Cigna Exceeds Q3 Forecasts, Shares Up 4%

Cigna surpassed Wall Street expectations for its third-quarter financial results, reporting an adjusted earnings of $7.51 per share, above the consensus estimate of $7.22. This performance was driven by strong contributions from its Evernorth Health Services unit, which includes the pharmacy benefits manager Express Scripts, and the introduction of biosimilar drugs like Humira. Despite a significant $1 billion non-cash investment loss related to VillageMD, Cigna achieved a net income of $739 million and increased its total revenue by 30% to $63.7 billion. The company's shares rose by 4% following the announcement, reflecting investor relief amid broader health insurance industry challenges. Cigna also affirmed its earnings outlook, anticipating at least a 10% growth in earnings-per-share for the next year.