secwatch.observer — SEC 8-K summary
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Issuer:     WEST PHARMACEUTICAL SERVICES INC (WST)
CIK:        0000105770
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0000105770-23-000018
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/105770/000010577023000018/0000105770-23-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/105770/000010577023000018/wst-20230427.htm
  HTML page:      https://secwatch.observer/filing/0000105770-23-000018

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