Reported net income was $1.2 billion, or $4.64 a share, down from $1.4 billion, or $5.13 a share a year earlier. Adjusted earnings per share were $8.08, above analysts' estimates. Key facts: - Revenue rose 10% to $72.47 billion, ahead of the analyst estimate of $70.31 billion. - Adjusted earnings per share were $8.08, versus the FactSet estimate of $7.88. - Reported net profit was $1.2 billion, or $4.64 a share, compared with $1.4 billion, or $5.13 a share a year earlier. - Evernorth's adjusted revenue increased 17% and was cited as the primary growth driver. - Cigna's namesake healthcare segment saw a 16% decline in adjusted revenue after divesting Medicare and related businesses last March. - For the full year, the company expects adjusted earnings per share of at least $30.25, while analysts' consensus was $30.30. Summary: Evernorth's growth was the main contributor to the quarter's revenue increase, while the company reported a year-over-year decline in reported net income. Adjusted EPS exceeded analyst estimates. The company set full-year adjusted EPS guidance of at least $30.25, which frames expectations for upcoming financial periods.