Cigna 2Q Revenue Rises, Earnings Beat as Markets Normalize

By Matt Grossman

Cigna Corp. on Thursday posted higher second-quarter sales year over year and better-than-expected adjusted earnings as business improved in its health-services and insurance businesses.

The Bloomfield, Conn.-based healthcare company posted shareholders' net income of $4.25 a share, compared with $4.73 a share in the same three-month period a year earlier. Total shareholders' net income was $1.47 billion, compared with $1.75 billion in 2020's second quarter.

Stripping out one-time items, Cigna's adjusted income was $5.24 a share. Analysts had forecast adjusted earnings of $4.96 a share, according to FactSet.

Revenue was $43.13 billion, a rise from $39.27 billion 12 months earlier. Analysts were expecting revenue of $41.19 billion.

Revenue in the Evernorth segment, which covers pharmacy services, benefits management, care solutions and data and analytics, rose by 14% on an adjusted basis, in part because prescriptions recovered compared with the earlier stages of the pandemic.

Revenue from the U.S. medical segment was up by 13% on an adjusted basis amid customer growth and higher premiums.

Write to Matt Grossman at [e-mail]

(END) Dow Jones Newswires

August 05, 2021 06:29 ET (10:29 GMT)

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