Cigna Posts Solid 3Q Results, Aided by Diversity and Minimal Gov’t Business
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Nov 01, 2024
The Cigna Group on Oct. 31 posted third-quarter results that exceeded most analysts’ projections, bucking the industry trends that other managed care organizations have revealed in recent weeks. Unlike those insurers, Cigna does not have a significant Medicare or Medicaid business, both of which have seen higher-than-expected utilization this year and reimbursement rates that are not enough to offset the increased costs.
For the quarter, Cigna had a medical loss ratio (MLR) of 82.8%, just below the Wall Street consensus of 82.7%. It also had adjusted earnings per share (EPS) of $7.51, above the $7.23 consensus. Cigna also reiterated its full-year guidance of an MLR between 81.7% and 82.5% and adjusted EPS of at least $28.40.
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