BLOOMFIELD, Conn., Aug. 15, 2024 /PRNewswire/ -- Global health company The Cigna Group (NYSE:CI) announced today that David Cordani, Chairman and Chief Executive Officer, will present at the Morgan Stanley 22nd Annual Global Healthcare Conference on September 5, 2024, in New York, NY. The Cigna Group's presentation is expected to begin at approximately 10:45 a.m. ET. A live webcast of the presentation will be available at https://investors.thecignagroup.com/events-and-presentations/default.aspx in the Inves ...

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 ...

Financial Data and Key Metrics Changes - The Cigna Group reported total revenue of $60.5 billion for Q2 2024, representing a 25% year-over-year growth [23] - Adjusted earnings per share (EPS) for the quarter were $6.72, reflecting a 10% year-over-year increase [23] - The company reaffirmed its full-year 2024 adjusted EPS outlook of at least $28.40, indicating more than 13% year-over-year growth [21][27] Business Line Data and Key Metrics Changes - Evernorth's revenues grew to $49.5 billion in Q2 2024, with pretax adjusted earnings increasing by 7% to $1.6 billion [24] - Specialty and Care Services within Evernorth saw revenue up 18% to $22.9 billion, with pretax adjusted earnings up 12% to $756 million [24] - Cigna Healthcare reported Q2 2024 revenues of $13.2 billion and pretax adjusted earnings of $1.2 billion, with a medical care ratio of 82.3% [25] Market Data and Key Metrics Changes - The company ended Q2 2024 with 19 million total medical customers, expecting growth primarily in the U.S. employer Select and Middle market segments [26] - The net medical cost payable at the end of Q2 was $5.04 billion, down from $5.66 billion at the end of Q1 [26] Company Strategy and Development Direction - Cigna is focused on innovation and expanding its capabilities in both foundational and accelerated growth businesses [22] - The company is leveraging its strengths in specialty drugs and pharmacy benefit services to drive growth, particularly through biosimilars and integrated care solutions [9][10] - Cigna is addressing the increasing demand for behavioral health services and virtual care as part of its strategic initiatives [12][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting 2024 and long-term growth targets, citing a proven track record of delivering differentiated value [20] - The company acknowledged the challenges posed by rising pharmaceutical costs and emphasized its role in negotiating fair prices for clients [16][17] - Management noted that elevated utilization trends are in line with expectations and pricing assumptions for 2024 [31][32] Other Important Information - Cigna has repurchased 14.7 million shares of common stock for approximately $5 billion as part of its capital management strategy [28] - The company is on track to generate at least $11 billion in cash flow from operations in 2024 [28] Q&A Session Summary Question: Update on cost trends by business line and comparison to previous quarter - Management indicated that total cost of care was broadly in line with expectations, with elevated usage of facility-based services and mental health care continuing [30][31] Question: Opportunities in the 2025 pharmacy selling season - Management highlighted strong new sales and retention rates for Express Scripts, with a focus on programs that enhance the value of medication spending [34][35] Question: Distinctive trends in the health benefit selling season - Management noted consistent RFP numbers and emphasized affordability, integration of services, and mental health benefits as key themes [39][41] Question: Impact of changes to Part D on Evernorth - Management acknowledged potential disruptions from the Inflation Reduction Act and emphasized their capabilities in supporting health plans through these changes [45][46] Question: Marketplace trends and risk adjustment impacts - Management confirmed that the individual exchange business is performing as expected, with a small unfavorable true-up recorded but not materially impacting results [49][50] Question: Sequential membership changes in the exchange business - Management explained that the decline in individual exchange members was primarily due to pricing actions taken to improve profitability [53][54] Question: Potential impact of ICRA on the small group market - Management views the ICRA market as a niche opportunity, particularly for smaller employers, and sees potential for participation through the individual exchange business [57] Question: Updates on retail pharmacy negotiations - Management stated that they continue to innovate and offer a range of network options to balance access and affordability for clients [60][61] Question: Guidance and expectations for future performance - Management reaffirmed their full-year guidance, citing strong performance and prudent outlook in a dynamic environment [64]

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 ...

Group 1: Earnings Performance - Cigna reported quarterly earnings of $6.72 per share, exceeding the Zacks Consensus Estimate of $6.42 per share, and up from $6.13 per share a year ago, representing an earnings surprise of 4.67% [1] - The company posted revenues of $60.47 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 3.39%, compared to year-ago revenues of $48.62 billion [2] - Cigna has surpassed consensus EPS estimates four times over the last four quarters, indicating consistent strong performance [2] Group 2: Stock Performance and Outlook - Cigna shares have increased approximately 16.4% since the beginning of the year, outperforming the S&P 500's gain of 15.8% [3] - The company's earnings outlook is crucial for investors, with current consensus EPS estimates at $7.80 for the coming quarter and $28.48 for the current fiscal year [7] - The Zacks Rank for Cigna is currently 2 (Buy), suggesting that the shares are expected to outperform the market in the near future [6] Group 3: Industry Context - The Medical - HMOs industry, to which Cigna belongs, is currently in the top 22% of over 250 Zacks industries, indicating a favorable industry outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Cigna's stock performance [5]

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 ...