The Cigna Group (CI) Q3 2026 earnings summary

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.