CI - The Cigna Group (CI) Q4 2023 Earnings Call Transcript
2024-02-02 11:51:02 ET
The Cigna Group (CI)
Q4 2023 Earnings Conference Call
February 02, 2024, 08:30 AM ET
Company Participants
Ralph Giacobbe - SVP of IR
David Cordani - Chairman and CEO
Brian Evanko - CFO, and President and CEO, Cigna Healthcare
Eric Palmer - President and CEO, Evernorth Health Services
Conference Call Participants
A.J. Rice - UBS
Stephen Baxter - Wells Fargo
Lisa Gill - JPMorgan
George Hill - Deutsche Bank
Josh Raskin - Nephron Research
Scott Fidel - Stephens
Kevin Fischbeck - Bank of America
Erin Wright - Morgan Stanley
Justin Lake - Wolfe Research
Lance Wilkes - Bernstein
Gary Taylor - TD Cowen
Dave Windley - Jefferies
Presentation
Operator
Ladies and gentlemen, thank you for standing by for the Cigna Group's Fourth Quarter 2023 Results Review. [Operator Instructions] As a reminder, ladies and gentlemen, this conference, including the Q&A session, is being recorded.
We'll begin by turning the conference over to Ralph Giacobbe. Please go ahead.
Ralph Giacobbe
Great. Thanks, operator. Good morning, everyone. Thank you for joining today's call. I'm Ralph Giacobbe, Senior Vice President of Investor Relations. With me on the line this morning are David Cordani, The Cigna Group's Chairman and Chief Executive Officer; Brian Evanko, Chief Financial Officer of the Cigna Group and President and Chief Executive Officer of Cigna Healthcare; and Eric Palmer, President and Chief Executive Officer of Evernorth Health Services.
In our remarks today, David and Brian will cover a number of topics including our fourth quarter and full year 2023 financial results and our financial outlook for 2024. Following their prepared remarks, David, Brian and Eric will be available for Q&A.
As noted in our earnings release, when describing our financial results, we use certain financial measures including adjusted income from operations and adjusted revenues, which are not determined in accordance with accounting principles generally accepted in the United States, otherwise known as GAAP.
A reconciliation of these measures to the most directly comparable GAAP measures, shareholders net income and total revenues, respectively, is contained in today's earnings release, which is posted in the Investor Relations section of the cignagroup.com.
We use the term labeled adjusted income from operations and adjusted earnings per share on the same basis as our principal measures of financial performance. In our remarks today, we will be making some forward-looking statements, including statements regarding our outlook for 2024 and future performance.
These statements are subject to risks and uncertainties that could cause actual results to differ materially from our current expectations. A description of these risks and uncertainties is contained in the cautionary note to today's earnings release and in our most recent reports filed with the SEC.
Pertaining to our financial results, in the fourth quarter, we recorded a net after-tax special item charge of $552 million or $1.88 per share. Details of the special items are included in our quarterly financial supplement. As described in today's release, special items are excluded from adjusted income from operations and adjusted revenues in our discussion of financial results.
Additionally, please note that when we make prospective comments regarding financial performance, including our full year 2024 outlook, we will do so on a basis that includes the potential impact of future share repurchases and anticipated 2024 dividends....
The Cigna Group (CI) Q4 2023 Earnings Call Transcript