Cigna pulled in $1.4 billion in profit in Q4, a decrease that company officials say is due to elevated medical costs.

The Cigna Group (CI) revealed a profit for its fourth quarter that increased from last year but missed the Street estimates. The

Cigna said its medical loss ratio was 87.9% in Q4 2024, compared to 82.2% in the prior-year quarter. For the full-year 2024, MLR was 83.2%, which was still higher compared to the 81.3% its insurance unit reported in 2023.

BLOOMFIELD, Conn. (AP) — BLOOMFIELD, Conn. (AP) — The Cigna Group (CI) on Thursday reported fourth-quarter earnings of $1.42 billion. On a per-share basis, the Bloomfield, Connecticut-based company said it had net income of $5.13. Earnings, adjusted for amortization costs and non-recurring costs, were $6.64 per share.

Cigna (CI) came out with quarterly earnings of $6.64 per share, missing the Zacks Consensus Estimate of $7.83 per share. This compares to earnings of $6.79 per share a year ago. These figures are adjusted for non-recurring items.