Photo: JHVEPhoto/Getty Images
The Cigna Group on Thursday reported $2.1 billion adjusted income from operations for the fourth quarter of 2025, compared with $1.8 billion for the fourth quarter of 2024.
Cigna's adjusted income from operations for full-year 2025 was $8 billion, compared with $7.7 billion for 2024.
Total revenues for the fourth quarter of 2025 and full-year 2025 increased 10% and 11%, respectively, relative to the fourth quarter of 2024 and full-year 2024. The company attributed the revenue growth mainly to its Evernorth Health Services unit, which includes Pharmacy Benefit Services and Specialty and Care Services.
Cigna's Q4 2025 financials were better than expected, even as the company lowered its full-year earnings guidance despite an improving outlook for its medical costs, according to Seeking Alpha. Its 2026 adjusted income from operations is projected to be at least $8 billion, the report said.
The Bloomfield, Connecticut-based managed care organization said its results underscored operational discipline and the strength of its complementary portfolio of global health businesses.
"In 2025, we expanded access and support, lowered costs, and improved transparency for our customers and patients," said David M. Cordani, chairman and CEO of The Cigna Group. "As we enter the new year, we are well‑positioned to build on this momentum, fueled by our innovations that leverage our diversified businesses and track record of strong financial performance."
Cordani said on Thursday's earnings call that the underlying cost drivers include rising demand, an aging population, the increased cost for a hospital stay and medical innovations that are coming at an elevated cost.
Cigna's approach to investing is to collaborate rather than own physician practices, Cordani said.
Cordani also said a rebate-free pharmacy benefit management (PBM) model, introduced in October, is driving down costs for consumers, along with affordable fertility drugs through TrumpRx.
Brian Evanko, president and COO, said the company is making investments in innovations to leverage digital and analytic capabilities.
Adjusted income from operations for the fourth quarter of 2025 increased 16% relative to the same period in 2024, driven by higher contributions, primarily from Cigna Healthcare as well as Evernorth Health Services.
Adjusted income from operations for 2025 increased 4% from 2024, reflecting growth in Evernorth Health Services, primarily within Specialty and Care Services.
Adjusted revenues fell about 16% for the Cigna Healthcare unit, which includes its insurance business, mainly due to the divestiture of the company's Medicare and related businesses to Health Care Services Corp. in March 2025.
Meanwhile, the Medical Care Ratio at Cigna Healthcare remained relatively flat at 88% in Q4, according to Seeking Alpha.
Email the writer: SMorse@himss.org