CI - CIGNA Non-GAAP EPS of $4.96 beats by $0.09 revenue of $45.75B in-line 2023 outlook below estimates

February, 03 2023 06:00 AM Cigna Corporation

CIGNA ( NYSE: CI ): Q3 Non-GAAP EPS of $4.96 beats by $0.09 .
Revenue of $45.75B (+0.2% Y/Y) in-line.
The Cigna Healthcare MCR of 84.0% for fourth quarter 2022 compares to 87.0% for fourth quarter 2021, reflecting lower direct COVID-19 costs and improved stop-loss results. The fourth quarter 2022 MCR also benefited from effective execution in pricing and affordability initiatives.
Cigna's outlook for full year 2023 adjusted revenues is projected to be at least $187.0 billion vs $190.20B consensus. Cigna’s outlook for full year 2023 consolidated adjusted income from operations is projected to be at least $7.33 billion, or at least $24.60 per share vs $24.80 consensus.
Total customer relationships at the end of 2022 grew by 2% to 189.7 million.
Total pharmacy customer base in 2022 decreased by 2% to 105.6 million due to client attrition in early 2022.
The total medical customer base at the end of 2022 grew 5% to 18.0 million, an increase of 923,000 customers from December 31, 2021, primarily driven by growth in U.S. Commercial, partially offset by a decrease in U.S. Government inclusive of the divestiture of the Medicaid business.

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