Cigna 2Q Revenue Rises, Earnings Beat as Markets Normalize
August 05 2021 - 6:31AM
Dow Jones News
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 matt.grossman@wsj.com
(END) Dow Jones Newswires
August 05, 2021 06:29 ET (10:29 GMT)
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