West Pharmaceutical Services, Inc. · NYSE:WST
West Pharmaceutical Services — Q1 2020 Earnings Presentation
16 slides from West Pharmaceutical Services's earnings presentation, Apr 23, 2020
Slide 1: First-Quarter 2020 Analyst Conference Call
West Pharmaceutical Services, Inc. First-Quarter 2020 Analyst Conference Call 9 a.m. Eastern Time, April 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: Unwavering Commitment to Our Mission
Unwavering Commitment to Our Mission Our Mission To contain and deliver injectable therapies that improve patient lives. 3 WST Q1 2020 Earnings
Slide 4: Our Focus in Uncertain Times
Our Focus in Uncertain Times 4 WST Q1 2020 Earnings
Slide 5: 2020 First-Quarter Results
2020 First-Quarter Results • Q1 2020 net sales of $491.5 million grew 10.8%; organic sales growth was 12.7% • Q1 2020 reported-diluted EPS of $0.99 increased 36%; adjusted-diluted EPS of $1.01 increased 36% • Company maintaining full-year 2020 net sales guidance and updating full-year 2020 adjusted-
Slide 6: Q1 2020 Organic Sales Growth
Q1 2020 Organic Sales Growth Q1 2020 Overall Organic Proprietary Products Q1 2020 organic sales growth of 11.8%, led by 12.7% Sales Growth sales of high-value products, which grew double digits Sales led by high-value products, including Daikyo Crystal Zenith® Biologics DD syringes and cartridges, D
Slide 7: First-Quarter 2020 Summary Results
First-Quarter 2020 Summary Results ($ millions, except earnings-per-share (EPS) data) Three Months Ended March 31 2020 2019 Reported Net Sales $491.5 $443.5 Gross Profit Margin 34.0% 33.1% Reported Operating Profit $88.0 $70.7 Adjusted Operating Profit (1) $88.0 $71.3 Reported Operating Profit Margi
Slide 8: Change in Consolidated Net Sales
Change in Consolidated Net Sales First-quarter 2019 to 2020 ($ millions) 8 WST Q1 2020 Earnings
Slide 9: Gross Profit Update
Gross Profit Update ($ millions) Three Months Ended March 31, 2020 2019 Proprietary Products Gross Profit $150.1 $132.2 Proprietary Products Gross Profit Margin 40.2% 38.9% Contract-Manufactured Products Gross Profit $16.9 $14.5 Contract-Manufactured Products Gross Profit Margin 14.3% 14.0% Consolid
Slide 10: Cash Flow and Balance Sheet Metrics
Cash Flow and Balance Sheet Metrics ($ millions) Cash Flow Items Financial Condition YTD YTD March 31, December 31, Q1 2020 Q1 2019 2020 2019 Depreciation and Amortization $26.0 $25.5 Cash and Cash Equivalents $335.3 $439.1 Operating Cash Flow $57.1 $47.6 Debt $256.7 $257.3 Capital Expenditures $32.
Slide 11: 2020 Full-Year Guidance
2020 Full-Year Guidance 2020 Full-Year Guidance (1,2) Consolidated Net Sales $1.95 - $1.97 billion Adjusted-Diluted EPS $3.52 - $3.62 (1) Please refer to “Notes to Non-U.S. GAAP Financial Measures” on slides 13-16 and the discussion under the heading “Non-U.S. GAAP Financial Measures” in today’s pre
Slide 12: Our Commitment and Look Forward
Our Commitment and Look Forward 12 WST Q1 2020 Earnings
Slide 13: Notes on Non-U.S. GAAP 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: 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” (Slides 13-16), “Cautionary Statement” (Slide 2) and today’s press release for an explanation and reconciliation of these items. Reconciliation of
Slide 15: Reconciliation of Net Sales to Organic Net Sales
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 13-16), “Cautionary Statement” (Slide 2) and today’s press release for an explanation and reconciliation of these items. Reconciliation of
Slide 16: Reconciliation of Reported-Diluted EPS Guidance to Adjusted
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 13-16), “Cautionary Statement” (Slide 2) and today’s press release for an explanation and reconciliation of these items. Reconciliation of
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