Summary
This Form 8-K filing from Cigna Group (CI) primarily serves to reaffirm the company's financial outlook for the remainder of 2020 and its targets for 2021. Management expects to maintain projected full-year 2020 consolidated adjusted revenues between $154 billion and $156 billion. Furthermore, Cigna officials anticipate reaffirming their projected full-year 2020 consolidated adjusted income from operations on a per share basis within the range of $18.00 to $18.60. Looking ahead, the company reiterates its commitment to achieving a consolidated adjusted income from operations per share of $20.00 to $21.00 in 2021. These projections were previously discussed in a July 30, 2020, press release and investor presentation. The filing also clarifies the definitions of "adjusted revenues" and "adjusted income from operations," emphasizing that these non-GAAP measures are used by management to present underlying business performance and trends, and are not intended to be a substitute for GAAP measures. Investors should note the inherent uncertainties in these forward-looking statements, particularly given the ongoing impact of the COVID-19 pandemic.
Key Highlights
- 1Cigna reaffirms projected full year 2020 consolidated adjusted revenues of $154 billion to $156 billion.
- 2Full year 2020 consolidated adjusted income from operations per share projected to be in the range of $18.00 to $18.60.
- 3Cigna reiterates target for full year 2021 consolidated adjusted income from operations per share of $20.00 to $21.00.
- 4The outlook was previously communicated on July 30, 2020, and is being reaffirmed in investor meetings.
- 5Definitions for "adjusted revenues" and "adjusted income from operations" are provided, clarifying these non-GAAP metrics.
- 6Management uses adjusted metrics to represent underlying business performance and trends.
- 7The filing includes standard forward-looking statement disclaimers regarding risks and uncertainties, including the impact of COVID-19.