Cigna Reports $1.4B Q3 Profit On Health Plan, Evernorth Growth; Lifts Annual Guidance
Portfolio Pulse from Vandana Singh
Cigna Corporation has reported Q3 FY23 sales of $49.08 billion, up 8% Y/Y, beating the consensus of $48.20 billion. This growth is attributed to strong performance across Evernorth Health Services and Cigna Healthcare. The company also revised its FY23 adjusted EPS guidance to at least $24.75, up from $24.70, and projected FY23 revenues of at least $192 billion. Cigna's shares are up 0.87% at $312.11.
November 02, 2023 | 2:21 pm
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POSITIVE IMPACT
Cigna's Q3 FY23 sales beat consensus, driven by strong growth in Evernorth Health Services and Cigna Healthcare. The company also raised its FY23 adjusted EPS guidance and projected higher revenues. This positive news led to a 0.87% increase in Cigna's share price.
Cigna's better-than-expected Q3 sales and raised FY23 guidance indicate strong performance and positive future outlook, which are likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100