CignaNYSE: CI

Infirmary Health's hospitals, services, and doctors along Alabama's Gulf Coast are now part of the network for Cigna Healthcare's Medicare Advantage customers. This agreement, announced on November 1, 2024, allows Cigna's MA customers to access Infirmary Health's resources.

The main figures for Cigna (CI) provide an overview of the company's performance for the quarter that ended in September 2024. However, it could be useful to compare some important metrics with Wall Street predictions and the results from the same period last year.

CI's impressive results for the third quarter are largely due to the success of the Evernorth Health Services division. However, increased costs have somewhat balanced out these positive outcomes.

Cigna (CI) reported quarterly earnings of $7.51 per share, which is higher than the Zacks Consensus Estimate of $7.22 per share. This is an increase compared to earnings of $6.77 per share from the same period last year.

On Thursday, Cigna exceeded Wall Street's expectations for its third-quarter profits. This was due to its pharmacy benefit management division gaining new clients and experiencing high demand for a popular arthritis medication's generic version.

In the third quarter of 2024, total revenues rose by 30% to reach $63.7 billion. The net income for shareholders was $0.7 billion, translating to $2.63 per share, while the adjusted income from operations was $2.1 billion, or $7.51 per share. The Cigna Group has confirmed its 2024 forecast for adjusted income from operations to be at least $28.40 per share.

The Cigna Group will hold its Q3 2024 Earnings Conference Call on October 31, 2024, at 8:30 AM ET. Key company participants include Ralph Giacobbe, David Cordani, Brian Evanko, and Eric Palmer. The call will also feature analysts from various financial institutions, and all attendees will be in listen-only mode.

Experts predict that the company will announce earnings of $7.23 per share for the third quarter, along with sales totaling $59.6 billion.

There are rumors about a big merger in the healthcare industry involving two large health insurance companies. It is said that The Cigna Group, listed on the NYSE as CI, wants to buy Humana Inc., which is listed as HUM.