Cigna Group Raises FY23 Guidance

(RTTNews) - The Cigna Group (CI) announced the company now expects 2023 adjusted income from operations per share of at least $24.70, an increase of $0.10 from prior guidance. Adjusted revenues are now expected to be at least $188 billion, an increase of $1 billion from prior year.

First quarter shareholders' net income was $1.3 billion, or $4.24 per share, compared with $1.2 billion, or $3.73 per share, last year. Adjusted income from operations was $1.6 billion, or $5.41 per share, compared with $1.9 billion, or $6.06 per share. On average, 22 analysts polled by Thomson Reuters expected the company to report profit per share of $5.24, for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased to $46.52 billion from $44.01 billion, prior year. Adjusted revenues increased to $46.48 billion from $44.11 billion. Analysts on average had estimated $45.53 billion in revenue.

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