West Pharmaceutical Services, Inc. · NYSE:WST

West Pharmaceutical Services — Q3 2025 Earnings Presentation

22 slides from West Pharmaceutical Services's earnings presentation, Oct 23, 2025

  1. Slide 1: Third-Quarter 2025 Earnings Call

    West Pharmaceutical Services, Inc. Eric M. Green President & CEO, Chair of the Board Bob W. McMahon Senior VP & Chief Financial Officer Third-Quarter 2025 Earnings Call October 23, 2025 | 8 a.m. Eastern Time

  2. Slide 2: West Analyst Conference Call

    2 West Analyst Conference Call October 23, 2025 8 a.m. Eastern Time These presentation materials are intended to accompany and serve as a reference for today’s press release announcing the Company’s results for the third quarter 2025 and management’s discussion of those results during today’s confer

  3. Slide 3: Safe Harbor Statement

    3 Safe Harbor Statement 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 include, but are not limited to, statements about product development, operationa

  4. Slide 4: 3Q25 Financial Highlights

    4 • Net sales $804.6M, +7.7% & +5.0% organic(1) o $19 million, one-time incentive fee in PY reduced organic growth by 2.8% • Gross margin 36.6%, +120 bps YoY​ • Adjusted operating profit margin(1) 21.1%, -40 bps vs. 3Q24 o $19 million, one-time incentive fee in PY negatively impacted YoY OP margin e

  5. Slide 5: Capitalizing on Key Growth Drivers Across Our Business

    5 Capitalizing on Key Growth Drivers Across Our Business Biologics Expanding market – driving High- Value Products Annex 1 EU regulatory framework upgrade opportunity GLP-1 Fastest growing category, multi-year opportunity – 17% of Net Sales Capacity Expansion Across 8 locations: 4 in U.S; 3 in Europ

  6. Slide 6: Proprietary Products Segment

    6 Proprietary Products Segment Segment Performance • Proprietary net sales of $647.5M, +7.7% YoY, +5.1% organic • Segment gross profit of 40.8%, +160 bps YoY ​ • Proprietary OP margin of 27.1%, +80 bps YoY. o $19 million one-time incentive fee in PY negatively impacted YoY OP margin expansion by 240

  7. Slide 7: Contract Manufacturing Segment

    7 Contract Manufacturing Segment Segment Performance • CM net sales of $157.1M, +8.0% YoY & +4.9% organic​ • Segment gross profit 19.3%, -60 bps YoY​ • CM OP margin 14.2%, -80 bps YoY Contract Manufacturing Revenues $M $145.5 $157.1 3Q24 3Q25 3Q25 results CM OP Margin % 15.0% 14.2% 3Q24 3Q25 Net sal

  8. Slide 8: Strategically Diversified Platform with Global Reach

    8 Strategically Diversified Platform with Global Reach 1 Quarter ended September 30, 2025 – numbers represent % of total company sales 2 Non-proprietary products 47% Americas 45% Europe, Middle East, Africa Asia Pacific 8% Net Sales1 by Geographic Location 48% HVP Components20% Standard Packaging 12

  9. Slide 9: 3Q25 Revenue by Market Group

    9 3Q25 Revenue by Market Group 3Q25 Revenues YoY % chg. Currency % Organic % Share of Total Company Revenue Biologics* $329.1 11.0% 2.7% 8.3% 41% Generics $135.9 4.0% 1.4% 2.6% 17% Pharma $182.5 4.7% 3.3% 1.4% 22% Proprietary Prod. Segment $647.5 7.7% 2.6% 5.1% 80% Contract Man. Segment $157.1 8.0%

  10. Slide 10: 3Q25 Revenue by Product Category

    10 3Q25 Revenue by Product Category 3Q25 Revenues YoY % chg. Currency % Organic % Share of Total Company Revenue HVP Components $390.0 16.3% 3.0% 13.3% 48% HVP Delivery Devices* $99.1 (15.7)% 1.0% (16.7)% 12% Standard Products $158.4 6.7% 3.1% 3.6% 20% Proprietary Prod. Segment $647.5 7.7% 2.6% 5.1%

  11. Slide 11: 3Q25 Revenue by Geography

    11 3Q25 Revenue by Geography 3Q25 Revenues YoY % chg. Currency % Organic % Share of Total Company Revenue Americas $375.3 5.3% 0.1% 5.2% 47% Europe, Middle East, Africa $361.1 9.4% 6.3% 3.1% 45% Asia Pacific $68.2 13.1% (1.8)% 14.9% 8% Total Company $804.6 7.7% 2.7% 5.0% 100%

  12. Slide 12: Change in Consolidated Net Sales 3Q25 vs. 3Q24

    Change in Consolidated Net Sales 3Q25 vs. 3Q24 ($ millions) $746.9 ($19.0) $12.5 $44.1 $20.1 $804.6 3Q24 PY Customer Incentives CY Sales Price Volume & Mix Fx. Translation 3Q25 12

  13. Slide 13: Guidance Overview

    13* Current Adjusted EPS guidance includes 3Q25 Stock Based Compensation Tax benefit of $0.05 and assumes no additional benefit in 4Q25. Revenue Previous Annual Guidance 4Q25 GuidanceCurrent Annual Guidance Fx. YoY Revenue Impact Organic Revenue Growth % Adjusted EPS* YoY Fx. on Adjusted EPS Tax Ben

  14. Slide 14: Investor Relations contact

    Investor Relations contact: https://investor.westpharma.co m/contact-investor-relations www.westpharma.com

  15. Slide 15: Non-U.S. GAAP Financial Measures

    Notes to Non-U.S. GAAP Financial Measures The Non-U.S. GAAP financial measures are incorporated into our discussion and analysis as management uses them in evaluating our results of operations and believes that this information provides users a valuable insight into our overall performance and finan

  16. Slide 16: Reconciliation of 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”, “Safe Harbor Statement” (Slide 3) and today’s press release for an explanation and reconciliation of these items. Reconciliation of Reported and A

  17. Slide 17: Reconciliation of 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”, “Safe Harbor Statement” (Slide 3) and today’s press release for an explanation and reconciliation of these items. Reconciliation of Reported and A

  18. Slide 18: Reconciliation of 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”, “Safe Harbor Statement” (Slide 3) and today’s press release for an explanation and reconciliation of these items. Reconciliation of Reported Net S

  19. Slide 19: Reconciliation of 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”, “Safe Harbor Statement” (Slide 3) and today’s press release for an explanation and reconciliation of these items. Reconciliation of Proprietary Pr

  20. Slide 20: Reconciliation of 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”, “Safe Harbor Statement” (Slide 3) and today’s press release for an explanation and reconciliation of these items. Reconciliation of Proprietary Pr

  21. Slide 21: Reconciliation of 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”, “Safe Harbor Statement” (Slide 3) and today’s press release for an explanation and reconciliation of these items. Reconciliation of Reported Net S

  22. Slide 22: Reconciliation of 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”, “Safe Harbor Statement” (Slide 3) and today’s press release for an explanation and reconciliation of these items. Reconciliation of Reported-Dilut

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