Cigna Raises Annual Profit Forecast Due to Strong Performance in Health Services Unit
Cigna raised its annual profit forecast for 2026 following a stronger-than-expected second-quarter performance, driven by growth in pharmacy and specialty drug services. The company's Evernorth Health Services unit reported $61.47 billion in adjusted revenue during the quarter—a 6% increase—benefiting from higher demand for specialty drugs used to treat complex conditions like cancer and multiple sclerosis. Cigna has been shifting its focus away from government-backed health insurance programs, such as Medicare Advantage and Affordable Care Act plans, due to rising medical costs. Instead, it is concentrating on employer-sponsored healthcare services and pharmacy benefits management (PBM). The company's adjusted earnings per share for the quarter were $7.78, exceeding analyst expectations of $7.60. Cigna now expects 2026 adjusted profit of at least $30.45 per share—up from previous forecasts and slightly above analysts' average estimate of $30.41.
Tickers: $CI
Topics: healthcare insurance pharmaceuticals