Company: CI
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001739940-25-000021
Chunk: 269

Company: Cigna Group
Filing Date: 2025-05-02
Form: 10-Q
Item: Part II, Item 15
Chunk 269
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2.1 %(20)bps

(1)See Note 17 to the Consolidated Financial Statements for reconciliation of adjusted revenues and pre-tax adjusted income from operations to Total revenues and Income before income taxes, respectively. 

(2)Pre-tax margin is calculated as pre-tax adjusted income from operations divided by adjusted revenues.

(3)SG&A expense ratio is calculated as segment selling, general and administrative expenses divided by adjusted revenues. See Note 17 to the Consolidated Financial Statements for further details.

In this selected financial information, we present adjusted revenues and pre-tax income from operations by our two operating segments, Pharmacy Benefit Services and Specialty and Care Services. 

Selected Financial InformationThree Months EndedMarch 31,Change(Dollars and adjusted scripts in millions)20252024Total adjusted revenuesPharmacy Benefit Services$29,742 $26,107 14 %Specialty and Care Services23,939 20,119 19 Total adjusted revenues$53,681 $46,226 16 %Pre-tax adjusted income from operationsPharmacy Benefit Services$544 $525 4 %Specialty and Care Services890 835 7 Total pre-tax adjusted income from operations$1,434 $1,360 5 %Pharmacy claim volume (1)539 513 5 %

(1)Non-specialty network prescriptions filled through 90-day programs and home delivery prescriptions are counted as three claims. All other network and specialty prescriptions are counted as one claim.

38

Three Months Ended March 31, 2025 versus Three Months Ended March 31, 2024

Commentary in parentheses regarding percentage changes represents the driver's impact on the overall category.

Adjusted revenues increased 16%, primarily reflecting higher utilization of prescription drugs from customer growth in both Specialty and Care Services (+7%) and Pharmacy Benefit Services (+5%), an increase due to claims mix in Pharmacy Benefit Services (+2%), and inflation on branded drugs in both Pharmacy Benefit Services (+1%) and Specialty and Care Services (+1%).

Pre-tax adjusted income from operations increased 5%, primarily reflecting specialty pharmacy growth in Specialty and Care Services (+7%) and continued affordability improvements in Pharmacy Benefit Services (+6%). These increases were partially offset by strategic investments and initiatives to support business growth (-4% in Specialty and Care Services and -2% in Pharmacy Benefit Services).

The SG&A expense ratio decreased 20 bps, primarily reflecting higher adjusted revenues as discussed above.

Cigna Healthcare Segment

Cigna Healthcare includes the