[The Cigna Group Q1 2024 Earnings Release](index=1&type=section&id=The%20Cigna%20Group%20Q1%202024%20Earnings%20Release) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) The company reported strong Q1 2024 revenue and adjusted income, though a significant impairment loss on VillageMD equity securities led to a net loss Q1 2024 Key Financial Metrics | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Total Revenues | $57.3 billion | $46.5 billion | | Shareholders' Net (Loss) Income | ($0.3 billion) | $1.3 billion | | Shareholders' Net (Loss) Income per Share | ($0.97) | $4.24 | | Adjusted Income from Operations | $1.9 billion | $1.6 billion | | Adjusted Income from Operations per Share | $6.47 | $5.41 | - The reported shareholders' net loss was driven by a **non-cash after-tax investment loss of $1.8 billion** ($6.31 per share) from the impairment of VillageMD equity securities[1](index=1&type=chunk) - The company raised its full-year 2024 outlook for adjusted income from operations to **at least $28.40 per share**[1](index=1&type=chunk)[22](index=22&type=chunk) [Consolidated Performance](index=2&type=section&id=Consolidated%20Performance) Consolidated revenues grew 23% year-over-year driven by the Evernorth segment, alongside improved operating efficiency and a higher debt-to-capitalization ratio - **Total revenues increased by 23%** compared to Q1 2023, mainly due to substantial growth in the Evernorth Health Services segment from new large client acquisitions[43](index=43&type=chunk) SG&A Expense Ratio Comparison | Ratio | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | SG&A Expense Ratio | 6.5% | 7.6% | | Adjusted SG&A Expense Ratio | 6.4% | 7.6% | - The **debt-to-capitalization ratio rose to 44.3%** at the end of Q1 2024, up from 40.1% at year-end 2023, largely due to the timing of debt issuance for Accelerated Share Repurchase (ASR) agreements[44](index=44&type=chunk) [Customer Relationships](index=3&type=section&id=Customer%20Relationships) Total pharmacy customers surged by 25% to 122.8 million fueled by new sales, while total medical customers saw a slight decrease to 19.2 million Customer Relationships (in thousands) | Category | March 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Total Pharmacy Customers | 122,767 | 98,570 | | Total Medical Customers | 19,184 | 19,780 | - The **25% increase in pharmacy customers** since December 31, 2023, was a result of new sales and the continued expansion of existing relationships[25](index=25&type=chunk) - The decrease in total medical customers was primarily driven by a reduction in Individual and Family Plans customers due to targeted pricing actions[6](index=6&type=chunk) [Segment Performance](index=4&type=section&id=Segment%20Performance) Both Evernorth Health Services and Cigna Healthcare segments delivered strong results, with significant revenue growth in Evernorth and improved profitability in Cigna Healthcare - Evernorth Health Services' **adjusted revenues grew 28%** in Q1 2024 vs Q1 2023, reflecting large client wins and strong organic growth[49](index=49&type=chunk) - Cigna Healthcare's **adjusted income from operations (pre-tax) increased 20%** relative to Q1 2023, primarily driven by a lower MCR[52](index=52&type=chunk) [Evernorth Health Services](index=4&type=section&id=Evernorth%20Health%20Services) Adjusted revenues grew 28% to $46.2 billion driven by new clients, though pre-tax adjusted margin compressed due to onboarding costs and strategic investments Evernorth Financials (in millions) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Adjusted Revenues | $46,226 | $36,179 | | Adjusted Income from Operations, Pre-Tax | $1,360 | $1,320 | | Adjusted Margin, Pre-Tax | 2.9% | 3.6% | - Revenue growth was driven by several large client wins and continued expansion of existing relationships, along with strong organic growth in Specialty and Care Services[49](index=49&type=chunk) - The 3% increase in adjusted pre-tax income reflects growth in Specialty and Care Services, partially offset by planned investments for new client onboarding and advancing digital and care solutions[28](index=28&type=chunk) [Cigna Healthcare](index=5&type=section&id=Cigna%20Healthcare) Adjusted revenues grew 4% to $13.3 billion, with a 20% increase in pre-tax adjusted income due to an improved Medical Care Ratio Cigna Healthcare Financials (in millions) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Adjusted Revenues | $13,277 | $12,718 | | Adjusted Income from Operations, Pre-Tax | $1,340 | $1,115 | | Adjusted Margin, Pre-Tax | 10.1% | 8.8% | | Medical Care Ratio (MCR) | 79.9% | 81.3% | - Adjusted revenue growth of 4% was attributed to premium rate increases designed to cover expected rises in underlying medical costs, as well as business mix[11](index=11&type=chunk) - The **MCR improved to 79.9%** from 81.3% in Q1 2023 due to effective pricing execution, affordability initiatives, and favorable business mix[30](index=30&type=chunk) [Corporate and Other Operations](index=5&type=section&id=Corporate%20and%20Other%20Operations) This segment reported a pre-tax adjusted loss from operations of $391 million, largely consistent with the prior year's loss of $399 million Adjusted Loss from Operations, Pre-Tax (in millions) | Period | Amount | | :--- | :--- | | Q1 2024 | ($391) | | Q1 2023 | ($399) | - The Corporate segment reflects interest expense and amounts not allocated to operating segments, including intersegment eliminations and results from run-off operations[17](index=17&type=chunk) [2024 Full-Year Outlook](index=6&type=section&id=2024%20Full-Year%20Outlook) The company raised its full-year 2024 adjusted EPS forecast to at least $28.40 and increased its outlook for Cigna Healthcare's pre-tax adjusted income Full Year 2024 Projections | Metric | Projection | Change from Prior | | :--- | :--- | :--- | | **Consolidated** | | | | Adjusted Revenues | at least $235,000M | Unchanged | | Adjusted Income from Operations | at least $8,065M | +$40M | | Adjusted EPS | at least $28.40 | +$0.15 | | **Cigna Healthcare** | | | | Adj. Income from Operations, Pre-Tax | at least $4,775M | +$25M | | Medical Care Ratio | 81.7% to 82.5% | -10 bps at midpoint | - The outlook includes the impact of expected future share repurchases and anticipated 2024 dividends[13](index=13&type=chunk)[56](index=56&type=chunk) [Shareholder Activities](index=2&type=section&id=Shareholder%20Activities) The company repurchased 10.1 million shares for approximately $3.4 billion year-to-date through May 1, 2024, via open market and ASR agreements - From year-to-date through May 1, 2024, the company **repurchased 10.1 million shares for approximately $3.4 billion**[24](index=24&type=chunk) - The repurchases include an initial delivery of **7.6 million shares under Accelerated Share Repurchase (ASR) agreements**, with final settlement expected in Q2 2024[24](index=24&type=chunk) [Important Notes and Disclosures](index=7&type=section&id=Important%20Notes%20and%20Disclosures) This section defines key non-GAAP financial measures and includes a cautionary note regarding forward-looking statements and associated risks - **Adjusted income from operations** is a key non-GAAP measure that excludes net realized investment results, amortization of acquired intangible assets, and special items to present the underlying operational results[34](index=34&type=chunk) - **Adjusted revenues** is a non-GAAP measure defined as total revenues excluding special items and the company's share of certain realized investment results from its joint ventures[68](index=68&type=chunk) - The report contains a cautionary note that **forward-looking statements are subject to numerous risks and uncertainties**, and should not be relied upon as guarantees of future performance[61](index=61&type=chunk)[72](index=72&type=chunk)

Total revenues for the first quarter 2024 were $57.3 billion Shareholders' net loss for the first quarter 2024 was $0.3 billion, or $0.97 per share Adjusted income from operations1 for the first quarter 2024 was $1.9 billion, or $6.47 per share 2024 outlook2 for adjusted income from operations1,2 increased to at least $28.40 per share BLOOMFIELD, Conn., May 2, 2024  /PRNewswire/ -- Global health company The Cigna Group (NYSE: CI) today reported strong first quarter 2024 results reflecting growth across it ...

Investors are always looking for stocks that are poised to beat at earnings season and The Cigna Group (CI) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Cigna is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator ...

The Cigna Group (CI) is set to sustain its earnings beat streak for the first quarter of 2024, the results for which are scheduled to be released on May 2, before the opening bell. Growth in commercial memberships and strengthening performance in Cigna Healthcare and Evernorth businesses are expected to continue driving its results.The combination of these factors, alongside other favorable conditions, is expected to have a positive impact on its stock performance, which has already been surpassing its peer ...

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In its upcoming report, Cigna (CI) is predicted by Wall Street analysts to post quarterly earnings of $6.17 per share, reflecting an increase of 14.1% compared to the same period last year. Revenues are forecasted to be $56.64 billion, representing a year-over-year increase of 21.9%.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Prior to a company's earn ...

Declining youth mental health persists, and many young people receive fragmented care Managing a child's mental health needs significantly impacts working parents, both personally and professionally Opportunity for employers to strengthen approach to family mental health, drive improved health outcomes The Cigna Group announced new, multiyear philanthropic and community engagement program to improve youth mental health BLOOMFIELD, Conn., April 26, 2024 /PRNewswire/ -- Many American children struggling wit ...

High- and low-concentration interchangeable biosimilar will be available, estimated to save individual patients around $3,500 on average per year  Biosimilar price will be about 85% lower than Humira®* BLOOMFIELD, Conn., April 25, 2024 /PRNewswire/ -- In an important step toward driving long-term affordability and access to treatments for chronic and complex conditions, Evernorth Health Services announced that it will have a Humira® biosimilar available for $0 out of pocket for eligible patients of its sp ...

BLOOMFIELD, Conn., April 24, 2024 /PRNewswire/ -- The Board of Directors of The Cigna Group (NYSE: CI) today declared a cash dividend of $1.40 per share of its common stock, payable on June 20, 2024 to shareholders of record as of the close of business on June 4, 2024. About The Cigna Group The Cigna Group (NYSE:CI) is a global health company committed to creating a better future built on the vitality of every individual and every community. We relentlessly challenge ourselves to partner and innovate solut ...

In the latest trading session, Cigna (CI) closed at $352.65, marking a -0.15% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.2%. Meanwhile, the Dow experienced a rise of 0.69%, and the technology-dominated Nasdaq saw an increase of 1.59%.Heading into today, shares of the health insurer had lost 0.67% over the past month, outpacing the Medical sector's loss of 5.82% and the S&P 500's loss of 4.16% in that time.Analysts and investors alike will be keeping a close ...