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Cigna Group (NYSE:CI) reported net revenue of $1. 4 billion in the third quarter of 2023, compared to $2. 8 billion in the third quarter of 2022 due to an after-tax gain from the Chubb transaction.
Adjusted operating source of revenue for the third quarter of 2023: $2 billion, compared to $1. 9 billion in the third quarter of 2022.
Total profit for the third quarter of 2023 of $49,048 million, compared to $45,281 million in the third quarter of 2022.
Cigna Group (NYSE:CI) raised its full-year 2023 adjusted earnings outlook to at least $192 billion and its consolidated adjusted operating source to at least $7. 36 billion.
Published on November 2, 2023, The Cigna Group (NYSE: CI) reported strong third-quarter results, reflecting earnings and earnings expansion across its diversified portfolio of businesses. The company’s net source of earnings for the third quarter of 2023 was $1. 4 billion, or $4. 74 per share, compared to $2. 8 billion, or $8. 97 per share, for the third quarter of 2022. The reduction in net profit is due to an after-tax gain of $1. 4 billion from the Chubb transaction last year.
Cigna Group’s adjusted or consistent source of revenue for the third quarter of 2023 was $2. 0 billion, or $6. 77 consistent with participation, compared to $1. 9 billion, or $6. 05 consistent with participation, for the 3. er quarter of 2022. This accumulation reflects strong contributions from Evernorth Health Services and Cigna Healthcare.
Total profit for the third quarter of 2023 was $49. 048 billion, compared to $45. 281 billion in the third quarter of 2022. Adjusted profit for the same period $49. 078 billion, compared to $45. 361 billion in the third quarter of 2022.
The Cigna Group reported a total of 98. 325 million pharmaceutical visitors, 19. 607 million visitors, and 164. 169 million total visitor relationships as of September 30, 2023.
The Evernorth Health Services segment reported adjusted profit of $38. 596 billion and adjusted pretax operating source of $1. 716 billion for the third quarter of 2023. The Cigna Healthcare segment reported an adjusted profit of $12. 768 billion and an adjusted pretax operating source of $1. 222 billion for the same quarter.
Cigna Group raised its full-year 2023 adjusted earnings outlook to at least $192. 0 billion, up from the previous projection. The Company’s full-year 2023 consolidated earnings outlook is at least $7. 36 billion, or at least $24. 75 consistent with consistent. with percentage. This outlook includes the expected long-term effect consistent with percentage buybacks and dividends expected for 2023.
For more detailed monetary information, please visit the Investor Relations segment of the Cigna Group’s online page in https://investors. thecignagroup. com/overview/default. aspx.
See the full version of Cigna Group’s 8-K effects (here) for more details.
This article was first published on GuruFocus.