WASHINGTON (dpa-AFX) - (Adds Outlook)
Cigna Group (CI) on Thursday maintained its fiscal 2024 earnings and revenue outlook below market, despite reporting higher second-quarter earnings above the Street estimates.
In pre-market activity on the NYSE, Cigna shares were losing around 1.05 percent to trade at $345.00.
For fiscal 2024, the company continues to expect adjusted income from operations of at least $8.065 billion or $28.40 per share.
Analysts on average expect the company to report earnings of $28.50 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company still expects to generate adjusted revenue of at least $235 billion, below the analysts' estimate of $235.51 billion.
Q2 Results
In its second quarter, the company's company's bottom line came in at $1.548 billion, or $5.45 per share. This compares with $1.460 billion, or $4.92 per share, in last year's second quarter.
Adjusted earnings were $1.909 billion or $6.72 per share for the period. Analysts had expected the company to earn $6.41 per share.
The company's revenue for the quarter rose 24.6% to $60.523 billion from $48.586 billion last year.
Cigna Group earnings at a glance (GAAP) :
-Earnings (Q2): $1.548 Bln. vs. $1.460 Bln. last year. -EPS (Q2): $5.45 vs. $4.92 last year. -Revenue (Q2): $60.523 Bln vs. $48.586 Bln last year.
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