Cigna Reports Strong Fourth Quarter and Full Year 2022 Results, Establishes 2023 Guidance and Increases Dividend
Cigna Corporation (NYSE: CI) reported a strong financial performance for 2022, with total revenues of $180.5 billion and shareholders' net income increasing 24% to $6.7 billion or $21.30 per share. Adjusted income from operations rose to $7.3 billion or $23.27 per share. The board announced a 10% increase in the quarterly dividend to $1.23 per share, payable on March 23, 2023. For 2023, Cigna projects adjusted income from operations to reach at least $7.33 billion or $24.60 per share. Customer growth also showed positive trends, with a 5% increase in medical customers compared to 2021.
- Total revenues for 2022 of $180.5 billion.
- Shareholders' net income increased 24% to $6.7 billion.
- Adjusted income from operations rose to $7.3 billion.
- 10% increase in quarterly dividend to $1.23 per share.
- Projected adjusted income from operations for 2023 of at least $7.33 billion.
- Total pharmacy customer base decreased by 2% to 105.6 million due to client attrition.
- Total revenues for 2022 were
$180.5 billion - Shareholders' net income for 2022 was
$6.7 billion $21.30 - Adjusted income from operations1 for 2022 was
$7.3 billion $23.27 - Adjusted income from operations1,2 is projected to be at least
$7.33 billion $24.60 - Board of Directors declared a
10% increase in the quarterly dividend rate, to$1.23
"We are carrying great momentum into 2023," said
Shareholders' net income for 2022 was
Cigna's adjusted income from operations1 for 2022 was
Reconciliations of total revenues to adjusted revenues5 and of shareholders' net income to adjusted income from operations1 are provided on the following page and on Exhibit 1 of this earnings release.
CONSOLIDATED HIGHLIGHTS
The following table includes highlights of results and reconciliations of total revenues to adjusted revenues5 and shareholders' net income to adjusted income from operations1:
Consolidated Financial Results (dollars in millions): | ||||
Three Months Ended | Year Ended | |||
2022 | 2021 | 2022 | 2021 | |
Total Revenues | $ 45,751 | $ 45,688 | $ 180,516 | $ 174,078 |
Net Realized Investment Losses (Gains) from | (8) | (12) | 126 | — |
Adjusted Revenues5 | $ 45,743 | $ 45,676 | $ 180,642 | $ 174,078 |
Consolidated Earnings, net of taxes | ||||
Shareholders' Net Income | $ 1,169 | $ 1,116 | $ 6,668 | $ 5,365 |
Net Realized Investment Losses (Gains)1 | (12) | (59) | 503 | (158) |
Amortization of Acquired Intangible Assets1 | 284 | 326 | 1,345 | 1,494 |
Special Items1 | 73 | 189 | (1,232) | 279 |
Adjusted Income from Operations1 | $ 1,514 | $ 1,572 | $ 7,284 | $ 6,980 |
Shareholders' Net Income, per share | $ 3.83 | $ 3.39 | $ 21.30 | $ 15.73 |
Adjusted Income from Operations1, per share | $ 4.96 | $ 4.77 | $ 23.27 | $ 20.47 |
- The full year 2022 Shareholders' Net Income increased
24% from full year 2021, reflecting the gain on the Chubb transaction3 as well as continued growth fromEvernorth and Cigna Healthcare . Adjusted income from operations1 for full year 2022 increased4% from full year 2021 with contributions from bothEvernorth and Cigna Healthcare . Excluding the divested businesses3,4,6, adjusted income from operations1 increased9% for full year 2022 compared to full year 2021. - The SG&A expense ratio7 on a GAAP basis was
7.3% for full year 2022 compared to7.5% for full year 2021. The adjusted SG&A expense ratio7 was7.2% for full year 2022 compared to7.3% for full year 2021 as revenue growth and continued expense efficiencies were partially offset by strategic investments. - The effective tax rate on a GAAP basis for full year 2022 was
19.2% compared to20.2% full year 2021. The adjusted effective tax rate8 for full year 2022 was21.1% compared to22.2% for full year 2021. - The debt-to-capitalization ratio decreased to
40.9% atDecember 31, 2022 compared to41.7% atDecember 31, 2021 . - In 2022, the Company repurchased 27.4 million shares of common stock for
$7.6 billion February 2, 2023 , the Company repurchased 1.6 million shares of common stock for approximately$510 million - On
February 2, 2023 , the Company's Board of Directors declared a cash dividend of$1.23 March 23, 2023 to shareholders of record as of the close of trading onMarch 8, 2023 . This reflects a10% increase from the 2022 cash dividend of$1.12
CUSTOMER RELATIONSHIPS
The following table summarizes Cigna's medical customers and overall customer relationships:
Customer Relationships (in thousands): | ||
As of the Periods Ended | ||
2022 | 2021 | |
Total Customer Relationships9 | 189,683 | 185,672 |
Total Pharmacy Customers | 105,567 | 107,298 |
14,852 | 13,854 | |
1,354 | 1,510 | |
1,798 | 1,717 | |
Total Medical Customers9 | 18,004 | 17,081 |
Behavioral Care | 44,841 | 40,380 |
Dental | 18,397 | 17,731 |
Medicare Part D | 2,874 | 3,182 |
- Total customer relationships9 at the end of 2022 grew by
2% to 189.7 million. - Total pharmacy customer base in 2022 decreased by
2% to 105.6 million due to client attrition in early 2022. - The total medical customer base9 at the end of 2022 grew
5% to 18.0 million, an increase of 923,000 customers fromDecember 31, 2021 , primarily driven by growth inU.S. Commercial, partially offset by a decrease inU.S. Government inclusive of the divestiture of the Medicaid4 business.
HIGHLIGHTS OF SEGMENT RESULTS
See Exhibit 1 for a reconciliation of adjusted income (loss) from operations1 to shareholders' net income.
Evernorth
This segment includes a broad range of coordinated and point solution health services and capabilities, and partners with the health care system to provide Pharmacy Benefits,
Financial Results (dollars in millions): | ||||
Three Months Ended | Year Ended | |||
2022 | 2021 | 2022 | 2021 | |
Adjusted Revenues5 | $ 36,188 | $ 35,086 | $ 140,335 | $ 131,912 |
Adjusted Income from Operations, Pre-Tax1 | $ 1,725 | $ 1,634 | $ 6,127 | $ 5,818 |
Adjusted Margin, Pre-Tax10 | 4.8 % | 4.7 % | 4.4 % | 4.4 % |
- Fourth quarter 2022 adjusted revenues5 increased
3% relative to fourth quarter 2021 reflecting strong organic growth in specialty pharmacy services. - Fourth quarter 2022 adjusted income from operations, pre-tax1, increased
6% relative to fourth quarter 2021 reflecting business growth including affordability improvements partially offset by strategic investments in expanding our services portfolio and digital capabilities.
This segment includes
Financial Results (dollars in millions): | ||||
Three Months Ended | Year Ended | |||
2022 | 2021 | 2022 | 2021 | |
Adjusted Revenues5,11 | $ 11,131 | $ 11,214 | $ 45,036 | $ 44,652 |
Adjusted Income from Operations, Pre-Tax1 | $ 500 | $ 472 | $ 4,072 | $ 3,609 |
Adjusted Margin, Pre-Tax10 | 4.5 % | 4.2 % | 9.0 % | 8.1 % |
- Fourth quarter 2022 adjusted revenues5,11 decreased
1% compared with fourth quarter 2021. Excluding the divested Medicaid business4,6, fourth quarter 2022 adjusted revenues5,11 grew1% . This growth reflects increased specialty contributions, premium increases to cover underlying cost trends andU.S. Commercial and International Health customer growth, partially offset by lowerU.S. Government medical customers and lower net investment income. - Fourth quarter 2022 adjusted income from operations, pre-tax1 increased
6% relative to fourth quarter 2021, due to a lower MCR7, inclusive of effective execution of pricing and affordability initiatives, partially offset by lower net investment income. - The Cigna Healthcare MCR7 of
84.0% for fourth quarter 2022 compares to87.0% for fourth quarter 2021, reflecting lower direct COVID-19 costs and improved stop-loss results. The fourth quarter 2022 MCR7 also benefited from effective execution in pricing and affordability initiatives. - The Cigna Healthcare MCR7 of
81.7% for full year 2022 compares to84.0% for full year 2021, reflecting lower direct COVID-19 costs. The full year 2022 MCR7 also benefited from effective execution in pricing and affordability initiatives in ourU.S. Commercial business partially offset byU.S. Government risk adjustment updates related to prior years. Cigna Healthcare net medical costs payable12 was$3.96 billion December 31, 2022 ,$4.05 billion September 30, 2022 , and$4.00 billion December 31, 2021 . Favorable prior year reserve development on a gross pre-tax basis was$259 million $219 million
Corporate and Other Operations
Corporate reflects interest expense, as well as amounts not allocated to operating segments and includes intersegment eliminations. Additionally, this discussion includes items reported in Other Operations which is comprised of
Financial Results (dollars in millions): | ||||
Three Months Ended | Year Ended | |||
2022 | 2021 | 2022 | 2021 | |
Adjusted (Loss) from Operations, Pre-Tax1 | $ (382) | $ (115) | $ (966) | $ (450) |
- Fourth quarter adjusted loss from operations, pre-tax1 of
$382 million
2023 OUTLOOK2,13
Cigna's outlook2,13 for full year 2023 adjusted revenues2,5 is projected to be at least
(dollars in millions, except where noted and per share amounts) | |
2023 Consolidated Metrics | Projection for Full Year Ending |
Adjusted Revenues2,5 | at least |
Adjusted Income from Operations1,2 | at least |
Adjusted Income from Operations, per share1,2 | at least |
Adjusted SG&A Expense Ratio2,7 | ~ |
Adjusted Effective Tax Rate2,8 | |
Cash Flow from Operations2 | at least |
Capital Expenditures2 | |
Shareholder Dividends2 | |
Weighted Average Shares Outstanding (millions)2 | 296 to 300 |
2023 Evernorth Metrics | |
Adjusted Income from Operations, Pre-Tax1,2 | at least |
2023 Cigna Healthcare Metrics | |
Adjusted Income from Operations, Pre-Tax1,2 | at least |
Medical Care Ratio2,7 | |
Total Medical Customer Growth (lives)2,9 | at least 1,200,000 |
The foregoing statements represent the Company's current estimates of Cigna's 2023 consolidated and segment adjusted income from operations1,2 and other key metrics as of the date of this release. Actual results may differ materially depending on a number of factors. Investors are urged to read the Cautionary Note Regarding Forward-Looking Statements included in this release. Management does not assume any obligation to update these estimates.
This quarterly earnings release and the Quarterly Financial Supplement are available on Cigna's website in the Investor Relations section (https://investors.cigna.com/home/default.aspx). Management will be hosting a conference call to review full year 2022 results and discuss full year 2023 outlook beginning today at
The call-in numbers for the conference call are as follows:
Live Call
(888) 455-5036 (Domestic)
(773) 799-3981 (International)
Passcode: 2032023
Replay
(800) 839-2290 (Domestic)
(203) 369-3607 (International)
It is strongly suggested you dial in to the conference call by
About Cigna
Cigna's global footprint spans approximately 30 countries and jurisdictions, and has approximately 190 million customer relationships throughout the world. To learn more about Cigna®, including links to follow us on Facebook or Twitter, visit www.cigna.com.
Notes: | |
1. | Adjusted income (loss) from operations is a principal financial measure of profitability used by Cigna's management because it presents the underlying results of operations of Cigna's businesses and permits analysis of trends in underlying revenue, expenses and shareholders' net income. Adjusted income from operations is defined as shareholders' net income (or income before income taxes less pre-tax income (loss) attributable to noncontrolling interests for the segment metric) excluding net realized investment results, amortization of acquired intangible assets and special items. Cigna's share of certain realized investment results of its joint ventures reported in the |
2. | Management is not able to provide a reconciliation of adjusted income from operations to shareholders' net income (loss) or adjusted revenues to total revenues on a forward-looking basis because it is unable to predict, without unreasonable effort, certain components thereof including (i) future net realized investment results (from equity method investments with respect to adjusted revenues) and (ii) future special items. These items are inherently uncertain and depend on various factors, many of which are beyond Cigna's control. As such, any associated estimate and its impact on shareholders' net income and total revenues could vary materially. |
The Company's outlook excludes the potential effects of any other business combinations that may occur after the date of this earnings release. The Company's outlook includes the potential effects of expected future share repurchases and anticipated 2023 dividends. | |
As announced in | |
The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternate uses of capital. The share repurchase program may be effected through open market purchases in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, including through Rule 10b5-1 trading plans, or privately negotiated transactions. The program may be suspended or discontinued at any time. | |
3. | On |
4. | On |
5. | Adjusted revenues is used by Cigna's management because it permits analysis of trends in underlying revenue. The Company defines adjusted revenues as total revenues excluding the following adjustments: special items and Cigna's share of certain realized investment results of its joint ventures reported in the |
6. | The divested international3 and Medicaid4 businesses had adjusted income from operations1, after-tax, of |
Consolidated Financial Results (dollars in millions): | ||||
Three Months Ended | Year Ended | |||
2022 | 2021 | 2022 | 2021 | |
Consolidated Earnings, net of taxes | ||||
Shareholder's Net Income | $ 1,169 | $ 1,116 | $ 6,668 | $ 5,365 |
(12) | (59) | 503 | (158) | |
Amortization of Acquired Intangible Assets1 | 284 | 326 | 1,345 | 1,494 |
Special Items1 | 73 | 189 | (1,232) | 279 |
Adjusted Income from Operations1 | $ 1,514 | $ 1,572 | $ 7,284 | $ 6,980 |
Less: Adjusted Income1 from Divested | 1 | 149 | 375 | 622 |
Adjusted Income from Operations1 | $ 1,513 | $ 1,423 | $ 6,909 | $ 6,358 |
The divested Medicaid4 business had adjusted revenues5 of |
Financial Results (dollars in millions): | ||||
Three Months Ended | Year Ended | |||
2022 | 2021 | 2022 | 2021 | |
Cigna Healthcare Adjusted Revenues5,11 | $ 11,131 | $ 11,214 | $ 45,036 | $ 44,652 |
Less: Adjusted Revenues5 from Divested | (2) | 225 | 85 | 976 |
Cigna Healthcare Adjusted Revenues5,11 | $ 11,133 | $ 10,989 | $ 44,951 | $ 43,676 |
7. | Operating ratios are defined as follows: | |
• | ||
• | SG&A expense ratio on a GAAP basis for the full year 2022 represents enterprise selling, general and administrative expenses of | |
• | Adjusted SG&A expense ratio for the full year 2022 represents enterprise selling, general and administrative expenses of | |
8. | The measure "adjusted effective tax rate" is not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP measure, "consolidated effective tax rate". We define adjusted effective tax rate as the consolidated income tax rate applicable to the Company's pre-tax income excluding pre-tax income (loss) attributable to noncontrolling interests, net realized investment results, amortization of acquired intangible assets, and special items. Cigna's share of certain realized investment results of its joint ventures reported in the | |
9. | Customer relationships are defined as follows: | |
• | Total medical customers includes individuals in the | |
• | Prior year lives include the Medicaid customers which were divested on | |
• | International Health medical customers excludes medical customers served by less than | |
• | Policies issued by the sold international life, accident, and supplemental benefits businesses3 and the joint venture in Türkiye3 have been excluded from customer relationships. | |
10. | Adjusted margin, pre-tax, is calculated by dividing adjusted income (loss) from operations, pre-tax by adjusted revenues for each segment. | |
11. | Cigna owns a | |
12. | Medical costs payable within the | |
13. | Cigna's outlook for full year 2023 includes the expected impacts of the FASB's new accounting for Long-Duration Insurance Contracts ("LDTI") that is required to be adopted on | |
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release, and oral statements made in connection with this release, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on Cigna's current expectations and projections about future trends, events and uncertainties. These statements are not historical facts. Forward-looking statements may include, among others, statements concerning our projected adjusted income from operations outlook for 2023 on a consolidated, per share, and segment basis; projected adjusted revenue outlook for 2023; projected total medical customer growth over year end 2022; projected medical care and adjusted SG&A expense ratios; projected consolidated adjusted effective tax rate; projected cash flow from operations; future dividends; projected weighted average shares outstanding; future financial or operating performance, including our ability to deliver affordable, predictable and simple solutions for our customers and clients; future growth, business strategy and strategic or operational initiatives; economic, regulatory or competitive environments, particularly with respect to the pace and extent of change in these areas and the impact of the developing inflationary and interest rate pressures; capital deployment plans and amounts available for future deployment; our prospects for growth in the coming years; the impact of revised accounting rules related to accounting for long-duration contracts; and other statements regarding Cigna's future beliefs, expectations, plans, intentions, liquidity, cash flows, financial condition or performance. You may identify forward-looking statements by the use of words such as "believe," "expect," "project," "plan," "intend," "anticipate," "estimate," "predict," "potential," "may," "should," "will" or other words or expressions of similar meaning, although not all forward-looking statements contain such terms.
Forward-looking statements are subject to risks and uncertainties, both known and unknown, that could cause actual results to differ materially from those expressed or implied in forward-looking statements. Such risks and uncertainties include, but are not limited to: our ability to achieve our strategic and operational initiatives; our ability to adapt to changes in an evolving and rapidly changing industry; our ability to compete effectively, differentiate our products and services from those of our competitors and maintain or increase market share; price competition, inflation and other pressures that could compress our margins or result in premiums that are insufficient to cover the cost of services delivered to our customers; the potential for actual claims to exceed our estimates related to expected medical claims; our ability to develop and maintain satisfactory relationships with physicians, hospitals, other health service providers and with producers and consultants; our ability to maintain relationships with one or more key pharmaceutical manufacturers or if payments made or discounts provided decline; changes in the pharmacy provider marketplace or pharmacy networks; changes in drug pricing or industry pricing benchmarks; political, legal, operational, regulatory, economic and other risks that could affect our multinational operations, including currency exchange rates; the scale, scope and duration of the COVID-19 pandemic and its potential impact on our business, operating results, cash flows or financial condition; risks related to strategic transactions and realization of the expected benefits of such transactions, as well as integration or separation difficulties or underperformance relative to expectations; dependence on success of relationships with third parties; risk of significant disruption within our operations or among key suppliers or third parties; our ability to invest in and properly maintain our information technology and other business systems; our ability to prevent or contain effects of a potential cyberattack or other privacy or data security incident; potential liability in connection with managing medical practices and operating pharmacies, onsite clinics and other types of medical facilities; the substantial level of government regulation over our business and the potential effects of new laws or regulations or changes in existing laws or regulations; uncertainties surrounding participation in government-sponsored programs such as Medicare; the outcome of litigation, regulatory audits and investigations; compliance with applicable privacy, security and data laws, regulations and standards; potential failure of our prevention, detection and control systems; unfavorable economic and market conditions including the risk of a recession or other economic downturn and resulting impact on employment metrics, stock market or changes in interest rates and risks related to a downgrade in financial strength ratings of our insurance subsidiaries; the impact of our significant indebtedness and the potential for further indebtedness in the future; unfavorable industry, economic or political conditions; credit risk related to our reinsurers; as well as more specific risks and uncertainties discussed in our most recent report on Form 10-K and subsequent reports on Forms 10-Q and 8-K available through the Investor Relations section of www.cigna.com. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made, are not guarantees of future performance or results, and are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. Cigna undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by law.
Exhibit 1 | |||||||||||
COMPARATIVE SUMMARY OF FINANCIAL RESULTS (unaudited) | |||||||||||
Three Months Ended | Years Ended | ||||||||||
(Dollars in millions, except per share amounts) | 2022 | 2021 | 2022 | 2021 | |||||||
REVENUES | |||||||||||
Pharmacy revenues | $ 33,135 | $ 32,328 | $ 128,566 | $ 121,413 | |||||||
Premiums | 9,547 | 10,342 | 39,915 | 41,154 | |||||||
Fees and other revenues | 2,857 | 2,638 | 10,880 | 9,962 | |||||||
Net investment income | 212 | 380 | 1,155 | 1,549 | |||||||
Total Revenues | 45,751 | 45,688 | 180,516 | 174,078 | |||||||
Net realized investment results from certain equity method investments | (8) | (12) | 126 | — | |||||||
Adjusted revenues (1) | $ 45,743 | $ 45,676 | $ 180,642 | $ 174,078 | |||||||
Shareholders' net income | $ 1,169 | $ 1,116 | $ 6,668 | $ 5,365 | |||||||
Pre-tax adjusted income (loss) from operations by segment | |||||||||||
Evernorth | $ 1,725 | $ 1,634 | $ 6,127 | $ 5,818 | |||||||
500 | 472 | 4,072 | 3,609 | ||||||||
Corporate and Other Operations | (382) | (115) | (966) | (450) | |||||||
Consolidated pre-tax adjusted income from operations | 1,843 | 1,991 | 9,233 | 8,977 | |||||||
Adjusted income tax expense | (329) | (419) | (1,949) | (1,997) | |||||||
Consolidated after-tax adjusted income from operations | $ 1,514 | $ 1,572 | $ 7,284 | $ 6,980 | |||||||
Weighted average shares (in thousands) | 305,413 | 329,641 | 313,065 | 340,966 | |||||||
Common shares outstanding (in thousands) | 298,676 | 322,948 | |||||||||
SHAREHOLDERS' EQUITY at | $ 44,872 | $ 47,112 | |||||||||
SHAREHOLDERS' EQUITY PER SHARE at | $ 150.24 | $ 145.88 | |||||||||
Three Months Ended | Years Ended | ||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||
(Dollars in millions, except per share amounts) | Pre-tax | After-tax | Pre-tax | After-tax | Pre-tax | After-tax | Pre-tax | After-tax | |||
SHAREHOLDERS' NET INCOME | |||||||||||
Shareholders' net income | $ 1,169 | $ 1,116 | $ 6,668 | $ 5,365 | |||||||
Adjustments to reconcile adjusted income from operations | |||||||||||
Net realized investment (gains) losses (2) | (8) | (12) | (80) | (59) | 621 | 503 | (196) | (158) | |||
Amortization of acquired intangible assets | 457 | 284 | 499 | 326 | 1,876 | 1,345 | 1,998 | 1,494 | |||
Special Items | |||||||||||
Integration and transaction-related costs | 23 | 17 | 111 | 70 | 135 | 103 | 169 | 71 | |||
Charge for organizational efficiency plan | — | — | 168 | 119 | 22 | 17 | 168 | 119 | |||
(Benefits) associated with litigation matters | — | — | — | — | (28) | (20) | (27) | (21) | |||
Loss (gain) on sale of businesses | 73 | 56 | — | — | (1,662) | (1,332) | — | — | |||
Debt extinguishment costs | — | — | — | — | — | — | 141 | 110 | |||
Adjusted income from operations (3) | $ 1,514 | $ 1,572 | $ 7,284 | $ 6,980 | |||||||
DILUTED EARNINGS PER SHARE | |||||||||||
Shareholders' net income | $ 3.83 | $ 3.39 | $ 21.30 | $ 15.73 | |||||||
Adjustments to reconcile to adjusted income from operations | |||||||||||
Net realized investment (gains) losses (2) | (0.03) | (0.04) | (0.24) | (0.18) | 1.98 | 1.61 | (0.57) | (0.46) | |||
Amortization of acquired intangible assets | 1.50 | 0.93 | 1.51 | 0.99 | 5.99 | 4.30 | 5.86 | 4.38 | |||
Special Items | |||||||||||
Integration and transaction-related costs | 0.08 | 0.06 | 0.34 | 0.21 | 0.43 | 0.33 | 0.50 | 0.21 | |||
Charge for organizational efficiency plan | — | — | 0.51 | 0.36 | 0.07 | 0.05 | 0.49 | 0.35 | |||
(Benefits) associated with litigation matters | — | — | — | — | (0.09) | (0.06) | (0.08) | (0.06) | |||
Loss (gain) on sale of businesses | 0.23 | 0.18 | — | — | (5.31) | (4.26) | — | — | |||
Debt extinguishment costs | — | — | — | — | — | — | 0.41 | 0.32 | |||
Adjusted income from operations (3) | $ 4.96 | $ 4.77 | $ 23.27 | $ 20.47 | |||||||
(1) Adjusted revenues is defined as total revenues excluding the following adjustments: special items and Cigna's share of certain realized investment results of its joint ventures reported in the |
(2) Includes the Company's share of certain realized investment results of its joint ventures reported in the |
(3) Adjusted income (loss) from operations is defined as shareholders' net income (or income before income taxes less pre-tax income (loss) attributable to noncontrolling interests for the segment metric) excluding the following adjustments: net realized investment results, amortization of acquired intangible assets and special items. Cigna's share of certain realized investment results of its joint ventures reported in the |
View original content to download multimedia:https://www.prnewswire.com/news-releases/cigna-reports-strong-fourth-quarter-and-full-year-2022-results-establishes-2023-guidance-and-increases-dividend-301737982.html
SOURCE Cigna
FAQ
What is Cigna's dividend payment date for 2023?
What is the projected adjusted income from operations for Cigna in 2023?
How much was Cigna's net income per share for 2022?
What was the total revenue for Cigna in 2022?
How many medical customers does Cigna have as of the end of 2022?
