WASHINGTON (dpa-AFX) - Health insurer Cigna Group (CI) reported Thursday slightly lower profit in its second quarter, despite higher revenues. However, adjusted earnings and top line beat market estimates. Further, the company maintained fiscal 20-25 outlook, below the Street view.
For fiscal 2025, the company continues to project adjusted income from operations of at least $29.60 per share.
Analysts, on average, forecast Cigna to report adjusted income per share of $29.69 for the year. Analysts' estimates typically exclude special items.
In the second quarter, shareholders' net income edged down to $1.532 billion from last year's $1.548 billion. Earnings per share were $5.71, up from $5.45 last year.
Cigna Group's adjusted income from operations for second quarter was $1.93 billion or $7.20 per share, compared with $1.91 billion or $6.72 per share a year ago.
The Wall Street analysts expected the company to report earnings of $7.15 per share.
Total revenues for the second quarter increased 11% to $67.18 billion from last year's $60.52 billion. Revenue growth reflected continued growth and solid performance across its diverse portfolio of businesses.
Adjusted revenues were $67.13 billion, up from $60.47 billion last year. The Street was looking for revenues of $62.61 billion.
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