Cigna Sees Higher FY17 Adj. EPS, Below Market Estimates - Quick Facts

(RTTNews) - Health insurer Cigna Corp. (CI) Thursday said it expects fiscal 2017 consolidated adjusted income from operations in the range of $2.35 billion to $2.48 billion, or $9.00 to $9.50 per share. Adjusted income from operations is projected to grow in the range of 12% to 18% from the prior year.

On average, 17 analysts polled by Thomson Reuters expect earnings of $9.54 per share for the year. Analysts' estimates typically exclude special items.

For full year 2016, Cigna's adjusted income from operations was $2.1 billion, or $8.10 per share.

Cigna's outlook excludes the impact of additional prior year reserve development and potential effects of any future capital deployment.

Total revenue growth for the year is expected to be in the range of 2% to 3% from $39.7 billion reported in 2016.

For the fourth quarter of 2016, Shareholders' net income declined to $382 million from $426 million last year. Shareholders' net income per share was $1.47, compared to $1.64 a year ago.

Adjusted income from operations was $485 million, or $1.87 per share, compared with $486 million, or $1.87 per share, in 2015.

Total Revenues increased to $ 9.94 billion from $9.53 billion a year ago.

Analysts expected earnings of $1.74 per share on revenues of $9.91 billion.