Earnings summaries and quarterly performance for Cigna.
Executive leadership at Cigna.
David Cordani
Detailed
Chief Executive Officer
CEO
Brian Evanko
Detailed
Executive Vice President, Chief Financial Officer, and President and Chief Executive Officer, Cigna Healthcare
David Brailer
Detailed
Executive Vice President and Chief Health Officer
Nicole Jones
Detailed
Executive Vice President, Chief Administrative Officer, and General Counsel
Noelle Eder
Detailed
Executive Vice President, Global Chief Information Officer
Board of directors at Cigna.
Donna Zarcone
Detailed
Director
Elder Granger
Detailed
Director
Eric Foss
Detailed
Director
Eric Wiseman
Detailed
Lead Independent Director
George Kurian
Detailed
Director
Kathleen Mazzarella
Detailed
Director
Kimberly Ross
Detailed
Director
Mark McClellan
Detailed
Director
Michael Hennigan
Detailed
Director
Neesha Hathi
Detailed
Director
Philip Ozuah
Detailed
Director
Research analysts who have asked questions during Cigna earnings calls.
Andrew Mok
Barclays
5 questions for CI
Also covers: ACHC, ADUS, AGL +21 more
Erin Wright
Morgan Stanley
5 questions for CI
Also covers: ALGN, BTSG, CAH +18 more
Justin Lake
Wolfe Research, LLC
5 questions for CI
Also covers: AGL, CNC, CVS +8 more
Lisa Gill
JPMorgan Chase & Co.
5 questions for CI
Also covers: AGL, CAH, COR +13 more
Charles Rhyee
TD Cowen
4 questions for CI
Also covers: AMWL, BTSG, CAH +18 more
Joshua Raskin
Nephron Research
4 questions for CI
Also covers: AIRS, BKD, CNC +13 more
Albert Rice
UBS
3 questions for CI
Also covers: ACHC, AMED, AMN +20 more
George Hill
Deutsche Bank
3 questions for CI
Also covers: AGL, CAH, CNC +16 more
Scott Fidel
Stephens Inc.
3 questions for CI
Also covers: ACHC, ADUS, ALHC +17 more
Adam Ron
Bank of America Corporation
2 questions for CI
Also covers: AGL, ALHC, CNC +3 more
Ann Hynes
Mizuho Financial Group
2 questions for CI
Also covers: ARDT, BTSG, CNC +17 more
Jason Cassorla
Guggenheim Partners
2 questions for CI
Also covers: ACHC, ARDT, CYH +8 more
Kevin Fischbeck
Bank of America
2 questions for CI
Also covers: AMN, ARDT, CCRN +9 more
A.J. Rice
UBS Group AG
1 question for CI
Also covers: ACHC, AMED, AMN +20 more
Andrew Rice
UBS
1 question for CI
Benjamin Hendrix
RBC Capital Markets
1 question for CI
Also covers: ACHC, ADUS, AHCO +25 more
Lance Wilkes
Sanford C. Bernstein & Co., LLC
1 question for CI
Also covers: AGL, CNC, ELV +4 more
Michael Hop
Baird
1 question for CI
Ryan Langston
TD Cowen
1 question for CI
Also covers: ACHC, ADUS, AGL +15 more
Sarah James
Cantor Fitzgerald
1 question for CI
Also covers: ACHC, AMED, CNC +15 more
Stephen Baxter
Wells Fargo & Company
1 question for CI
Also covers: AGL, BTSG, CAH +15 more
Recent press releases and 8-K filings for CI.
Cigna details transition to rebate-free PBM model
CI
Guidance Update
New Projects/Investments
- Reaffirmed full-year EPS guidance of at least $29.60, underscoring strong operational execution amid market challenges
- Launched a transformative rebate-free PBM model delivering upfront drug discounts, a flat administrative fee delinked from drug prices, and pharmacy reimbursements at acquisition cost plus dispense fee
- Rollout schedule set for fully insured Cigna Healthcare clients in 2027 and the broader Express Scripts book in 2028, with manufacturer recontracting ongoing
- Investing equally in 2026–2027 across technology, process/operations optimization, client and manufacturer recontracting, and data analytics to support the dual-track model; investment spend to dissipate in 2028
- Proactively extended contracts with Centene, Prime Therapeutics, and the DOD—totaling $90 billion in revenues—through the end of the decade to ensure volume stability
Nov 12, 2025, 4:00 PM
Cigna reports Q3 2025 results
CI
Earnings
Guidance Update
New Projects/Investments
- Cigna posted $69.7 billion in revenues and $1.9 billion net income; adjusted EPS of $7.83, and reaffirmed 2025 guidance of at least $29.60 per share.
- Transitioning to a rebate-free pharmacy benefits model, aiming for 50% adoption by 2028.
- Completed strategic investment in Shields Health Solutions to bolster specialty services.
- Healthcare insurance revenue fell 18% due to the sale of Medicare Advantage plans; Evernorth segment revenue rose 15% year over year.
- Served 18.1 million members in Q3, with the Department of Defense as its largest PBM contract through 2029.
Oct 30, 2025, 4:25 PM
Cigna reports Q3 2025 results and outlines PBM transformation
CI
Earnings
Guidance Update
New Projects/Investments
- The Cigna Group posted Q3 revenues of $69.7 billion and adjusted EPS of $7.83, and reaffirmed its full-year 2025 EPS outlook of at least $29.60.
- Evernorth delivered Q3 revenues of $60.4 billion and pre-tax adjusted earnings of $1.9 billion; within that, specialty and care services grew revenues 10% to $26.3 billion with earnings up 11% to $928 million, while pharmacy benefit services reported $34.1 billion in revenues and $1 billion in earnings, all in line with expectations.
- Cigna Healthcare generated Q3 revenues of $10.9 billion and pre-tax adjusted earnings of $1 billion; its medical care ratio was 84.8%, with higher risk-adjustment revenue offset by operating cost efficiencies.
- Looking to 2026, the company expects EPS growth, with Cigna Healthcare and specialty/care services growing at the high end of their long-term targets, while pharmacy benefit services operating income will decline due to strategic client renewals and investments in a new model.
- Cigna is rolling out a rebate-free, delinked fee-based pharmacy benefits model, to be adopted 100% for fully insured lives in 2027, broadly offered in January 2028, and transitioning ≥50% of its book by end-2028, backed by investments in recontracting, technology, and analytics.
Oct 30, 2025, 12:30 PM
Cigna reports Q3 2025 results
CI
Earnings
Guidance Update
Product Launch
- The Cigna Group posted Q3 revenue of $69.7 billion and adjusted EPS of $7.83, reaffirming its full-year 2025 adjusted EPS outlook of at least $29.60.
- Evernorth delivered $60.4 billion in revenues and $1.9 billion of pre-tax adjusted earnings, driven by 10% revenue growth in specialty and care services (to $26.3 billion) and stable pharmacy benefit services (revenues $34.1 billion, earnings $1.0 billion).
- Cigna Healthcare reported $10.9 billion in revenues and $1.0 billion of pre-tax adjusted earnings, with a medical care ratio of 84.8%, as higher individual exchange costs were offset by operating efficiencies.
- The company unveiled a rebate-free, delinked fee-based pharmacy benefits model—mandatory for fully insured lives in 2027 and covering 50% of its book by end-2028—expecting short-term margin pressure in pharmacy benefit services but EPS growth in 2026.
- Through Q3, operating cash flow was $3.4 billion and debt-to-capitalization stood at 44.9%, underpinning ongoing cash returns and strategic investments.
Oct 30, 2025, 12:30 PM
Cigna Group reports Q3 2025 results
CI
Earnings
Guidance Update
- Total revenues rose 10% year-over-year to $69.7 billion in Q3 2025.
- Shareholders’ net income was $1.9 billion, or $6.98 per share, up from $0.7 billion, or $2.63 per share in Q3 2024.
- Adjusted income from operations amounted to $2.1 billion, or $7.83 per share in Q3 2025, broadly in line with prior year.
- The company reaffirmed its 2025 adjusted EPS outlook of at least $29.60 per share.
Oct 30, 2025, 10:15 AM
Cigna reports strong third quarter 2025 results
CI
Earnings
Guidance Update
Product Launch
- Cigna Group’s total revenues for Q3 2025 rose 10% year-over-year to $69.7 billion.
- Shareholders’ net income was $1.9 billion, or $6.98 per share; adjusted income from operations was $2.1 billion, or $7.83 per share.
- The company reaffirms its full-year 2025 outlook for consolidated adjusted income from operations of at least $29.60 per share.
- Launched a new rebate-free pharmacy benefit model to lower costs, improve transparency, and support local pharmacies.
Oct 30, 2025, 10:00 AM
Cigna to roll out rebate-free pharmacy model nationwide by 2028
CI
New Projects/Investments
Product Launch
- The new Evernorth model eliminates post-purchase rebates, offering upfront discounts negotiated with drug manufacturers at the point of sale to improve pricing transparency.
- It is expected to reduce average monthly prescription costs by about 30% for consumers, especially those with high-deductible health plans.
- Cigna Healthcare plans to adopt the model for fully insured members in 2027, with full implementation across all Evernorth clients by 2028.
- Starting in 2026, a new reimbursement structure will compensate community pharmacies based on medication costs plus dispensing fees and payments for clinical services.
- The model features technology that automatically compares pricing options at the pharmacy counter to ensure consumers pay the lowest available price.
Oct 27, 2025, 10:32 AM
Cigna unveils rebate-free pharmacy benefit model
CI
Product Launch
- Evernorth, Cigna’s health services arm, introduced a transparent, rebate-free pharmacy benefit model to lower out-of-pocket drug costs and simplify pricing for consumers and employers.
- The new model will cut brand-name prescription costs by an average of 30% for Americans, particularly those in high-deductible plans, by automatically selecting the lowest of negotiated, cash discount, direct-to-consumer or copay prices.
- Cigna Healthcare will adopt the rebate-free benefit for fully insured members in 2027, with general availability to all Evernorth pharmacy clients in 2028.
- A revamped pharmacy reimbursement framework, effective 2026, pays community pharmacies on a cost-plus dispensing-fee basis and offers additional fees for clinical services, aiming to support local providers and improve patient care.
Oct 27, 2025, 10:15 AM
Cigna and UnitedHealthcare to Cover Cleerly LABS Plaque Analysis from October 2025
CI
- Starting October 1, 2025, Cigna and UnitedHealthcare will provide coverage for Cleerly LABS AI-powered coronary CT plaque analysis.
- Coverage aligns with Medicare local coverage determinations and EviCore guidelines, deeming AI-QCT/AI-CPA medically necessary for patients with acute or stable chest pain and specific CAD-RADS categories.
- Cleerly LABS is validated against invasive modalities, achieving 0.96 AUC vs. IVUS and 0.97 AUC vs. NIRS, and benchmarked against Level III readers.
- The policy aims to broaden access to noninvasive plaque quantification, enabling personalized treatment decisions and reducing invasive diagnostic procedures.
Sep 30, 2025, 3:02 PM
Cigna announces nationwide coverage of Heartflow’s next-gen AI plaque analysis
CI
Product Launch
- Heartflow’s next-gen AI-powered Plaque Analysis platform received FDA 510(k) clearance, offering advanced 3D visualization and improved plaque detection for coronary artery disease diagnosis.
- Cigna will provide nationwide coverage of Heartflow’s plaque analysis across all its plans starting in October, joining UnitedHealth in covering the technology.
- The platform leverages data from over 273,000 patients and is the only FDA-cleared AI plaque quantification tool validated against intravascular ultrasound (IVUS).
- Experts highlight its role in delivering detailed insights into plaque type, volume, and distribution to enhance risk prediction and personalize treatment.
Sep 22, 2025, 8:26 PM
Quarterly earnings call transcripts for Cigna.
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