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.
New York Times Reports Mixed Q2 Earnings
Party City Falls After Q2 Earnings Miss, Guidance Cut
See more from Benzinga
- Tribune Media Reports Mixed Q2 Earnings
- InMode Opens Below IPO Price
- 'A Framework': UK Issues Cryptocurrency Guidance
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.