West Pharma reports Q1 2023 net sales $716.6M, adjusted EPS $1.98; raises full-year guidance

WEST PHARMACEUTICAL SERVICES INC

2023-Q1 EPS reported $1.85 revenue$716,600,000

Net sales $716.6M (down 0.5% YoY); organic sales growth 2.3%. Reported diluted EPS $1.85 (down 19.2%); adjusted diluted EPS $1.98 (down 13.9%).
Raised FY2023 net sales guidance to $2.965-2.990B from $2.935-2.960B; adjusted EPS guidance to $7.50-7.65 from $7.25-7.40.
Proprietary Products segment net sales $583.1M (down 3.0%); Biologics market unit organic sales declined double-digits due to lower COVID-19 sales.
Operating cash flow $138.1M; free cash flow $56.0M (down 34.4%). Repurchased 183,360 shares for $60.1M at avg price $327.90.
Board approved Q3 2023 dividend $0.19/share payable Aug 2, 2023 to holders of record Jul 26, 2023.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WEST PHARMACEUTICAL SERVICES INC reported first-quarter 2023 results: revenue $716.6 million, EPS $1.85. Guidance raised.

Period: first-quarter 2023
Revenue: $716.6 million
EPS: $1.85
Guidance: raised
Result: reported results

Exact text from the filing

West Pharmaceutical Services, Inc. (NYSE: WST) today announced its financial results for the first-quarter 2023 and updated full-year 2023 financial guidance. First-Quarter 2023 Summary (comparisons to prior-year period) • Net sales of $716.6 million declined 0.5%; organic sales growth was 2.3%. • Reported-diluted EPS of $1.85 declined by 19.2%. • Adjusted-diluted EPS of $1.98 declined by 13.9%. • The Company is updating full-year 2023 financial guidance of net sales to a new range of $2.965 billion to $2.990 billion compared to a prior range of $2.935 billion to $2.960 billion. • The Company is updating full-year 2023 financial guidance of adjusted-diluted EPS to a new range of $7.50 to $7.65, compared to a prior range of $7.25 to $7.40.

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Source: SEC EDGAR

accession 0000105770-23-000018

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