CIGNA Corporation Earnings: Beats the Street on Profit Rise

S&P 500 (NYSE:SPY) component CIGNA Corporation (NYSE:CI) reported net income above Wall Street’s expectations for the second quarter. Cigna Corporation’s subsidiaries provide health care and related benefits, including health care products and services, group disability, life and accident insurance.

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CIGNA Earnings Cheat Sheet for the Second Quarter

Results: Net income for CIGNA Corporation rose to $408 million ($1.50 per share) vs. $294 million ($1.06 per share) in the same quarter a year earlier. This marks a rise of 38.8% from the year earlier quarter.

Revenue: Rose 2.7% to $5.5 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: CI reported adjusted net income of $1.53 per share. By that measure, the company beat the mean estimate of $1.29 per share. It beat the average revenue estimate of $5.32 billion.

Quoting Management: “Our second quarter results are strong and driven by our continued focus on growing in targeted geographies and customer segments through our diversified, global portfolio of businesses,” said David M. Cordani, President and Chief Executive Officer of CIGNA Corporation.”We are confident we will continue to leverage our differentiated portfolio of solutions to deliver long-term value and sustainable growth for our customers and shareholders in this very dynamic marketplace.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 51.6% and in the fourth quarter of the last fiscal year, the figure rose 39.7%.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 28 cents in the first quarter, by 14 cents in the fourth quarter of the last fiscal year, and by 4 cents in the third quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased 4% to $5.41 billion in the first quarter. The figure rose 17.1% in the fourth quarter of the last fiscal year from the year earlier and climbed 16.6% in the third quarter of the last fiscal year from the year-ago quarter.

Competitors to Watch: Humana Inc. (NYSE:HUM), WellPoint, Inc. (NYSE:WLP), Aetna Inc. (NYSE:AET), UnitedHealth Group Inc. (NYSE:UNH), Health Net, Inc. (NYSE:HNT), Universal American Corp. (NYSE:UAM), HealthSpring, Inc (NYSE:HS), Molina Healthcare, Inc. (NYSE:MOH), Coventry Health Care, Inc. (NYSE:CVH), and WellCare Health Plans, Inc. (NYSE:WCG).

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(Source: Xignite Financials)

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