The Cigna Group reported higher third-quarter revenue and nearly flat adjusted earnings, while raising its 2026 adjusted earnings outlook. The company also set out a longer-term growth plan at its 2026 Investor Day, including a multiyear $3 billion modernization and productivity program.
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Revenue rose 6% to $73.7 billion from a year earlier, with growth in both Evernorth Health Services and Cigna Healthcare.
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Adjusted income from operations was $2.1 billion, or $7.98 per share, compared with $2.1 billion, or $7.83 per share, a year earlier. Growth in Cigna Healthcare and Specialty and Care Services was partly offset by a lower contribution from Pharmacy Benefit Services.
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Reported net income declined to $1.4 billion, or $5.47 per share, from $1.9 billion, or $6.98 per share. The main reason was that the prior-year quarter included a gain on a sale that did not recur.
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Cigna raised its 2026 outlook for adjusted income from operations to at least $30.60 per share. The release did not provide the previous outlook figure.
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At Investor Day, the company introduced its “Lead to One” vision and set long-term targets that include 10%–14% annual growth in adjusted earnings per share and about $50 billion in cumulative operating cash flow through 2030.
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Cigna also announced “Accelerate to One,” a multiyear program involving $3 billion in modernization and productivity initiatives. The company said the effort is intended to improve productivity, reduce costs and support longer-term earnings growth.
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The selling, general and administrative expense ratio rose to 4.9% from 4.8%; the adjusted ratio increased to 4.7% from 4.6%. Cigna attributed the increase to investments and growth initiatives, partly offset by operating efficiencies.
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The debt-to-capitalization ratio was 41.8% at September 30, down from 44.9% a year earlier and 43.0% at the end of 2025.
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Through November 4, Cigna had repurchased 1.8 million shares for about $500 million.
The quarter showed a gap between reported and adjusted earnings: reported profit was lower because the prior-year comparison included a sale gain, while adjusted earnings per share increased modestly. The new outlook and longer-term targets frame Cigna’s strategy around growth, cost discipline and cash generation, with the $3 billion program intended to support those priorities.