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Cigna (NYSE: CI) reiterates 2026 adjusted income outlook of at least $30.35 per share

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

The Cigna Group has reaffirmed its outlook for full year 2026, expecting consolidated adjusted income from operations on a per share basis of at least $30.35 per share. This confirmation will be communicated in upcoming meetings with investors and analysts.

The company explains that adjusted income from operations excludes net investment gains or losses, amortization of acquired intangible assets, certain joint venture investment results and special items that management does not view as part of normal, recurring operations. It emphasizes that this is a non-GAAP measure and not a substitute for shareholders’ net income, and notes that a reconciliation to GAAP cannot be provided on a forward-looking basis because future investment results and special items are inherently uncertain.

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Insights

Cigna reiterates a 2026 non-GAAP earnings target, signaling consistency but not new guidance.

The Cigna Group reiterates projected 2026 consolidated adjusted income from operations of at least $30.35 per share. Because this level was previously discussed, the update mainly confirms that management’s expectations have not changed as of the new disclosure.

The measure excludes net investment gains or losses, amortization of acquired intangibles, certain equity-method results and management-defined special items. It is presented as a key profitability metric, but it is non-GAAP and distinct from shareholders’ net income.

The reaffirmation is framed through standard forward-looking statement language, highlighting risks such as health care cost trends, competition, regulation, technology, strategic transactions and macroeconomic conditions. The actual 2026 outcome will depend on how these factors evolve relative to current assumptions.

Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
2026 adjusted income from operations (per share) at least $30.35 per share Projected full year 2026 consolidated adjusted income from operations
adjusted income from operations financial
"projected full year 2026 consolidated adjusted income from operations on a per share basis of at least $30.35 per share"
Adjusted income from operations is the profit a company earns from its core business activities after removing one-time, unusual, or non-cash items so the number shows the ongoing earning power of operations. Think of it as cleaning up a household budget by excluding a rare roof repair or a one-off gift to see what your normal monthly cash flow looks like. Investors use it to compare real operating performance across periods and companies, but the specific items removed can vary so details matter.
special items financial
"Special items are matters that management believes are not representative of the underlying results of normal, recurring operations"
Special items are unusual or infrequent gains or losses that a company reports separately from its regular operating profit, such as restructuring costs, asset write-downs, legal settlements, or one-time gains from selling a business. Investors pay attention because these items can make reported profits look better or worse than the company’s ongoing performance—like a homeowner’s one-off roof repair affecting a single month’s budget but not the household’s regular income and expenses.
forward-looking statements regulatory
"may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Private Securities Litigation Reform Act of 1995 regulatory
"forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995"
non-GAAP financial
"Consolidated adjusted income (loss) from operations is not determined in accordance with GAAP"
Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) May 13, 2026

The Cigna Group
(Exact name of registrant as specified in its charter)

Delaware
001-38769
82-4991898
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)

900 Cottage Grove Road
Bloomfield, Connecticut 06002
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (860) 226-6000

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, Par Value $0.01
CI
New York Stock Exchange, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 7.01
Regulation FD Disclosure.

2026 Outlook Affirmation

The Cigna Group (or “our”) officials expect to participate in meetings with investors and analysts over the next several weeks. During these meetings, The Cigna Group officials expect to reaffirm projected full year 2026 consolidated adjusted income from operations on a per share basis of at least $30.35 per share.

The Cigna Group previously discussed its full year 2026 outlook in its press release dated April 30, 2026, and during the related investor conference call. The press release and the conference call transcript are available in the Investor Relations section of The Cigna Group’s website located at www.thecignagroup.com. Forward-looking statements in these documents and the related call speak only as of the date they were made.

Adjusted income (loss) from operations is a principal financial measure of profitability used by The Cigna Group’s management because it presents the underlying results of operations of The Cigna Group’s businesses and facilitates analysis of trends in underlying revenue, expenses and shareholders’ net income. Adjusted income (loss) from operations is defined as shareholders’ net income (or income before income taxes less pre-tax income (loss) attributable to noncontrolling interests for the segment metric) excluding net investment gains/losses, amortization of acquired intangible assets and special items. The Cigna Group’s share of certain investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting are also excluded. Special items are matters that management believes are not representative of the underlying results of normal, recurring operations due to their nature or size. Adjusted income (loss) from operations is measured on an after-tax basis for consolidated results and on a pre-tax basis for segment results. Consolidated adjusted income (loss) from operations is not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP measure, shareholders’ net income.

Management is not able to provide a reconciliation of adjusted income from operations to shareholders’ net income on a forward-looking basis because it is unable to predict, without unreasonable effort, certain components thereof including (i) future net investment results and (ii) future special items. These items are inherently uncertain and depend on various factors, many of which are beyond The Cigna Group’s control. As such, any associated estimate and its impact on shareholders’ net income and total revenues could vary materially.

This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act whether made before or after the date of this report, except as shall be expressly set forth by specific reference in such a filing.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Current Report on Form 8-K (the “Report”), and oral statements made with respect to information contained in this Report, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on The Cigna Group's current expectations and projections about future trends, events and uncertainties. These statements are not historical facts. Forward-looking statements may include, among others, statements concerning our projected adjusted income from operations outlook for 2026 on a per share basis, and other statements regarding our future beliefs, expectations, plans, intentions, liquidity, cash flows, financial condition or performance. You may identify forward-looking statements by the use of words such as “believe,” “expect,” “project,” “plan,” “intend,” “anticipate,” “estimate,” “predict,” “potential,” “may,” “should,” “will” or other words or expressions of similar meaning, although not all forward-looking statements contain such terms.


Forward-looking statements are subject to risks and uncertainties, both known and unknown, that could cause actual results to differ materially from those expressed or implied in forward-looking statements. Such risks and uncertainties include, but are not limited to: our ability to manage health care costs and respond to price competition, inflation and other pressures that could compress our margins or result in premiums that are insufficient to cover the cost of services delivered to our customers; our ability to compete effectively, differentiate our products and services from those of our competitors and adapt to changes in an evolving and rapidly changing industry; our ability to develop and effectively implement products and services to improve the accessibility, affordability and transparency of health care; changes in drug pricing or industry pricing benchmarks; our ability to maintain relationships with one or more key pharmaceutical manufacturers or if payments made or discounts provided decline; changes in the pharmacy provider marketplace or pharmacy networks; the potential for actual claims to exceed our estimates related to expected medical claims; our ability to develop and maintain satisfactory relationships with health care payors, physicians, hospitals, other health service providers and with producers and consultants; potential liability in connection with managing medical practices and operating pharmacies, onsite clinics and other types of medical facilities; uncertainties surrounding participation in government-sponsored programs and providing services to payors who participate in government-sponsored programs; the substantial level of government regulation over our business and the potential effects of new laws or regulations or changes in existing laws or regulations; compliance with applicable privacy, security and data laws, regulations and standards; the outcome of litigation, regulatory audits and investigations; compliance costs and potential failure of our prevention, detection and control systems; our ability to invest in and properly maintain our information technology and other business systems; our ability to prevent or contain effects of a potential cyberattack or other privacy or data security incident; risks related to our use of artificial intelligence and machine learning; dependence on success of relationships with third parties; risk of significant disruption within our operations or among key suppliers or third parties; political, legal, operational, regulatory, economic and other risks that could affect our multinational operations, including currency exchange rates; risks related to strategic transactions and realization of the expected benefits of such transactions, as well as integration or separation difficulties or underperformance relative to expectations which could lead to an impairment charge; our ability to achieve our strategic and operational initiatives; unfavorable economic and market conditions, the risk of a recession or other economic downturn and resulting impact on employment metrics, stock market or changes in interest rates; risks related to a downgrade in financial strength ratings of our insurance subsidiaries; the impact of our significant indebtedness and the potential for further indebtedness in the future; credit risk related to our reinsurers; as well as more specific risks and uncertainties discussed in our most recent report on Form 10-K and subsequent reports on Forms 10-Q and 8-K available through the Investor Relations section of www.thecignagroup.com. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made, are not guarantees of future performance or results, and are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. The Cigna Group undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by law.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


THE CIGNA GROUP


Date: May 13, 2026
By:
/s/ Ann M. Dennison


Ann M. Dennison


Executive Vice President and Chief Financial Officer



FAQ

What 2026 financial outlook did The Cigna Group (CI) reaffirm?

The Cigna Group reaffirmed projected full year 2026 consolidated adjusted income from operations on a per share basis of at least $30.35 per share. This reiterates guidance previously discussed in its April 30, 2026 press release and related investor conference call.

How does The Cigna Group define adjusted income from operations?

Adjusted income from operations starts with shareholders’ net income, then excludes net investment gains or losses, amortization of acquired intangible assets, certain joint venture investment results and special items that management believes are not representative of normal, recurring operations.

Is Cigna’s adjusted income from operations a GAAP measure?

No. The Cigna Group states that consolidated adjusted income from operations is not determined in accordance with GAAP and should not be viewed as a substitute for shareholders’ net income, which is the most directly comparable GAAP measure.

Why can’t Cigna reconcile its 2026 adjusted income outlook to GAAP earnings?

Management explains it cannot reconcile projected adjusted income from operations to shareholders’ net income because it cannot reasonably predict future net investment results or future special items. These components are inherently uncertain and could materially affect shareholders’ net income and total revenues.

What risks could affect Cigna’s 2026 adjusted income outlook?

The company lists many risks, including health care cost trends, pricing competition, regulatory changes, cyber and technology risks, drug pricing dynamics, strategic transaction execution, macroeconomic conditions and litigation or regulatory actions, any of which could cause actual results to differ materially from projections.

Where can investors find more details about Cigna’s 2026 outlook?

Investors are directed to The Cigna Group’s April 30, 2026 press release and related investor call transcript, available in the Investor Relations section of www.thecignagroup.com, as well as its most recent Form 10-K and subsequent Forms 10-Q and 8-K.

Filing Exhibits & Attachments

3 documents