Cigna Lifts Forecast After Quarterly Profit, Sales Top Estimates

Cigna Group raised its annual forecast and posted first-quarter earnings that beat Wall Street expectations, offering reassurance to investors still rattled by UnitedHealth Group Inc.’s shock forecast cut.

Adjusted earnings came in at $6.74 a share, topping the Bloomberg consensus estimate. Revenue also exceeded expectations. Cigna raised its full-year earnings forecast by 10 cents, to at least $29.60 a share.

The results mark another encouraging sign for the health-insurance sector after UnitedHealth’s April miss stoked concerns about rising costs. Several peers have since posted strong profits, easing fears of broader pressure.

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