West Pharmaceutical Services, Inc. · NYSE:WST
West Pharmaceutical Services — Q2 2020 Earnings Presentation
17 slides from West Pharmaceutical Services's earnings presentation, Jul 23, 2020
Slide 1: Second-Quarter 2020 Analyst Conference Call
West Pharmaceutical Services, Inc. Second-Quarter 2020 Analyst Conference Call 9 a.m. Eastern Time, July 23, 2020 Eric M. Green Bernard J. Birkett Speakers President and Senior Vice President and Chief Executive Officer Chief Financial Officer A webcast of today’s call can be accessed in the “Invest
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: Helping customers bring new medicines and treatments to patients
We are in the business of helping our customers bring new medicines and treatments that improve the lives of patients. 3 WST Q2 2020 Earnings
Slide 4: Addressing Pandemic Demand for Future Therapeutics and Vaccines
Addressing Pandemic Demand for Future Therapeutics and Vaccines Global Commercial Manufacturing Engagement Operations Team Capital Members Expansion 4 WST Q2 2020 Earnings
Slide 5: Second-Quarter 2020 Results
Second-Quarter 2020 Results ▪ Q2 2020 net sales of $527.2 million grew 12.2%; organic sales growth was 14.3% ▪ Q2 2020 reported-diluted EPS of $1.21 increased 38%; adjusted- diluted EPS of $1.25 increased 40% ▪ Company is raising full-year 2020 net sales guidance to a new range of between $2.035 bil
Slide 6: Second-Quarter 2020 Summary Results
Second-Quarter 2020 Summary Results ($ millions, except earnings-per-share (EPS) data) Three Months Ended June 30 2020 2019 Reported Net Sales $527.2 $469.7 Gross Profit Margin 37.0% 33.6% Reported Operating Profit $103.6 $80.5 Adjusted Operating Profit (1) $106.0 $81.9 Reported Operating Profit Mar
Slide 7: Second-Quarter 2020 Organic Sales Growth
Second-Quarter 2020 Organic Sales Growth Q2 OVERALL ORGANIC SALES GROWTH Proprietary Products Q2 2020 organic sales growth of 13.3%, 14.3% led by sales of high-value products, which grew double digits CONTRACT BIOLOGICS GENERICS PHARMA MANUFACTURING Sales led by high-value products, Sales led by hig
Slide 8: Change in Consolidated Net Sales
Change in Consolidated Net Sales Second-quarter 2019 to 2020 ($ millions) 8 WST Q2 2020 Earnings
Slide 9: Gross Profit Update
Gross Profit Update ($ millions) Three Months Ended June 30, 2020 2019 Proprietary Products Gross Profit $170.8 $142.2 Proprietary Products Gross Profit Margin 42.8% 39.5% Contract-Manufactured Products Gross Profit $24.3 $15.7 Contract-Manufactured Products Gross Profit Margin 19.0% 14.3% Consolida
Slide 10: Cash Flow and Balance Sheet Metrics
Cash Flow and Balance Sheet Metrics ($ millions) Cash Flow Items Financial Condition YTD YTD June 30, December 31, Q2 2020 Q2 2019 2020 2019 Depreciation and Amortization $52.2 $51.8 Cash and Cash Equivalents $445.9 $439.1 Operating Cash Flow $205.2 $152.7 Debt $256.2 $257.3 Capital Expenditures $69
Slide 11: 2020 Full-Year Guidance
2020 Full-Year Guidance 2020 Full-Year Guidance (1,2) Consolidated Net Sales $2.035 - $2.055 billion Adjusted-Diluted EPS $4.15 - $4.25 (1) Please refer to “Notes to Non-U.S. GAAP Financial Measures” on slides 13-17 and the discussion under the heading “Non-U.S. GAAP Financial Measures” in today’s p
Slide 12: Operating with Urgency for the Future
Operating with Urgency for the Future ▪ Market-led strategy is delivering unique value propositions to customers ▪ Global operations is manufacturing and delivering products with market-leading service and quality ▪ We continue to invest in our business with digital technology and automation ▪ We ar
Slide 13: 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 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 13-17), “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 13-17), “Cautionary Statement” (Slide 2) and today’s press release for an explanation and reconciliation of these items. Reconciliation of
Slide 16: 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 13-17), “Cautionary Statement” (Slide 2) and today’s press release for an explanation and reconciliation of these items. Reconciliation of
Slide 17: 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 13-17), “Cautionary Statement” (Slide 2) and today’s press release for an explanation and reconciliation of these items. Reconciliation of
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