Diplomat Pharmacy (DPLO) Tops Q3 EPS by 10c, Miss on Revenues; FY17 EPS Guidance Above Consensus

Diplomat Pharmacy (NYSE: DPLO) reported Q3 EPS of $0.25, $0.10 better than the analyst estimate of $0.15. Revenue for the quarter came in at $1.13 billion versus the consensus estimate of $1.16 billion.

2017 Financial Outlook

For the full-year 2017, we are updating our previous financial guidance:

• Revenue between $4.4 and $4.6 billion, versus the previous range of $4.3 and $4.6 billion
• Net income attributable to Diplomat between $10 and $14 million, versus the previous range of $10 and $16 million
• Adjusted EBITDA between $99 and $102 million, versus the previous range of $97 and $103 million
• Diluted EPS between $0.15 and $0.20, versus the previous range of $0.15 and $0.23
• Adjusted EPS between $0.82 and $0.87, versus the previous range of $0.71 and $0.79

Third Quarter 2017 Highlights include:

• Revenue of $1,125 million, compared to $1,181 million
• Total prescriptions dispensed of 222,000, compared to 266,000
• Gross margin of 7.6% versus 6.6%
  • Gross profit per prescription dispensed of $360, compared to $289
• Net income attributable to Diplomat of $1.0 million, compared to $5.4 million
• Adjusted EBITDA of $23.2 million, compared to $22.6 million
  • Adjusted EBITDA margin of 2.1% versus 1.9%
• EPS of $0.01 per diluted common share versus $0.08
  • Adjusted EPS of $0.25 versus $0.21

GUIDANCE:

Diplomat Pharmacy sees FY2017 EPS of $0.82-$0.87, versus the consensus of $0.75. Diplomat Pharmacy sees FY2017 revenue of $4.4-4.6 billion, versus the consensus of $4.52 billion.

For earnings history and earnings-related data on Diplomat Pharmacy (DPLO) click here.

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