The Cigna Group (CI) reported net income of $1.4 billion in the third quarter of 2026 ($1,442 million), versus $1.9 billion ($1,868 million) in 3Q25. Earnings per share (EPS) were $5.47, versus $6.98 a year earlier. The company attributes the decline mainly to the absence of an after-tax gain from a business sale, recognized in 3Q25.
Total revenue came to $73.7 billion ($73,683 million), up 6% from 3Q25, with growth in the Evernorth Health Services and Cigna Healthcare divisions.
Adjusted operating income (non-GAAP, excludes items the company considers non-recurring) was $2.1 billion ($2,104 million), flat versus 3Q25. Adjusted earnings per share came in at $7.98, versus $7.83. At Evernorth, adjusted pre-tax operating income fell 4% to $1.8 billion, with a 22% decline in Pharmacy Benefit Services due to renewals of large client contracts and strategic investments. At Cigna Healthcare, the same metric rose 15% to $1.2 billion, with the medical care ratio at 85.0%, versus 84.8% in 3Q25. The debt-to-capitalization ratio was 41.8% on September 30, 2026. This year, through November 4, the company repurchased 1.8 million shares for about $500 million.
Cigna raised its 2026 adjusted operating earnings per share guidance to at least $30.60, up $0.15 from the previous guidance. For Cigna Healthcare, the adjusted pre-tax operating income target is at least $4.6 billion, $50 million above the previous guidance. For Evernorth, it is at least $6.9 billion. The expected medical care ratio is 84.2%, with a margin of 25 basis points in either direction.
The company also held its Investor Day, with targets through 2030 of 10% to 14% compound annual growth in adjusted EPS and about $50 billion in cumulative operating cash flow. It also announced the "Accelerate to One" program, a multi-year, $3 billion modernization and productivity initiative.
