Cigna Q3 Profit Surges; Lifts 2019 Outlook

(RTTNews) - Cigna Corp. (CI) reported that its Shareholders' net income for third quarter 2019 rose to $1.35 billion or $3.57 per share, from $0.77 billion or $3.14 per share, for third quarter 2018.

Adjusted income from operations for quarter 2019 surged to $1.72 billion, or $4.54 per share, from last year's $0.95 billion, or $3.84 per share, reflecting strong earnings contributions led by the Health Services and Integrated Medical segments.

Total revenues for third quarter 2019 were $38.6 billion. Adjusted revenues were $35.8 billion and reflect strong contributions from each of Cigna's ongoing businesses.

Analysts polled by Thomson Reuters expected the company to report earnings of $4.36 per share and revenues of $34.2 billion for the quarter. Analysts' estimates typically exclude special items.

For full year 2019, the company now expects adjusted income from operations to be in the range of $6.38 billion to $6.46 billion or $16.80 to $17.00 per share, and adjusted revenues of about $138.00 billion. Wall Street currently is looking for fiscal year 2019 earnings of $16.80 per share on annual revenues of $136.79 billion.

The company said in August that it expected adjusted income from operations guidance to a range of $16.60 to 16.90 per share, and Total adjusted revenues of $136.00 billion to $137.00 billion.