Strong Financial Performance
Revenues of $805 million were up 5% on an organic basis, adjusted operating margins were 21.1%, and adjusted EPS of $1.96 was up 6% compared to the prior year.
Proprietary Products Segment Growth
Proprietary Products segment revenues were $648 million, up 5.1% on an organic basis, driven by HVP components with a 13% organic increase.
Increased 2025 Guidance
Guidance for 2025 was increased due to strong performance, with full-year reported revenue expected to be $3.06 billion to $3.07 billion and adjusted EPS range increased to $7.06 to $7.11.
GLP-1 and Annex 1 Growth Drivers
GLP-1 elastomers now account for 9% of total company sales, contributing significantly to the growth. Annex 1 projects are expected to deliver 200 basis points of growth this year.
Contract Manufacturing Performance
Contract Manufacturing segment delivered revenues of $157 million, growing by 4.9% organically, with strong demand for self-injected devices for obesity and diabetes.