Summary
Cigna Group (CI) reported strong first-quarter 2019 results, significantly driven by the recent acquisition of Express Scripts. Total revenues surged by 232% year-over-year to $37.9 billion, primarily due to the inclusion of Express Scripts' pharmacy and medical management businesses. Shareholders' net income grew 50% to $1.37 billion, or $3.56 per diluted share. Adjusted income from operations, a key non-GAAP metric, also increased by 48% to $1.5 billion, though diluted EPS on this basis saw a slight decrease to $3.90 due to share dilution from the acquisition. The Health Services segment, largely comprising the Express Scripts business, showed substantial revenue growth. The Integrated Medical segment also demonstrated resilience with a 13% increase in adjusted revenues and improved profitability. Despite a significant increase in interest expense related to acquisition financing, the company's overall financial performance reflects a successful integration of Express Scripts, positioning Cigna for continued growth in the health services landscape.
Financial Highlights
49 data pointsKey Highlights
- 1Total Revenues increased 232% to $37.9 billion, driven by the acquisition of Express Scripts.
- 2Shareholders' Net Income increased 50% to $1.37 billion ($3.56 per diluted share).
- 3Adjusted Income from Operations increased 48% to $1.5 billion ($3.90 per diluted share), though diluted EPS saw a slight decrease due to share dilution from the acquisition.
- 4The Health Services segment, largely encompassing Express Scripts, showed significant revenue contribution.
- 5The Integrated Medical segment experienced a 13% increase in adjusted revenues and improved profitability.
- 6Selling, General, and Administrative expenses increased, primarily due to the inclusion of Express Scripts' operations and integration costs.
- 7Interest expense significantly increased due to debt financing for the Express Scripts acquisition.