Cigna Raises Full-Year Outlook as Healthcare Revenue Grows
The company increased its full-year 2026 adjusted income from operations projection to at least $30.45 per share
The Cigna Group (CI), the global health services company, reported second-quarter total revenues of $71.7 billion. The result represented a 7% increase year-over-year, accelerating from the 5% growth recorded in the first quarter.
Adjusted income from operations per share for the quarter was $7.78, a 6% increase from the $7.20 reported in the second quarter of 2024. The figure was slightly lower than the $7.79 per share reported in the prior quarter.
Cigna Healthcare saw adjusted revenues increase 9% year-over-year, with pre-tax adjusted income from operations rising 17%. However, the medical care ratio rose to 84.5% from 83.2% in the second quarter of 2024. The company will exit the Individual and Family Plans medical business effective January 1, 2027.
Evernorth Health Services reported a 6% year-over-year increase in adjusted revenues, though pre-tax adjusted income from operations decreased 2%. Within that segment, Pharmacy Benefit Services pre-tax adjusted income from operations fell 27% year-over-year due to customer-focused initiatives and client contract renewals.
Growth in Specialty and Care Services offset some of the pharmacy decline, with pre-tax adjusted income from operations increasing 22% year-over-year. Higher generic and biosimilar adoption and organic growth in specialty businesses were the primary drivers.
Operating efficiency improved as the SG&A expense ratio fell to 4.8% from 5.1% in the second quarter of 2024. The ratio also decreased from 5.4% in the first quarter of 2026.
Customer metrics were mixed. Total medical customers increased 2% from December 31, 2025, to 18.4 million. Conversely, total pharmacy customers decreased 4% to 118.2 million, accelerating a decline from the 2% drop reported as of March 31, 2026. Total customer relationships fell 3% from year-end 2025 to 182.8 million.
Cigna raised its full-year 2026 outlook for adjusted income from operations to at least $30.45 per share, up $0.10 from the previous projection of $30.35. The company also increased its full-year pre-tax adjusted income from operations projection for Cigna Healthcare by $25 million to at least $4.55 billion.