Cigna Corp. CI, +0.74% reported Thursday a fourth-quarter adjusted profit that fell below expectations, while revenue rose above forecasts. The health services and insurance company’s stock was still inactive in premarket trading. Net income rose to $4.14 billion, or $11.45 a share, from $977 million, or $2.60 a share, in the year-ago period. Excluding non-recurring items, such as gains from the sale of assets, adjusted earnings per share fell to $3.51 from $4.31, missing the FactSet consensus of $3.68. Total revenue rose 9.1% to $41.71 billion, topping the FactSet consensus of $39.96 billion, as pharmacy revenue and premiums both grew more than forecast. Total pharmacy customers at the end of 2020 rose 17.5% to 89.2 million, while total medical customers fell 2.8% to 16.7 million. “Our fourth quarter results were in line with expectations, as we continued to make investments in our customers, capabilities, and co-workers – all while covering elevated COVID-related costs,” said Chief Executive David Cordani. The stock has gained 4.2% over the past three months, while the S&P 500 SPX, +0.10% has advanced 11.2%.
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