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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
The Cigna Group
The Cigna Group (CI) investor relations material
The Cigna Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 adjusted revenue was $73.793B, up 6% YoY; adjusted income from operations was $2.104B and adjusted EPS was $7.98, up 2%.
GAAP shareholders’ net income was $1.442B, down 23% YoY, primarily reflecting the absence of the prior-year business-sale gain and lower net investment performance.
FY26 adjusted EPS guidance rose $0.15 to at least $30.60; long-term adjusted EPS growth expectations are 10%-14%.
Financial highlights
Q3 operating cash flow was $2.6B; YTD operating cash flow was $3.281B versus $3.452B, partly reflecting Inflation Reduction Act cash-flow effects and lower insurance liabilities.
YTD revenue increased 6% to $213.8B and adjusted diluted EPS rose 8% to $23.55.
Adjusted SG&A expense ratio was 4.7%, up 10 bps YoY, reflecting growth investments partly offset by efficiencies.
Outlook and guidance
FY26 adjusted EPS outlook increased to at least $30.60; Evernorth pre-tax adjusted income guidance is at least $6.9B and Cigna Healthcare guidance is at least $4.6B.
FY26 MCR midpoint is 84.2%, with guidance tightened to ±25 bps.
FY27 adjusted EPS growth is expected to be at least 10% from the ongoing-business run-rate baseline; long-term targets include 10%-14% adjusted EPS CAGR and ~$50B cumulative operating cash flow through 2030.
FY27 Evernorth earnings are expected to grow low single digits; Cigna Healthcare income from operations is expected to grow 6%-9%. Specialty and Care Services growth is expected near the low end of its 8%-12% long-term range.
The 2030 adjusted EPS target remains at least $45.
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Latest events from The Cigna Group
- Q4 adjusted income rose 30% YoY; FY24 adjusted EPS guidance is at least $28.25.CI
Q4 2023 - Complex-care and AI-led growth targets 10%-14% EPS CAGR through 2030, with a $45 floor.CIInvestor Day 2026
- Q2 2026 revenues rose 7% to $71.7B, adjusted EPS $7.78, and full-year EPS outlook raised to $30.45.CIQ2 2026
- Specialty drug innovation and biosimilars drive rapid growth and cost savings in healthcare.CIBernstein Healthcare 1:1 Forum 2024
- Rebate-free PBM model scales by 2028; specialty and AI drive growth and efficiency.CIBank of America Global Healthcare Conference 2026
- Q1 2026 saw higher revenues, profits, and a raised outlook, driven by strong segment results.CIQ1 2026
- Q2 2025 revenue up 11% to $67.2B, adjusted EPS $7.20, and EPS guidance reaffirmed at $29.60+.CIQ2 2025
- Q3 2024 revenue up 30% to $63.7B, EPS up 11%, net income down on VillageMD loss.CIQ3 2024
- 2024 revenue up 27% to $247.1B; 2025 outlook strong with higher EPS and capital returns.CIQ4 2024
Next The Cigna Group earnings date
Q4 20264 Feb, 2027
The Cigna Group
Next The Cigna Group earnings date
Q4 20264 Feb, 2027
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Frequently asked questions
A provider of healthcare services to individuals and organizations
Cigna is a global health services company that provides a range of healthcare solutions to individuals and organizations around the world.
The company operates through two main business segments:
Health Services: This segment includes the company's insurance operations, which offer a range of health and wellness products to individuals and employers.
Integrated Medical: This segment includes the company's clinical operations, which provide a range of medical services, including primary care, behavioral health, and pharmacy services.
The business model
Cigna's business model is based on providing innovative and personalized healthcare solutions to its customers. The company offers a range of insurance products, including medical, dental, vision, and disability insurance, as well as wellness and health management programs. In addition, Cigna's clinical operations provide a range of medical services to its customers, including primary care, behavioral health, and pharmacy services.
How Cigna makes money
Cigna generates revenue through a range of sources, including insurance premiums, fees for services, and investments. The company's insurance operations generate the majority of its revenue, with premiums and fees for services accounting for the bulk of its income. In addition, Cigna's investments in various businesses and ventures also generate a significant amount of revenue.
Interesting facts about Cigna
Interesting facts about Cigna include that it was founded in 1792 as the Insurance Company of North America (INA), making it one of the oldest insurance companies in the United States. The company has also been recognized for its commitment to social responsibility and sustainability, with a focus on promoting health and wellness in the communities where it operates. Three competitors of Cigna in the healthcare industry include UnitedHealth Group, Humana, and CVS Health.