8-KRegulation FD

Cigna Group 8-K Report, Regulation FD Disclosure (Aug 20, 2020)

Filed August 20, 2020For Securities:CI

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.

Frequently Asked Questions

Cigna expects to achieve consolidated adjusted revenues between $154 billion and $156 billion for the full year 2020. Additionally, consolidated adjusted income from operations on a per share basis is projected to be in the range of $18.00 to $18.60.

Cigna reiterates its commitment to achieving a consolidated adjusted income from operations on a per share basis of $20.00 to $21.00 for the full year 2021.

Adjusted revenues exclude net realized investment results from equity method investments and special items. Adjusted income from operations excludes net realized investment results, amortization of acquired intangible assets, and special items. Cigna's management uses these non-GAAP measures to present the underlying results of operations and to analyze trends in performance, as they believe these items are not indicative of past or future underlying business performance.

No, these are forward-looking statements and are subject to various risks and uncertainties, including the impact of the COVID-19 pandemic, regulatory changes, and other factors that could cause actual results to differ materially from those projected. The company undertakes no obligation to update these statements.