Cigna Shares Fall As FY22 Guidance Falls Short Of Consensus; Q4 Profit Of $1.1B

Cigna Corp CI reports Q4 total revenues of $45.68 billion, +9.6% Y/Y, ahead of the consensus of $43.88 billion.

• Cigna brought in $1.1 billion in earnings for the fourth quarter, down from $4.1 billion a year ago.
•  Q4 adjusted EPS reached $4.77 compared with $3.51 a year ago, beating the consensus of $4.71. 
• “We performed well in 2021 as we supported the growing needs of our clients, customers, and patients,” said David Cordani, chairman and CEO. “2022 will be a year of growth across our franchise as we continue innovating and advancing our work to make health care more affordable, predictable, and simple.”
• By the end of 2021, Cigna boasted 107.3 million pharmacy benefit customers, a gain of 8.4 million over the year. Medical membership reached 17.1 million, an increase of 431,000.
• At its Evernorth subsidiary, revenues were up 15% Y/Y in Q4, reaching $35.1 billion. 
• At its health plan, revenues were up 8% compared to the fourth quarter of 2020, reaching $11.2 billion. 
• Dividend: Cigna increased the quarterly dividend by 12% to $1.12 per share payable on March 24, with a record date of March 9.
• Guidance: For FY22, Cigna expects EPS of at least $22.40 (consensus of $22.49) and revenues of at least $177 billion.
• For FY22, the Company expects total Medical Customer Growth (lives) of at least 575,000.
• Price Action: CI shares are down 4.36% at $220.00 during the market session on the last check Thursday.