The Cigna Group (CI) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenues rose 5% year-over-year to $68.5 billion, with adjusted EPS of $7.79, up 16%, and net income up 25% to $1.65 billion, driven by strong performance in Evernorth and Cigna Healthcare.

• Adjusted income from operations increased 12% to $2.06 billion, with diluted EPS at $6.26, and shareholders' net income at $1.7 billion.

• Raised full-year 2026 adjusted EPS outlook to at least $30.35, reflecting confidence in sustained growth.

• Announced leadership transition: Brian Evanko to become CEO on July 1, with David Cordani moving to Executive Chair.

• Proactive portfolio reshaping: exiting individual exchange business after 2026 and initiating strategic review of EviCore.

Financial highlights

• Q1 2026 revenues: $68.5 billion; adjusted EPS: $7.79, up 16% year-over-year; adjusted income from operations: $2.06 billion (+12%).

• Pharmacy revenues: $54.0 billion (+11%); fees/other revenues: $4.4 billion (+14%); premiums: $9.8 billion (–23% due to divestiture).

• Evernorth revenues grew 9% to $58.4 billion; pre-tax adjusted earnings up 2% to $1.5 billion.

• Specialty and Care Services pre-tax adjusted earnings up 20% to $1.1 billion; Pharmacy Benefit Services pre-tax adjusted earnings down 28% to $394 million.

• After-tax special items charges of $322 million ($1.22 per share) recorded in Q1; strategic optimization program costs totaled $380 million pre-tax.

Outlook and guidance

• Full-year 2026 adjusted EPS outlook raised to at least $30.35.

• Evernorth full-year 2026 adjusted income from operations expected at least $6.9 billion; Cigna Healthcare at least $4.525 billion.

• Cigna Healthcare Medical Care Ratio expected between 83.7% and 84.7% for 2026.

• Second quarter adjusted EPS expected to be ~25% of full-year outlook; MCR to be slightly above high end of full-year range due to seasonality.

• Management expects continued growth in Evernorth and improved margins in Cigna Healthcare, with ongoing investments in client-focused initiatives and cost management.