Cigna Tops Revenue Estimates at $73.7 Billion; Adjusted EPS Beats at $7.98

The Cigna Group (NYSE: CI) reported third-quarter revenue of $73.7 billion, above the $72.45 billion analysts expected, and adjusted earnings of $7.98 per share against the $7.51 consensus estimate, in an 8-K filed Thursday, Nov. 5, 2026.

Revenue rose 6% from a year earlier. Shareholders' net income was $1.4 billion, or $5.47 per share, down from $1.9 billion, or $6.98 per share, a year earlier. The company attributed the decline to the absence of an after-tax gain on sale recognized in the third quarter of 2025. Adjusted income from operations was $2.1 billion, or $7.98 per share, compared with $7.83 per share a year earlier.

Evernorth and Cigna Healthcare

Evernorth Health Services adjusted revenues rose 6% to $63.8 billion, while pre-tax adjusted income fell 4% to $1.83 billion. Pharmacy Benefit Services pre-tax income decreased 22% to $765 million, which the company tied to large client contract renewals and strategic investments. Specialty and Care Services pre-tax income rose 15% to $1.06 billion.

Cigna Healthcare adjusted revenues increased 9% to $11.7 billion, primarily reflecting premium rate increases. Pre-tax adjusted income rose 15% to $1.19 billion. The segment's medical care ratio was 85.0%, compared with 84.8% a year earlier.

Outlook and capital return

Cigna raised its full-year 2026 adjusted income from operations outlook to at least $30.60 per share, up $0.15 from its prior projection. The average analyst estimate for the full year was $30.51. For the fourth quarter, analysts expected adjusted EPS of $7.42 and revenue of $74.58 billion.

At its Investor Day, the company set long-term targets including a 10% to 14% adjusted EPS compound annual growth rate and about $50 billion in cumulative operating cash flow through 2030. It also announced its Accelerate to One initiative, a $3 billion modernization and productivity program. Year to date through Nov. 4, the company repurchased 1.8 million shares for about $500 million.

The stock closed at $305.41 on Wednesday, Nov. 4, the last trading session before the filing.