Cigna rises after beating Wall Street estimates, bucking insurance slump
Cigna rose in premarket trading after it reported earnings that beat Wall Street expectations, with higher-than-expected revenues accompanied by strong cost control.
The company reported adjusted earnings per share of $7.20, more than the $7.16 analysts polled by FactSet were expecting. The insurer also kept its 2025 profit outlook intact, bucking a trend in the US health insurance industry this earnings season as several of its peers have cut their forecasts.
The report comes as the insurance industry has hit a rut. Many insurers, particularly those with higher exposure to government-sponsored plans, have all reported results that have missed the Street’s expectations amid rising medical costs.
Cigna’s business, meanwhile, focuses on private employers. It also reported $67.2 billion in revenue, crushing expectations from analysts for $62.6 billion, and actually spent less on medical costs than the Street anticipated.
Cigna rose more than 4% in premarket trading. It’s up more than 8% for the year.
