By Connor Hart
Cigna swung to a profit and logged higher revenue in the first quarter, prompting the company to raise its full-year outlook.
The company, which includes a pharmacy-benefit manager as well as its namesake health insurer, posted a profit of $1.32 billion, or $4.85 a share, for its three months ended March 31, compared with a loss of $277 million, or 97 cents a share, a year earlier.
Adjusted per-share earnings came in at $6.74, ahead of the $6.35 that analysts surveyed by FactSet expected.
Total revenue increased 14%, to $65.5 billion, and topped the $60.2 billion that analysts modeled. The company attributed its higher top line in part to having grown existing client relationships.
Total customer relationships stood at 182.2 million at the end of the recent quarter, roughly flat from the end of 2024 and down from 186.8 million at the end of last year's first quarter.
Adjusted revenue from Cigna's Evernorth Health Services increased 16%, to $53.68 billion, comprising $29.74 billion in revenue from pharmacy-benefit services and $23.94 billion in speciality and care services.
Adjusted revenue from the company's namesake health insurer rose 9.1%, to $14.48 billion.
For the year, Cigna now expects adjusted earnings of at least $29.60 a share, marking a 10-cent a share increase from its prior guidance. Analysts forecast adjusted earnings of $29.59 a share, according to FactSet.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
May 02, 2025 06:00 ET (10:00 GMT)
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