Cigna's full-year 2024 earnings report

Cigna Surpasses Q2 2024 Earnings Expectations with 25% Revenue Growth to $60.5 Billion

Aug 1, 2024, 10:15 AM

Cigna reported strong second-quarter earnings for 2024, surpassing Wall Street expectations. The company's total revenues increased by 25% to $60.5 billion, driven by growth in its health services division, Evernorth, and lower-than-expected medical costs. Shareholders' net income for the quarter was $1.5 billion, or $5.45 per share, while adjusted income from operations was $1.9 billion, or $6.72 per share. The strength in Cigna's pharmacy benefit management unit, bolstered by the addition of a major new client, also contributed to the positive results. Cigna reaffirmed its full-year 2024 expectation for consolidated adjusted income from operations of at least $8.065 billion, or at least $28.40 per share.