The earnings call reflected strong performance in key growth areas like HVP components and delivery devices, leading to upward revisions in revenue and EPS guidance for 2025. However, challenges such as slow growth in Standard Products, persistent destocking in generics, and tariff uncertainties remain concerns.

Company Guidance -

Q3 2025

During the Q2 2025 earnings call, West Pharmaceutical Services provided several key metrics and guidance updates for the fiscal year. The company reported a 9.2% increase in net sales, with a 6.8% rise on an organic basis, driven by robust growth in GLP-1 elastomer products, which accounted for 8% of total revenues in the quarter. The Proprietary Products segment saw an 8.4% organic growth, bolstered by an 11.3% increase in HVP components. West's Contract Manufacturing segment experienced a 0.5% organic revenue increase, with total net sales reaching $766.5 million. The company raised its full-year 2025 guidance, now expecting net sales between $3.04 billion and $3.06 billion, and adjusted diluted EPS in the range of $6.65 to $6.85. This upward revision is attributed to strong Q2 performance, ongoing momentum in HVP components, and a favorable foreign exchange environment. Adjusted gross profit margin improved by 290 basis points year-over-year to 35.7%, with adjusted operating profit margin up by 230 basis points to 20.3%. Additionally, full-year CapEx guidance remains at $275 million, with expected tariffs estimated to impact the business by $15 million to $20 million in 2025.

Strong Revenue Growth

Net sales increased 9.2% in Q2 2025, and 6.8% on an organic basis, driven by robust GLP-1 elastomer growth and HVP components. Adjusted diluted EPS increased by 21.1% compared to Q2 2024.

Proprietary Products Segment Performance

Proprietary Products segment saw an 8.4% organic growth, with HVP components increasing 11.3% in the quarter.

HVP Delivery Devices Growth

Revenues from HVP Delivery Devices increased by 30% in Q2 2025, driven by Daikyo Crystal Zenith containment and administration systems.

Upgraded Guidance for 2025

Full-year 2025 revenue guidance increased to $3.04 billion to $3.06 billion from the previous range of $2.945 billion to $2.975 billion.

Improving Gross Profit Margins

Gross profit margin increased by 290 basis points year-over-year to 35.7% in Q2 2025.

Positive Currency Impact

A favorable foreign currency environment contributed a $16.5 million tailwind to revenue in Q2 2025.

West Pharmaceutical Services (WST) Earnings, Revenues Date & History

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WST Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 23, 2025	2025 (Q3)	1.68 / -	1.85	―	―	―
Jul 24, 2025	2025 (Q2)	1.51 / 1.84	1.52	21.05% (+0.32)
Apr 24, 2025	2025 (Q1)	1.23 / 1.45	1.56	-7.05% (-0.11)
Feb 13, 2025	2024 (Q4)	1.72 / 1.82	1.83	-0.55% (-0.01)
Oct 24, 2024	2024 (Q3)	1.50 / 1.85	2.16	-14.35% (-0.31)
Jul 25, 2024	2024 (Q2)	1.74 / 1.52	2.11	-27.96% (-0.59)
Apr 25, 2024	2024 (Q1)	1.27 / 1.56	1.98	-21.21% (-0.42)
Feb 15, 2024	2023 (Q4)	1.78 / 1.83	1.77	3.39% (+0.06)
Oct 26, 2023	2023 (Q3)	1.86 / 2.16	2.03	6.40% (+0.13)
Jul 27, 2023	2023 (Q2)	1.93 / 2.11	2.47	-14.57% (-0.36)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

WST Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 24, 2025	$227.12	$278.87	+22.79%
Apr 24, 2025	$217.78	$210.21	-3.48%
Feb 13, 2025	$321.70	$198.75	-38.22%
Oct 24, 2024	$285.56	$329.63	+15.43%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.