WASHINGTON (dpa-AFX) - Healthcare and insurance company Cigna Group (CI) reported Friday a profit in its first quarter, compared to prior year's loss, with higher revenues. Further, the firm raised its adjusted earnings outlook for fiscal 2025.
In pre-market activity on the NYSE, Cigna shares were gaining around 1.2 percent to trade at $339.06.
For fiscal 2025, the company now projects adjusted income from operations of at least $29.60 per share, $0.10 higher than previous estimate of at least $29.50.
Analysts, on average, forecast Cigna to report adjusted income per share of $29.60 for the year. Analysts' estimates typically exclude special items.
In its first quarter, shareholders' net income was $1.32 billion or $4.85 per share, compared to loss of $277 million or $0.97 per share a year ago.
Adjusted income from operations was $1.84 billion or $6.74 per share, compared to $1.88 billion or $6.47 per share a year ago.
Analysts expected earnings of $6.35 per share for the quarter.
Total revenues for first quarter 2025 increased 14 percent to $65.50 billion from last year's $57.26 billion, reflecting growth of existing client relationships and strong specialty pharmacy growth in Evernorth Health Services.
The Street was looking for revenues of $60.38 billion for the quarter.
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