Diplomat Pharmacy Reports Q2 Earnings Beat, Will Explore Strategic Alternatives
Diplomat Pharmacy, Inc. (NYSE: DPLO) reported second-quarter earnings at $2.13 per share. The company reported revenue of $1,288 million, compared to $1,416 million last year.
Despite the positive earnings Diplomat Pharmacy has cut fiscal year 2019 sales guidance to $4.7 billion -$5 billion versus the $4.91 billion estimate.
The company also announced it is reviewing strategic alternatives.
"We continue to believe in our business model and long-term prospects and we remain encouraged by our pipeline for 2020, despite our reduced guidance for 2019,” said Brian Griffin, CEO of Diplomat. “We are pleased that infusion therapies continue to demonstrate strength and we are taking actions to improve our core specialty pharmacy business, rebuild our PBM and enhance our financial flexibility."
Diplomat Pharmacy shares were trading up 5.26% at $5.60 in Friday’s pre-market session. The stock has a 52-week high of $21.48 and a 52-week low of $4.17.
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