The company said it repurchased 10.1 million shares for about $3.4 billion in Q1 2024 and expects to repurchase $5.0 billion in the first half of 2024. Cigna said the accelerated share repurchase (ASR) agreements it entered into in February total $3.2 billion, with final settlement expected in Q2.

10-QQuarterly reportFiled May 2, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said it repurchased 10.1 million shares for about $3.4 billion in Q1 2024 and expects to repurchase $5.0 billion in the first half of 2024. Cigna said the accelerated share repurchase (ASR) agreements it entered into in February total $3.2 billion, with final settlement expected in Q2.
Evernorth Health Services said its adjusted revenues for Q1 2024 rose 28% from a year earlier, and its pre-tax adjusted income from operations increased 3%. The company cited higher claims volume from the Centene collaboration, which began on January 1, 2024, as the main factor behind the revenue increase.
Cigna said it issued $4.5 billion of new senior notes in February 2024 and used the proceeds to repurchase $1.8 billion of existing senior notes in principal amount through cash tender offers. The debt-to-capitalization ratio was 40.1% on December 31, 2023 and 44.3% on March 31, 2024.
The company said it entered into an agreement in January 2024 to sell its Medicare Advantage and other businesses to HCSC for a transaction value of about $3.7 billion, and it expects the deal to close in Q1 2025. Cash and short-term investments were $8.8 billion as of March 31, 2024.

Key figures

Quarter ended March 31, 2024

Revenue: $57.3B
Operating income: $2.3B
Net income: −$212M
EPS: −$0.97
Operating cash flow: $4.8B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Shareholder returns in Q1 2024: share buybacks and ASR

The company said it repurchased 10.1 million shares for about $3.4 billion in Q1 2024 and expects to repurchase $5.0 billion in the first half of 2024. Cigna said the accelerated share repurchase (ASR) agreements it entered into in February total $3.2 billion, with final settlement expected in Q2.

Source · Based on the MD&A text of the filing

Evernorth Health Services adjusted revenues and pre-tax adjusted income from operations in Q1

Evernorth Health Services said its adjusted revenues for Q1 2024 rose 28% from a year earlier, and its pre-tax adjusted income from operations increased 3%. The company cited higher claims volume from the Centene collaboration, which began on January 1, 2024, as the main factor behind the revenue increase.

Source · Based on the MD&A text of the filing

Senior notes issuance, tender offers and debt-to-capitalization ratio in February 2024

Cigna said it issued $4.5 billion of new senior notes in February 2024 and used the proceeds to repurchase $1.8 billion of existing senior notes in principal amount through cash tender offers. The debt-to-capitalization ratio was 40.1% on December 31, 2023 and 44.3% on March 31, 2024.

Source · Based on the MD&A text of the filing

HCSC sale agreement and liquidity as of March 31, 2024

The company said it entered into an agreement in January 2024 to sell its Medicare Advantage and other businesses to HCSC for a transaction value of about $3.7 billion, and it expects the deal to close in Q1 2025. Cash and short-term investments were $8.8 billion as of March 31, 2024.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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