Summary
Cigna Group (CI) reported solid financial results for the nine months ended September 30, 2022. Total revenues increased by 5% to $134.765 billion. Shareholders' net income saw a significant increase of 29% to $5.499 billion, driven largely by a substantial gain on the sale of international businesses and improved adjusted income from operations. The company demonstrated strong operational performance, with adjusted income from operations rising by 7% to $5.770 billion. This growth was supported by expansion in its Evernorth segment and improved medical cost ratios in the Cigna Healthcare segment. The sale of international businesses provided a significant boost to net income, while the company continued its capital return strategy through share repurchases and dividends.
Financial Highlights
48 data points| Revenue | $45.28B |
| Cost of Revenue | $31.78B |
| Gross Profit | $13.50B |
| SG&A Expenses | $3.15B |
| Operating Income | $2.14B |
| Interest Expense | $317.00M |
| Net Income | $2.76B |
| EPS (Basic) | $9.07 |
| EPS (Diluted) | $8.97 |
| Shares Outstanding (Diluted) | 307.52M |
Key Highlights
- 1Total revenues increased by 5% to $134.765 billion for the nine months ended September 30, 2022.
- 2Shareholders' net income rose by 29% to $5.499 billion for the nine months ended September 30, 2022.
- 3Adjusted income from operations increased by 7% to $5.770 billion for the nine months ended September 30, 2022.
- 4A significant gain of $1.735 billion was recognized from the sale of international life, accident, and supplemental benefits businesses.
- 5Evernorth segment revenues grew by 8%, demonstrating continued business expansion.
- 6Cigna Healthcare segment saw improved medical care ratios, contributing to a 14% increase in pre-tax adjusted income from operations.
- 7The company returned capital to shareholders through share repurchases totaling $5.8 billion and dividend payments.