Total revenues in the second quarter were $60.5 billion, up 24.6% year over year, and primarily driven by significant growth at Evernorth. The company reported $1.5 billion in net income, up 6%.
The insurance side of the business, Cigna Healthcare, reported second-quarter revenues of $13.1 billion, up 3.4% from the previous year. As of June 30, Cigna had 19 million total medical members, down 2.4% year over year.
The company’s medical loss ratio was 82.3% in the second quarter, compared to 81.2 percent during the same period last year.
Evernorth revenues rose nearly 30% year over year to $49.5 billion. Pharmacy service revenues grew more than 41% to $26.6 billion, reflecting client wins and organic growth. In the first six months of 2024, total pharmacy customers increased 24% to 122.5 million.
For 2024, the company projects revenues of at least $235 billion. Full-year adjusted income from operations is projected to be at least $8.1 billion, or at least $248.40 per share.
