Cigna Corp. (CI) Tops Q1 EPS by 32c; Guides In-Line; Raises Outlook
Cigna Corp. (NYSE: CI) reported Q1 EPS of $2.77, $0.32 better than the analyst estimate of $2.45. Revenue for the quarter came in at $10.4 billion versus the consensus estimate of $10.08 billion.
- Total revenues increased 5% to $10.4 billion in the first quarter
- Shareholders’ net income for the first quarter was $598 million, or $2.30 per share
- Adjusted income from operations1 in the first quarter increased 20% to $719 million, or $2.77 per share
- Global medical customer base2 is now projected to grow in the range of 500,000 to 600,000 lives in 2017
- Adjusted income from operations1,3 is now projected to grow in the range of 15% to 20%, to $2.41 billion to $2.53 billion in 2017, or $9.25 to $9.75 per share
“Cigna's strong first quarter performance reflects the value we are delivering to our customers and clients through affordable, high-quality and personalized solutions,” said David M. Cordani, President and Chief Executive Officer. “We expect continued positive momentum and growth across targeted customer segments, fueled by ongoing investments in innovative products and services.”
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