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- Cigna Corp CI reports Q3 total revenues of $44.3 billion, +8.6% Y/Y, ahead of the consensus of $42.91 billion, reflecting strong contributions from each of Cigna's ongoing businesses.
- Q3 adjusted EPS reached $5.73 compared with $4.41 a year ago, beating the consensus of $5.22.
- The pharmacy customer base grew to 103.6 million, up 6.3% Y/Y, and an organic increase of 4.8 million YTD, driven by ongoing solid retention and new sales.
- The total medical customer base reached 17 million, increasing 368,000 customers YTD, up marginally by 0.35% Y/Y.
- Evernorth adjusted revenues increased 13% Y/Y $33.6 billion driven by strong organic growth.
- Evernorth fulfilled 411 million pharmacy scripts, +8% Y/Y led by organic growth.
- U.S. Medical adjusted revenues grew 9% to $10.49 billion.
- The debt-to-capitalization ratio was 42%, reflecting an increase in short-term debt levels and execution of the accelerated share repurchase agreements.
- The SG&A expense ratio was 7%, a decrease from 8.1% from Q3 2020.
- Guidance: Cigna expects FY21 sales of at least $172 billion ($170 billion previously).
- It expects adjusted EPS guidance of at least $20.35 versus the consensus of $20.29.
- The outlook continues to include a net unfavorable impact from COVID-19.
- Related: Cigna Offloads Life Insurance Business To Chubb In $5.75B Deal.
- Price Action: CI shares are up 0.25% at $218.79 during the premarket session on the last check Thursday.
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