Jun 2026 (Q2 FY26) — Jul 30, 2026
The Cigna Group Q2 FY26 — Strong Performance and Raised Full-Year EPS Outlook
Read the full callCigna Group (CI) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Cigna Group earnings: last reported Thu, 30 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 71,668 | +6.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 3.7 | +0.3 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 1,660 | +8.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
23 of 30 judged targets kept · 38 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Q2 Medical Care Ratio | slightly above the high end of the full year range | Mar 2026 | The medical care ratio for the second quarter was 84.5%, slightly ahead of expectations. | Achieved |
| Cigna Healthcare adjusted earnings | at least $4.5 billion | Dec 2025 | Within Cigna Healthcare, we are raising our full year pretax adjusted earnings outlook to at least $4.55 billion | Revised Up |
| Book of business transitioned to new rebate-free model | at least 50% | Sep 2025 | The team is making strong progress in the build-out of our Signature Pharmacy benefits model. We see significant early interest from health plans and employers as we prepare for our broader market launch in 2028. | On Track |
7 of Cigna Group's 68 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 65 more targets are in the full ledger.
Claimed
- Adjusted EPS of $7.78, ahead of expectations, leading to an increased full-year outlook to at least $30.45.
- Evernorth's Specialty & Care Services pretax adjusted earnings grew 22% year-over-year to $1.1 billion, exceeding expectations.
- Cigna Healthcare delivered pretax adjusted earnings growth of 17%, ahead of expectations, driven by strong U.S. employer business performance.
- Strong 2027 PBM selling season with new business already secured exceeding the prior two selling seasons combined.
- Specialty generic penetration exceeded 80% for newer products, driving affordability and contributing favorably to earnings.
Qualified
- Evernorth's Pharmacy Benefit Services pretax adjusted earnings were down year-over-year to $609 million, reflecting large client contract renewals and investments in the Signature model.
- Moderating GLP-1 growth as coverage levels slightly declined and utilization growth slowed, impacting Pharmacy Benefit Services.
- Medical cost trends remain elevated at high single-digit levels, despite some favorability in outpatient trends.
- The IDR mechanism is experiencing unsustainable volume levels and favoring providers, exacerbating affordability challenges for employers, with $15 billion in healthcare spending processed through IDR in 2025.
Price
$298.5 −1.26% · −$3.8
Performance −0.3% 1Y
1Y: $299.27 on 17 Oct 2025 → $298.5. High $309.18 (27 Oct 2025), low $244.41 (31 Oct 2025).
- Previous close
- $302.3
- 52-week range
- $244.41 – $309.18
- One year
- −2.72%
Overview
- Symbol
- CI
- Sector
- Health Care
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
23 of 30 judged targets kept · 38 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Q2 Medical Care Ratio | slightly above the high end of the full year range | Mar 2026 | The medical care ratio for the second quarter was 84.5%, slightly ahead of expectations. | Achieved |
| Cigna Healthcare adjusted earnings | at least $4.5 billion | Dec 2025 | Within Cigna Healthcare, we are raising our full year pretax adjusted earnings outlook to at least $4.55 billion | Revised Up |
| Book of business transitioned to new rebate-free model | at least 50% | Sep 2025 | The team is making strong progress in the build-out of our Signature Pharmacy benefits model. We see significant early interest from health plans and employers as we prepare for our broader market launch in 2028. | On Track |
Claimed
- Adjusted EPS of $7.78, ahead of expectations, leading to an increased full-year outlook to at least $30.45.
- Evernorth's Specialty & Care Services pretax adjusted earnings grew 22% year-over-year to $1.1 billion, exceeding expectations.
- Cigna Healthcare delivered pretax adjusted earnings growth of 17%, ahead of expectations, driven by strong U.S. employer business performance.
- Strong 2027 PBM selling season with new business already secured exceeding the prior two selling seasons combined.
- Specialty generic penetration exceeded 80% for newer products, driving affordability and contributing favorably to earnings.
Qualified
- Evernorth's Pharmacy Benefit Services pretax adjusted earnings were down year-over-year to $609 million, reflecting large client contract renewals and investments in the Signature model.
- Moderating GLP-1 growth as coverage levels slightly declined and utilization growth slowed, impacting Pharmacy Benefit Services.
- Medical cost trends remain elevated at high single-digit levels, despite some favorability in outpatient trends.
- The IDR mechanism is experiencing unsustainable volume levels and favoring providers, exacerbating affordability challenges for employers, with $15 billion in healthcare spending processed through IDR in 2025.
The full ledger
Open Cigna Group’s full ledger
A free account opens 5 company ledgers a month. All 68 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 30, 2026
The Cigna Group Q1 FY26 — Beat-and-raise on Cordani's final call as CEO ahead of July handoff
Read the full callDec 2025 (Q4 FY25) — Feb 5, 2026
The Cigna Group Q4 FY25 — Strong Performance and Strategic PBM Transformation
Read the full callEvery analysed call
Cigna Group earnings calls (CI)
Financials
What the filings say
Net profit, year on year: +8% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 63,694 | 65,649 | 65,502 | 67,178 | 69,748 | 72,472 | 68,494 | 71,668 |
| Operating profit | 2,576 | 2,173 | 1,971 | 2,306 | 2,578 | 2,345 | 2,358 | 2,676 |
| Operating margin | 4.0% | 3.3% | 3.0% | 3.4% | 3.7% | 3.2% | 3.4% | 3.7% |
| Profit before tax | 1,192 | 2,009 | 1,648 | 2,021 | 2,295 | 1,817 | 2,270 | 2,257 |
| Tax rate | 30.8% | 23.5% | 14.5% | 19.3% | 14.0% | 29.9% | 18.0% | 16.9% |
| Net profit | — | — | 1,323 | 1,532 | — | — | 1,654 | 1,660 |
| EPS ($ per share) | 2.65 | — | 4.88 | 5.76 | 7.02 | — | 6.30 | 6.31 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Reserves | 15,088 | 20,162 | 28,575 | 32,593 | 37,940 | 41,652 | 43,519 | 47,865 |
| Total liabilities | 112,154 | 110,395 | 105,065 | 107,705 | 99,131 | 106,410 | 114,638 | 116,045 |
| Fixed assets | 4,562 | 4,417 | 4,205 | 3,692 | 3,774 | 3,695 | 3,654 | 3,651 |
| Investments | 2,045 | 937 | 1,331 | 920 | 905 | 925 | 665 | 1,056 |
| Total assets | 153,226 | 155,774 | 155,451 | 154,889 | 143,885 | 152,761 | 155,881 | 157,919 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 3,770 | 9,485 | 10,350 | 7,191 | 8,656 | 11,813 | 10,363 | 9,601 |
| Cash from investing | -26,378 | -734 | 2,976 | -3,611 | 3,098 | -5,174 | -2,102 | -4,407 |
| Cash from financing | 23,515 | -7,187 | -8,533 | -8,212 | -11,240 | -4,294 | -7,647 | -6,421 |
| Net cash flow | 883 | 1,556 | 4,834 | -4,697 | 428 | 2,361 | 594 | -1,195 |
| Capital expenditure | -528 | -1,050 | — | — | — | — | — | — |
| Free cash flow | 3,242 | 8,435 | — | — | — | — | — | — |
CI revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Evernorth | 82% | 82% | 82% | 86% | 87% | 87% | 85% | 86% | +6.3% |
| Cigna Healthcare | 21% | 20% | 22% | 16% | 16% | 15% | 17% | 17% | +9.6% |
| All Other Segments | <1% | — | <1% | <1% | <1% | <1% | <1% | <1% | -28.8% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
CI operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Sep 2025 Q3 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|
| Medical care ratio Cigna Healthcare | 82.2%The medical care ratio for the first quarter was 82.2%.Source: earnings call transcript | 84.8%Our overall Cigna Healthcare segment-wide medical care ratio was 84.8% for the quarter, driven by an updated view of risk adjustment in our individual exchange business.Source: earnings call transcript | 79.8%The medical care ratio for the first quarter was 79.8%.Source: earnings call transcript | 84.5%The medical care ratio for the second quarter was 84.5%, slightly ahead of expectations.Source: earnings call transcript | +4.7 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
65 filings between Nov 3, 2025 and Sep 3, 2026.
Open market
decisions to buy or sellPurchases
$999.9K
1 purchase by 1 insider
Sales
$66.84M
19 sales by 4 insiders
95% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 24
- Award — granted as compensation
- 7
- Option exercise — converted options into shares
- 14
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Cordani David | $999.9K | $59.11M | May 12, 2026 |
| Jones Nicole S | — | $6.78M | Aug 18, 2026 |
| Neville Everett | — | $671.9K | Sep 3, 2026 |
| Kates Jamie G | — | $268.5K | Jun 12, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 3, 2026 | Neville Everett See Remarks | Sale 10b5-1 plan | 617 | $175.3K |
| Sep 1, 2026 | Evanko Brian C See Remarks | Award | 3,113 | $0 |
| Aug 18, 2026 | Jones Nicole S See Remarks | Sale 10b5-1 plan | 2,677 | $748.5K |
| Aug 5, 2026 | Jones Nicole S See Remarks | Option exercise 10b5-1 plan | 1,301 | $249.8K |
| Aug 4, 2026 | Jones Nicole S See Remarks | Sale 10b5-1 plan | 19,436 | $5.37M |
| Aug 4, 2026 | Jones Nicole S See Remarks | Option exercise 10b5-1 plan | 14,045 | $2.70M |
| Jun 12, 2026 | Kates Jamie G Chief Accounting Officer | Sale | 899 | $268.5K |
| Jun 12, 2026 | Kates Jamie G Chief Accounting Officer | Option exercise | 899 | $137.5K |
| Jun 1, 2026 | Koka Durga Prasad EVP, Global CIO | Tax withheld | 729 | $200.9K |
| May 13, 2026 | Cordani David Chairman & CEO | Option exercise 10b5-1 plan | 7,971 | $1.57M |
| May 13, 2026 | Cordani David Chairman & CEO | Option exercise 10b5-1 plan | 15,458 | $2.31M |
| May 12, 2026 | Cordani David Chairman & CEO | Sale 10b5-1 plan | 13,732 | $4.00M |
| May 12, 2026 | Cordani David Chairman & CEO | Sale 10b5-1 plan | 13,839 | $4.00M |
| May 12, 2026 | Cordani David Chairman & CEO | Sale 10b5-1 plan | 12,315 | $3.60M |
| May 12, 2026 | Cordani David Chairman & CEO | Option exercise 10b5-1 plan | 103,595 | $15.45M |
| May 12, 2026 | Cordani David Chairman & CEO | Sale 10b5-1 plan | 34,641 | $10.25M |
| May 12, 2026 | Cordani David Chairman & CEO | Sale 10b5-1 plan | 2,231 | $666.0K |
| May 12, 2026 | Cordani David Chairman & CEO | Sale 10b5-1 plan | 41,099 | $11.92M |
| May 12, 2026 | Cordani David Chairman & CEO | Sale 10b5-1 plan | 2,017 | $598.7K |
| May 12, 2026 | Cordani David Chairman & CEO | Sale 10b5-1 plan | 3,903 | $1.12M |
| May 12, 2026 | Cordani David Chairman & CEO | Sale 10b5-1 plan | 38,487 | $11.35M |
| May 12, 2026 | Cordani David Chairman & CEO | Sale 10b5-1 plan | 14,292 | $4.12M |
| May 12, 2026 | Cordani David Chairman & CEO | Sale 10b5-1 plan | 15,319 | $4.57M |
| May 12, 2026 | Cordani David Chairman & CEO | Sale 10b5-1 plan | 2,142 | $629.6K |
| May 12, 2026 | Cordani David Chairman & CEO | Sale 10b5-1 plan | 7,861 | $2.30M |
| May 12, 2026 | Cordani David Chairman & CEO | Option exercise 10b5-1 plan | 85,519 | $16.88M |
| Apr 22, 2026 | Ross Kimberly A. Director | Award | 782 | $0 |
| Apr 22, 2026 | Hennigan Michael J Director | Award | 782 | $0 |
| Apr 22, 2026 | Ozuah Philip Director | Award | 782 | $0 |
| Apr 22, 2026 | Kurian George Director | Award | 782 | $0 |
| Apr 22, 2026 | FOSS ERIC J Director | Award | 782 | $0 |
| Apr 22, 2026 | WISEMAN ERIC C Director | Award | 782 | $0 |
| Apr 22, 2026 | McClellan Mark B. Director | Award | 782 | $0 |
| Apr 22, 2026 | MAZZARELLA KATHLEEN M Director | Award | 782 | $0 |
| Apr 22, 2026 | Hathi Neesha Director | Award | 782 | $0 |
| Apr 22, 2026 | ZARCONE DONNA F Director | Award | 782 | $0 |
| Mar 2, 2026 | Jones Nicole S See Remarks | Sale 10b5-1 plan | 2,307 | $666.5K |
| Mar 2, 2026 | Neville Everett See Remarks | Sale 10b5-1 plan | 1,719 | $496.6K |
| Feb 27, 2026 | Neville Everett See Remarks | Award 10b5-1 plan | 2,602 | $0 |
| Feb 27, 2026 | Jones Nicole S See Remarks | Tax withheld 10b5-1 plan | 912 | $262.2K |
| Feb 27, 2026 | Jones Nicole S See Remarks | Award 10b5-1 plan | 5,234 | $0 |
| Feb 27, 2026 | Jones Nicole S See Remarks | Award 10b5-1 plan | 4,133 | $0 |
| Feb 27, 2026 | Evanko Brian C See Remarks | Tax withheld | 1,788 | $514.1K |
| Feb 27, 2026 | Evanko Brian C See Remarks | Tax withheld | 2,979 | $856.6K |
| Feb 27, 2026 | Evanko Brian C See Remarks | Award | 9,787 | $0 |
| Feb 27, 2026 | Jones Nicole S See Remarks | Tax withheld 10b5-1 plan | 1,826 | $525.1K |
| Feb 27, 2026 | Evanko Brian C See Remarks | Award | 6,428 | $0 |
| Feb 27, 2026 | DENNISON ANN M EVP, CFO | Tax withheld | 409 | $117.6K |
| Feb 27, 2026 | DENNISON ANN M EVP, CFO | Award | 5,234 | $0 |
| Feb 27, 2026 | Cordani David Chairman & CEO | Tax withheld | 4,408 | $1.27M |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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