Cigna Reports Earnings Of $1.35B In Q3

AP
October 31, 2019 - 8:16 am
cigna-logo.jpg
Categories: 

BLOOMFIELD, Conn. (WTIC and AP) - Cigna Corp. (CI) on Thursday reported third-quarter earnings of $1.35 billion.

The Bloomfield, Connecticut-based company said it had profit of $3.57 per share. Earnings, adjusted for one-time gains and costs, came to $4.54 per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $4.37 per share.

The health insurer posted revenue of $38.56 billion in the period. Its adjusted revenue was $35.83 billion, which also topped Street forecasts. Five analysts surveyed by Zacks expected $34.1 billion.

Cigna expects full-year earnings in the range of $16.80 to $17 per share.

Cigna shares have dropped 7% since the beginning of the year, while the Standard & Poor's 500 index has increased 22%. The stock has decreased 16% in the last 12 months.

© Copyright 2018 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.