$CI · Cigna Group
Cigna reported Q3 FY2026 results: total revenues rose 6% to $73.7B, shareholders' net income fell to $1.4B ($5.47/share) from $1.9B ($6.98/share) a year ago, and adjusted income from operations was $2.1B ($7.98/share) versus $7.83/share. The company raised its 2026 adjusted EPS outlook to at least $30.60 (+$0.15) and narrowed its Cigna Healthcare MCR projection to 84.2% +/- 25 bps. It also announced a $3B "Accelerate to One" productivity initiative and long-term targets of 10%-14% adjusted EPS CAGR and ~$50B cumulative operating cash flow through 2030.
- Q3 total revenues rose 6% to $73.7B.
- Adjusted EPS of $7.98 beat prior-year $7.83.
- GAAP net income fell to $1.4B from $1.9B on absence of a 2025 gain on sale.
- 2026 adjusted EPS outlook raised to at least $30.60, up $0.15.
- Pharmacy Benefit Services pre-tax adjusted income fell 22% on client renewals and investments.
Extended-hours last trade $315.00, +3.14% vs regular close, signaling a positive reaction to the guidance raise and beat.
A guidance raise plus a new $3B productivity program and long-term 10%-14% EPS CAGR target give investors a concrete growth roadmap.
Cigna's PBM margin pressure from large client renewals mirrors sector-wide pharmacy benefit pricing headwinds, offset by strong specialty and healthcare growth.
Pharmacy Benefit Services pre-tax adjusted income fell 22% on large client contract renewals and strategic investments; medical care ratio ticked up to 85.0% from 84.8%.