CIGNA beats by $0.56, beats on revs; raises and guides FY19 EPS above consensus, revs above consensus (169.92)
- Reports Q2 (Jun) earnings of $4.30 per share, $0.56 better than the S&P Capital IQ Consensus of $3.74; revenues rose 198.9% year/year to $34.38 bln vs the $33.27 bln S&P Capital IQ Consensus.
- Co issues upside guidance for FY19, sees EPS of $16.60-16.90 vs. $16.53 S&P Capital IQ Consensus; sees FY19 revs of $136-137 bln vs. $133.64 bln S&P Capital IQ Consensus.
- 2020 OUTLOOK
- Health Services' projected 2020 retention rate for the 2019 selling season for pharmacy services is now in the range of 97% to 98%, an increase of 50 bps from the midpoint of our previous expectations.
- Health Services' adjusted pharmacy scripts 9 are expected to grow 25 to 35 million scripts organically in 2020