Sector: Healthcare|Industry: Healthcare Plans|Market Cap: $78.55B|Employees: 72.5K
The Cigna Group is a global health company committed to creating a better future built on the vitality of every individual and every community. They offer a differentiated set of pharmacy, medical, behavioral, dental and related products and services, primarily through employers and other groups. The company has a significant presence in the U.S. and international markets, with a focus on improving health outcomes and affordability.
Total revenues increased by 23% year-over-year, reaching $57.255 billion, primarily driven by a 31% increase in pharmacy revenues, but the company reported a net loss of $277 million due to a significant net realized investment loss.
Gross profit increased by 8% year-over-year to $2.388 billion, but this growth was offset by a 32% increase in pharmacy and other service costs and a 4% increase in medical costs and other benefit expenses, indicating margin pressure.
Income from operations increased by 12% year-over-year to $2.256 billion, but net realized investment losses of $1.836 billion significantly impacted overall profitability, leading to a net loss.