Cigna Q3 Profit Down; Raises 2014 Adj. Profit View - Quick Facts

(RTTNews) - Health insurer Cigna Corp. (CI) reported that its shareholders' net income for the third quarter of 2014 was $534 million, or $2.01 per share, compared to $553 million, or $1.95 per share, for the third quarter of 2013.

Cigna's adjusted income from operations for the third quarter of 2014 was $519 million, or $1.95 per share, compared to $536 million, or $1.89 per share, for the third quarter of 2013. Analysts polled by Thomson Reuters expected the company to report earnings of $1.83 per share for the quarter. Analysts' estimates typically exclude special items. Results in the third quarter of 2014 reflect strong revenue growth, disciplined expense management and continued effective medical cost management.

Consolidated revenues in the quarter were $8.8 billion, an increase of 9% over third quarter 2013. Revenues reflect growth in premiums and fees of 7% in Global Health Care, 17% in Global Supplemental Benefits and 7% in Group Disability and Life, primarily driven by continued growth in Cigna's targeted customer segments. Wall Street expected revenues of $8.66 billion for the quarter.

Looking ahead for fiscal 2014, the company now expects adjusted income from operations to be in the range of $1.95 billion to $2.00 billion or $7.25 to $7.45 per share. Analysts expect annual earnings of $7.35 per share.

The company said in July that it expected adjusted income from operations to be in the range of $1.94 billion - $2.0 billion, or $7.20 - $7.40 per share for fiscal 2014.