Benzinga | Sep 2, 2021 06:20AM EDT

Cigna 8-K Shows Co. To Meet With Investors, Analysts Over Next Several Weeks, Will Reaffirm FY21 Adj. EPS Guidance At Least $20.20, FY22 Adj. EPS Growth At Least 10% Year Over Year

Cigna Corporation ("Cigna" or the "Company") officials expect to participate in meetings with investors and analysts over the next several weeks. During these meetings, Cigna officials expect to reaffirm projected full year 2021 consolidated adjusted income from operations on a per share basis of at least $20.20 per share, and projected growth of at least 10% in consolidated adjusted income from operations on a per share basis for full year 2022 year-over-year.

Cigna previously discussed its full year 2021 and 2022 outlook in its press release and investor presentation dated August 5, 2021 and during the related investor conference call. The press release, presentation and the conference call transcript are available in the Investor Relations section of Cigna's website located at www.cigna.com. Forward-looking statements in these documents and the related call speak only as of the date they were made.

Adjusted income (loss) from operations is a principal financial measure of profitability used by Cigna's management because it presents the underlying results of operations of Cigna's businesses and permits analysis of trends in underlying revenue, expenses and shareholders' net income. Adjusted income from operations is defined as shareholders' net income (or income before taxes for the segment metric) excluding net realized investment results, amortization of acquired intangible assets and special items. Cigna's share of certain realized investment results of its joint ventures reported in the International Markets segment using the equity method of accounting are also excluded. Special items are matters that management believes are not representative of the underlying results of operations due to their nature or size. Adjusted income (loss) from operations is measured on an after-tax basis for consolidated results and on a pre-tax basis for segment results. Consolidated adjusted income (loss) from operations is not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP measure, shareholders' net income.

Management is not able to provide a reconciliation of adjusted income from operations to shareholders' net income (loss) on a forward-looking basis because it is unable to predict, without unreasonable effort, certain components thereof including (i) future net realized investment results (from equity method investments with respect to adjusted revenues) and (ii) future special items. These items are inherently uncertain and depend on various factors, many of which are beyond Cigna's control. As such, any associated estimate and its impact on shareholders' net income could vary materially.

Cigna currently intends to pay regular quarterly dividends, with future declarations subject to approval by its Board of Directors and the Board's determination that the declaration of dividends remains in the best interests of Cigna and its shareholders. The decision of whether to pay future dividends and the amount of any such dividends will be based on the Company's financial position, results of operations, cash flows, capital requirements, the requirements of applicable law and any other factors the Board of Directors may deem relevant.