Initiative commits $9M over three years, with a first-year focus on housing stability Request for application now open for nonprofits prioritizing veteran mental health with programs and services directly connected to housing and homelessness challenges BLOOMFIELD, Conn., Aug. 12, 2024 /PRNewswire/ -- The Cigna Group Foundation, the philanthropic arm of The Cigna Group (NYSE: CI), announced today a new grant program that will commit $9 million over three years to help improve the mental health and well-bein ...

Market Overview - Since July 16, market volatility has increased, with the Nasdaq 100 down 13% from its peak, indicating a correction phase [1] - The economy remains strong, and expectations for rate cuts starting in September are growing, suggesting potential upside for certain stocks [1] Bargain Stocks Performance - In Q2 2024, selected bargain stocks reported revenue growth of at least 8% and earnings growth above 10%, yet they trade below 14 times forward earnings, representing a 25% discount to the market [2] - As long as these stocks continue to perform well, their price-to-earnings (P/E) multiples are expected to expand, closing the valuation gap [2] Celestica (CLS) - Celestica operates in two segments: Advanced Technology Solutions and Connectivity & Cloud Solutions, with the latter experiencing significant growth due to hyperscaler investments [3] - In Q2 2024, Celestica exceeded revenue estimates by $140 million, achieving revenues of $2.39 billion, a 23% year-over-year increase, and adjusted EPS rose to $0.91 from $0.55 in Q2 2023 [4] - The Connectivity & Cloud Solutions segment saw a 51% year-over-year revenue surge, with segment margins improving from 6.0% to 7.2% [5] - Management raised full-year revenue guidance from $9.1 billion to $9.45 billion and adjusted EPS guidance from $3.30 to $3.62, resulting in a forward P/E of 13, indicating a bargain opportunity [6] PayPal (PYPL) - PayPal's new CEO has implemented a plan to revive profitable growth, with Q2 results showing acceleration in growth [7] - The company trades at 11 times FY2024 earnings, which is considered too cheap given its turnaround and growth in transaction margin dollars, which increased from $3.5 billion in Q1 to $3.6 billion in Q2, reflecting an 8% year-over-year growth [8][9] - Management has recognized the stock's discount and increased the buyback program from $5 billion to $6 billion, indicating confidence in future growth [9] Cigna (CI) - Cigna operates two main segments: Cigna Healthcare and Evernorth Health Services, with the latter being a significant growth driver [10] - In Q2 2024, Evernorth's pharmacy benefit services and specialty revenues grew 41% and 18% year-over-year, respectively, contributing to a total revenue increase of 25% to $60.5 billion [11] - Adjusted EPS increased from $6.13 to $6.72, representing a 10% growth, and for FY2024, Cigna expects adjusted EPS of at least $28.40, resulting in a forward P/E of 12, indicating a bargain considering future growth opportunities [12]

BLOOMFIELD, Conn., Aug. 5, 2024 /PRNewswire/ -- The Cigna Group Foundation, the philanthropic arm of The Cigna Group (NYSE: CI), today announced its first round of grant recipients for its new initiative to support youth mental health. As part of this grant program, The Cigna Group Foundation has allocated $9 million to nonprofit organizations over the next three years to intervene in the youth mental health crisis. "At a time when there's been a significant uptick in demand of mental health care, The Cigna ...

The Cigna Group (CI) reported second-quarter 2024 adjusted earnings per share (EPS) of $6.72, which beat the Zacks Consensus Estimate by 4.7%. The bottom line improved 9.6% year over year. Adjusted revenues were $60.5 billion, which climbed 24.4% year over year on the back of large client wins in the Evernorth Health Services segment. The top line outpaced the consensus mark by 3.4%. The quarterly results were driven by growth in the Specialty and Care Services businesses within the Evernorth Health Service ...

The Cigna Group (NYSE:CI) Q2 2024 Earnings Conference Call August 1, 2024 8:30 AM ET Company Participants Ralph Giacobbe - SVP of IR David Cordani - Chairman and CEO Brian Evanko - CFO, and President and CEO, Cigna Healthcare Eric Palmer - President and CEO, Evernorth Health Services Conference Call Participants Justin Lake - Wolfe Research Lisa Gill - JPMorgan A.J. Rice - UBS Andrew Mok - Barclays Scott Fidel - Stephens Ryan Langston - TD Cowen Josh Raskin - Nephron Research George Hill - Deutsche Bank Er ...

Cigna (CI) reported $60.47 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 24.4%. EPS of $6.72 for the same period compares to $6.13 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $58.49 billion, representing a surprise of +3.39%. The company delivered an EPS surprise of +4.67%, with the consensus EPS estimate being $6.42. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ex ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number 001-3876 ...

Cigna (CI) came out with quarterly earnings of $6.72 per share, beating the Zacks Consensus Estimate of $6.42 per share. This compares to earnings of $6.13 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 4.67%. A quarter ago, it was expected that this health insurer would post earnings of $6.17 per share when it actually produced earnings of $6.47, delivering a surprise of 4.86%. Over the last four quarters, the company has s ...

Exhibit 99.1 Press Release INVESTOR RELATIONS CONTACT: Ralph Giacobbe 860-787-7968 Ralph.Giacobbe@TheCignaGroup.com MEDIA CONTACT: Justine Sessions 860-810-6523 Justine.Sessions@Evernorth.com The Cigna Group Reports Strong Second Quarter 2024 Results • Total revenues for the second quarter 2024 increased 25% to $60.5 billion • Shareholders' net income for the second quarter 2024 was $1.5 billion, or $5.45 per share • Adjusted income from operations for the second quarter 2024 was $1.9 billion, or $6.72 per ...

Total revenues for the second quarter 2024 increased 25% to $60.5 billion Shareholders' net income for the second quarter 2024 was $1.5 billion, or $5.45 per share Adjusted income from operations1 for the second quarter 2024 was $1.9 billion, or $6.72 per share 2024 outlook2 for adjusted income from operations1,2 is at least $28.40 per share BLOOMFIELD, Conn., Aug. 1, 2024 /PRNewswire/ -- Global health company The Cigna Group (NYSE: CI) today reported strong second quarter 2024 results reflecting broad-base ...