West Pharmaceutical Services, Inc. · NYSE:WST
West Pharmaceutical Services — Q3 2019 Earnings Presentation
15 slides from West Pharmaceutical Services's earnings presentation, Oct 24, 2019
Slide 1: Third-Quarter 2019 Analyst Conference Call
West Pharmaceutical Services, Inc. Third-Quarter 2019 Analyst Conference Call 9 a.m. Eastern Time, October 24, 2019 ▪ A webcast of today’s call can be accessed in the “Investors” section of the Company’s website: www.westpharma.com Speakers: ▪ To participate on the call, please dial: Eric M. Green −
Slide 2: Safe Harbor Statement
Safe Harbor Statement Cautionary Statement Under the Private Securities Litigation Reform Act of 1995 This presentation and any accompanying management commentary contain “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements inc
Slide 3: Third-Quarter 2019 Earnings Highlights
Third-Quarter 2019 Earnings Highlights • Net sales of $456.1 million grew 5.7%, organic sales growth was 7.9% • Reported-diluted EPS of $0.75 increased 3% • Adjusted-diluted EPS of $0.79 increased 4% (1) • Company raised full-year 2019 net sales guidance to a new range of between $1.815 billion and
Slide 4: Organic Sales Growth Q3 2019
Organic Sales Growth Q3 2019 Overall Organic Proprietary Products organic sales growth of 8.5%, led by sales of 7.9% Sales Growth high-value products, which grew double digits Sales led by high-value products, including NovaPure®, Daikyo® and ® BIOLOGICS Biologics DD Flurotec components as well as p
Slide 5: High-Value Product Expansion Opportunities
High-Value Product Expansion Opportunities 5 WST Q3 2019 Earnings
Slide 6: Third-Quarter 2019 Summary Results
Third-Quarter 2019 Summary Results ($ millions, except earnings-per-share (EPS) data) Three Months Ended September 30, 2019 2018 Reported Net Sales $456.1 $431.7 Gross Profit Margin 32.4% 31.4% Reported Operating Profit $67.3 $60.8 Adjusted Operating Profit $70.1 $63.1 Reported-Diluted EPS $0.75 $0.
Slide 7: Change in Consolidated Net Sales Third-quarter 2018 to 2019
Change in Consolidated Net Sales Third-quarter 2018 to 2019 ($ millions) 7 WST Q3 2019 Earnings
Slide 8: Gross Profit Update
Gross Profit Update ($ millions) Three Months Ended September 30, 2019 2018 Proprietary Products Gross Profit $131.8 $120.4 Proprietary Products Gross Profit Margin 38.2% 37.0% Contract-Manufactured Products Gross Profit $16.0 $15.2 Contract-Manufactured Products Gross Profit Margin 14.4% 14.3% Cons
Slide 9: Cash Flow and Balance Sheet Metrics
Cash Flow and Balance Sheet Metrics ($ millions) Cash Flow Items Financial Condition YTD YTD September 30, December 31, Q319 Q318 2019 2018 Depreciation and Amortization $77.1 $78.1 Cash and Cash Equivalents $396.0 $337.4 Operating Cash Flow $260.8 $215.4 Debt $195.1 $196.1 Capital Expenditures $88.
Slide 10: 2019 Full-Year Guidance
2019 Full-Year Guidance 2019 Full-Year Guidance(1,2) Consolidated Net Sales $1.815 - $1.825 billion Adjusted-Diluted EPS $3.10 - $3.15 (1) Please refer to “Notes to Non-U.S. GAAP Financial Measures” on slides 11-15, and “Non-U.S. GAAP Financial Measures” in today’s press release, for additional info
Slide 11: Notes to Non-U.S. GAAP Financial Measures
Notes to Non-U.S. GAAP Financial Measures For additional details, please see today’s press release & Safe Harbor Statement ▪ For the purpose of aiding the comparison of our year-over-year results, we may refer to net sales and other financial results excluding the effects of changes in foreign curre
Slide 12: Notes to Non-U.S. GAAP Financial Measures
Notes to Non-U.S. GAAP Financial Measures RECONCILIATION OF NON-U.S. GAAP FINANCIAL MEASURES (UNAUDITED) See “Notes to Non-U.S. GAAP Financial Measures” (Slides 11-15), “Cautionary Statement” (Slide 2) and today’s press release for an explanation and reconciliation of these items. Reconciliation of
Slide 13: Notes to Non-U.S. GAAP Financial Measures
Notes to Non-U.S. GAAP Financial Measures RECONCILIATION OF NON-U.S. GAAP FINANCIAL MEASURES (UNAUDITED) See “Notes to Non-U.S. GAAP Financial Measures” (Slides 11-15), “Cautionary Statement” (Slide 2) and today’s press release for an explanation and reconciliation of these items. Reconciliation of
Slide 14: Notes to Non-U.S. GAAP Financial Measures
Notes to Non-U.S. GAAP Financial Measures RECONCILIATION OF NON-U.S. GAAP FINANCIAL MEASURES (UNAUDITED) See “Notes to Non-U.S. GAAP Financial Measures” (Slides 11-15), “Cautionary Statement” (Slide 2) and today’s press release for an explanation and reconciliation of these items. Reconciliation of
Slide 15: Notes to Non-U.S. GAAP Financial Measures
Notes to Non-U.S. GAAP Financial Measures RECONCILIATION OF NON-U.S. GAAP FINANCIAL MEASURES (UNAUDITED) See “Notes to Non-U.S. GAAP Financial Measures” (Slides 11-15), “Cautionary Statement” (Slide 2) and today’s press release for an explanation and reconciliation of these items. Reconciliation of
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