Cigna posts Q1 GAAP net loss $0.97/share on VillageMD impairment; adj EPS $6.47, outlook raised

Cigna Group

2024-Q1 EPS reported -$0.97 revenue$57,255,000,000

Shareholders' net loss $277M ($0.97 loss per share) includes $1.8B non-cash impairment of VillageMD equity securities.
Adjusted income from operations $1.875B ($6.47/share), up from $5.41 YoY; raises 2024 adj EPS outlook to at least $28.40.
Evernorth Health Services revenue $46.2B (+28% YoY); Cigna Healthcare MCR improved to 79.9% from 81.3%.
Total pharmacy customers 122.8M (+25% from Dec 2023); medical customers 19.2M; share buybacks $3.4B YTD.
Medicare sale to HCSC on track, expected close Q1 2025; cyber incident impacted claims processing and net medical costs payable.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Cigna Group reported first quarter 2024 results: revenue $57.3 billion, net income $0.3 billion, EPS $0.97 per share. Guidance raised.

Period: first quarter 2024
Revenue: $57.3 billion
Net income: $0.3 billion
EPS: $0.97 per share
Guidance: raised
Result: reported results

Exact text from the filing

The Cigna Group Reports Strong First Quarter 2024 Results, Raises 2024 Outlook • Total revenues for the first quarter 2024 were $57.3 billion • Shareholders’ net loss for the first quarter 2024 was $0.3 billion, or $0.97 per share

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Source: SEC EDGAR

accession 0000950159-24-000134

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