Cigna stock gains, as profit and revenue rise above expectations
Shares of Cigna Corp. CI, 1.19% gained 0.5% in premarket trading Friday, after the health services company reported first-quarter profit and revenue that rose above expectations, as total customer…
From the Equity Insider archive. This article dates from May 7, 2021 and is preserved as first published.
Shares of Cigna Corp. CI, 1.19% gained 0.5% in premarket trading Friday, after the health services company reported first-quarter profit and revenue that rose above expectations, as total customer relationships grew 14% and pharmacy customers increased 28%. Net income was $1.16 billion, or $3.30 a share, compared with $1.18 billion, or $3.15 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to $4.73 from $4.69, beating the FactSet consensus of $4.37.
Revenue grew 6.5% to $40.97 billion, above the FactSet consensus of $40.21 billion. Customer relationships increased to 189.9 million from 167.0 million, as pharmacy customers rose to 101.0 million from 78.8 million. Cigna’s stock has rallied 23.4% year to date through Thursday, while the S&P 500 SPX, 0.72% has advanced 11.9%.
