Cigna beats second-quarter estimates with $7.78 adjusted earnings per share, $71.67 billion revenue, and improved operating efficiency.
Stock Earnings Results
July 30, 2026
Table of Contents
July 30, 2026
The Cigna Group (NYSE: CI) reported second-quarter 2026 results above expectations, supported by higher revenue, stronger adjusted income from operations, growth in Cigna Healthcare, operating efficiency, and an increased full-year outlook.
Cigna is a global health company operating through Evernorth Health Services and Cigna Healthcare. The company provides pharmacy benefit services, specialty care services, medical plans, coordinated health solutions, and related healthcare services across more than 30 markets and jurisdictions.
The company reported adjusted income from operations of $7.78 per share, above estimates of $7.58, representing a 2.6% earnings surprise. Revenue came in at $71.67 billion, above estimates of $71.43 billion, with revenue growth of 6.7%.
Total revenue increased 7% year-over-year to $71.67 billion.
Adjusted revenue was $71.56 billion.
Shareholders’ net income increased to $1.66 billion, or $6.29 per share.
Adjusted income from operations increased to $2.05 billion, or $7.78 per share.
That compared with adjusted income from operations of $1.93 billion, or $7.20 per share, in the prior-year quarter.
Cigna’s SG&A expense ratio improved to 4.8% from 5.1% in the prior-year quarter.
Adjusted SG&A expense ratio improved to 4.6% from 4.9%.
The improvement was mainly driven by operating efficiency.
Year to date through July 29, Cigna repurchased 0.9 million shares for about $250 million.
Total customer relationships were 182.8 million at June 30, 2026.
That was down 3% from December 31, 2025.
Total pharmacy customers declined 4% from year-end to 118.2 million, reflecting expected client transitions and lower membership from health plan clients.
Total medical customers increased 2% from year-end to 18.4 million.
The growth in medical customers was driven by Middle and Select markets, partly offset by lower membership in National Accounts.
Evernorth Health Services adjusted revenue increased 6% year-over-year to $61.47 billion.
Adjusted income from operations before tax declined 2% to $1.66 billion.
Pharmacy Benefit Services adjusted revenue increased 8%, mainly due to drug mix.
Pharmacy Benefit Services adjusted income from operations before tax declined 27%, reflecting client-focused initiatives, large client contract renewals, and customer-focused initiatives.
Specialty and Care Services adjusted revenue increased 4%, helped by specialty volume growth.
Specialty and Care Services adjusted income from operations before tax increased 22%, driven by specialty growth, higher generic and biosimilar adoption, and operating efficiencies.
Cigna Healthcare adjusted revenue increased 9% year-over-year to $11.73 billion.
Adjusted income from operations before tax increased 17% to $1.28 billion.
The increase was primarily driven by improved margin in the U.S. Employer business.
Cigna said adjusted revenue growth reflected premium rate increases to cover expected increases in medical costs.
The Cigna Healthcare medical care ratio was 84.5%, compared with 83.2% in the prior-year quarter.
Cigna raised its full-year 2026 adjusted income from operations outlook.
The company now expects adjusted income from operations of at least $30.45 per share.
That is up $0.10 from the prior outlook.
Cigna also raised its Cigna Healthcare adjusted income from operations before tax outlook to at least $4.55 billion, up $25 million from the prior projection.
The company maintained its Cigna Healthcare medical care ratio outlook of 83.7% to 84.7%.
Evernorth adjusted income from operations before tax is still expected to be at least $6.90 billion.
Cigna delivered a solid managed care and health services quarter.
Revenue beat expectations, adjusted income from operations topped estimates, Cigna Healthcare profit improved, SG&A efficiency strengthened, and management raised its full-year adjusted outlook. The results showed continued growth across the diversified business, even as pharmacy customer relationships declined and Evernorth profit was mixed.
The key question is whether Cigna can keep improving healthcare margins while managing pharmacy benefit contract pressure and medical cost trends.
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