Cigna Lifts 2026 Outlook After Q3 Adjusted EPS Reaches $7.98

The Cigna Group lifted its 2026 adjusted earnings outlook to at least $30.60 a share after reporting third-quarter adjusted income from operations of $7.98 per share on $73.7 billion in revenue, the Bloomfield, Connecticut-based health company said Thursday.

Total revenues rose 6% from $69.7 billion a year earlier, driven by growth in Evernorth Health Services and Cigna Healthcare, according to the company’s results release. Shareholders’ net income was $1.4 billion, or $5.47 a share, down from $1.9 billion, or $6.98, a year earlier, mainly because last year’s quarter included an after-tax gain on a sale that did not recur. Adjusted income from operations was $2.1 billion, or $7.98 a share, versus $2.1 billion, or $7.83, in the year-ago quarter.

An Associated Press earnings snapshot carried by Yahoo Finance said the adjusted figure beat a $7.46 consensus from seven Zacks Investment Research analysts and that adjusted revenue of $73.79 billion topped a $73.53 billion Street forecast.

Customers and segments

Total medical customers rose 2% from Dec. 31, 2025, to 18.5 million, while total pharmacy customers fell 5% to 117.7 million amid client transitions and lower health-plan membership, the company said. Behavioral care customers dropped 19% after a government contract ended, with what Cigna described as minimal impact on revenues and adjusted income from operations.

Evernorth’s pre-tax adjusted income from operations was $1.83 billion, down 4% from a year earlier, as Pharmacy Benefit Services results declined on large client renewals and investments while Specialty and Care Services rose 15%. Cigna Healthcare’s pre-tax adjusted income rose 15% to $1.19 billion; its medical care ratio was 85.0%, compared with 84.8% a year earlier.

Balance sheet and guidance

Debt-to-capitalization was 41.8% at Sept. 30, down from 44.9% a year earlier. Through Nov. 4, Cigna said it had repurchased about 1.8 million shares for roughly $500 million. The company raised its full-year 2026 adjusted income-from-operations outlook by 15 cents to at least $30.60 a share and narrowed its Cigna Healthcare medical care ratio guide to 84.2% plus or minus 25 basis points.

President and Chief Executive Brian Evanko said the quarter showed “disciplined execution” as the company advances a multiyear modernization and productivity program it calls Accelerate to One.

Sources: The Cigna Group, Associated Press via Yahoo Finance