Cigna earnings for the fourth quarter of 2018 have CI stock falling on Friday due to a poor 2019 guidance.
Cigna (NYSE:CI) provides its outlook for the full year of 2019 in its most recent earnings report. The company says that it is expecting earnings per share for the year to range from $16.00 to $16.50. This represents an increase between 13% to 16% over its 2018 earnings per share. However, this is bad news for CI stock, as it will have it missing Wall Street’s earnings per share estimate of $16.75 for 2019.
The poor outlook for 2019 is a blow to what is otherwise a solid Cigna earnings report. This includes the company reporting earnings per share of $2.46. This is better than its earnings per share of $1.94 from the same time last year. It also beats out Wall Street’s earnings per share estimate of $2.42 for the quarter, but couldn’t save CI stock from falling.
Net income reported by Cigna for the fourth quarter of 2018 came in at $144 million. This is a drop from the company’s net income of $266 million that was reported in the same period of the year prior.
The Cigna earnings report for the fourth quarter of the year also includes revenue of $14.30 billion. This is up from the health services company’s revenue of $10.63 billion reported in the fourth quarter of 2017. It also comes in above analysts’ revenue estimate of $11.59 billion for the period, but wasn’t enough to save CI stock today.
CI stock was down 2% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.