Cigna Corp. (CI) Tops Q2 EPS by 66c, Revenues Beat; Offers FY20 EPS/Revenue Guidance

Cigna Corp. (NYSE: CI) reported Q2 EPS of $5.81, $0.66 better than the analyst estimate of $5.15. Revenue for the quarter came in at $39.3 billion versus the consensus estimate of $37.75 billion.

• Total revenues in the second quarter were $39.3 billion. Adjusted revenues1 were $39.2 billion.
• Shareholders' net income for second quarter was $1.8 billion, or $4.73 per share
• Adjusted income from operations2 for the second quarter was $2.2 billion, or $5.81 per share
• Adjusted income from operations2,3 is projected to be in the range of $18.00 to $18.60 per share in 20203

"Cigna's mission to improve the health, well-being and peace of mind of those we serve continues to guide us as we remain relentlessly focused on supporting the needs of our customers, clients, and communities," said David M. Cordani, President and Chief Executive Officer. "Our stakeholders are facing unprecedented challenges from the pandemic, uncertainty of a disrupted economy, and pain of racial tensions and inequality. We are proud of the actions we have taken to provide innovative programs and services and expanded financial support, all while delivering sustained, attractive financial performance and generating substantial cash flows that fuel our offerings for the benefit of all we serve."

GUIDANCE:

Cigna Corp. sees FY2020 EPS of $18.00-$18.60, versus the consensus of $18.45. Cigna Corp. sees FY2020 revenue of $154-156 billion, versus the consensus of $154.53 billion.

Cigna's outlook for full year 2020 adjusted revenues1,3 is $154 billion to $156 billion. Cigna's outlook for full year 2020 consolidated adjusted income from operations2,3 on a per share basis is in the range of $18.00 to $18.60 per share. Cigna's outlook excludes potential effects of any future share repurchase3. Also, while Cigna continues to expect to close the sale of Cigna's Group Disability and Life business in the third quarter of 2020, Cigna's outlook assumes a full year of contributions from the Group Disability and Life business.

The foregoing statements represent the Company's current estimates of Cigna's 2020 consolidated adjusted revenues1,3 and adjusted income from operations2,3 on a per share basis as of the date of this release. Actual results may differ materially depending on a number of factors. Investors are urged to read the Cautionary Note Regarding Forward-Looking Statements included in this release. Management does not assume any obligation to update these estimates.

For earnings history and earnings-related data on Cigna Corp. (CI) click here.

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