West Pharmaceutical Services, Inc. · NYSE:WST
West Pharmaceutical Services — Q3 2020 Earnings Presentation
20 slides from West Pharmaceutical Services's earnings presentation, Oct 22, 2020
Slide 1: Third-Quarter 2020 Results
Third-Quarter 2020 Results Overall Net Sales OVERALL ORGANIC SALES GROWTH $548M | 20.1% Proprietary Products Q3 2020 organic sales Q3 growth of 20.3%, led by sales of high-value 18.2% Diluted Earnings Per Share: $1.09 | 45% products, which grew double digits Adjusted Diluted Earnings Per Share: $1.1
Slide 2: Third-Quarter 2020 Analyst Conference Call
West Pharmaceutical Services, Inc. Third-Quarter 2020 Analyst Conference Call 9 a.m. Eastern Time, October 22, 2020 Eric M. Green Bernard J. Birkett President and Senior Vice President and Chief Executive Officer Chief Financial Officer A webcast of today’s call can be accessed in the “Investors” se
Slide 3: 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 4: Helping our 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. PASSION FOR CUSTOMERS LEADERSHIP IN QUALITY ONE WEST TEAM 4 WST Q3 2020 Earnings
Slide 5: COVID-19 has Introduced New Demands
COVID-19 has Introduced New Demands 1 Speed of development 2 Localization vs Globalization 3 Increased home treatment and diagnostics 5 WST Q3 2020 Earnings
Slide 6: West is Well Positioned for Growing Requirements
West is Well Positioned for Growing Requirements Scientific & Technical Automation Digital Acceleration Expertise 6 WST Q3 2020 Earnings
Slide 7: Third-Quarter 2020 Results
Third-Quarter 2020 Results . Q3 2020 net sales of $548 million grew 20.1%; organic sales growth was 18.2% . Q3 2020 reported-diluted EPS of $1.09 increased 45%; adjusted- diluted EPS of $1.15 increased 46% . Company is raising full-year 2020 net sales guidance to a new range of between $2.10 billion
Slide 8: Third-Quarter 2020 Summary Results
Third-Quarter 2020 Summary Results ($ millions, except earnings-per-share (EPS) data) Three Months Ended September 30 2020 2019 Reported Net Sales $548.0 $456.1 Gross Profit Margin 35.5% 32.4% Reported Operating Profit $99.2 $67.3 Adjusted Operating Profit (1) $103.9 $70.1 Reported Operating Profit
Slide 9: Third-Quarter 2020 Organic Sales Growth
Third-Quarter 2020 Organic Sales Growth Q3 OVERALL ORGANIC SALES GROWTH Proprietary Products Q3 2020 organic sales growth of 20.3%, 18.2% led by sales of high-value products, which grew double digits CONTRACT BIOLOGICS GENERICS PHARMA MANUFACTURING Sales led by high-value products, Sales led by high
Slide 10: Change in Consolidated Net Sales
Change in Consolidated Net Sales Third-quarter 2019 to 2020 ($ millions) 10 WST Q3 2020 Earnings
Slide 11: Gross Profit Update
Gross Profit Update ($ millions) Three Months Ended September 30, 2020 2019 Proprietary Products Gross Profit $171.9 $131.8 Proprietary Products Gross Profit Margin 40.8% 38.2% Contract-Manufactured Products Gross Profit $22.7 $16.0 Contract-Manufactured Products Gross Profit Margin 17.9% 14.4% Cons
Slide 12: Cash Flow and Balance Sheet Metrics
Cash Flow and Balance Sheet Metrics ($ millions) Cash Flow Items Financial Condition YTD YTD September 30, December 31, Q3 2020 Q3 2019 2020 2019 Depreciation and Amortization $80.6 $77.1 Cash and Cash Equivalents $519.4 $439.1 Operating Cash Flow $323.8 $260.8 Debt $255.7 $257.3 Capital Expenditure
Slide 13: 2020 Full-Year Guidance
2020 Full-Year Guidance 2020 Full-Year Guidance (1,2) Consolidated Net Sales $2.10 - $2.11 billion Adjusted-Diluted EPS $4.50 - $4.55 (1) Please refer to “Notes to Non-U.S. GAAP Financial Measures” on slides 16-20 and the discussion under the heading “Non-U.S. GAAP Financial Measures” in today’s pre
Slide 14: Our People, Our Purpose: Resolute in Our Commitment
Our Our WE People Purpose Slide RemainTitle Resolute in Our Commitment 14 | 2020 Annual Shareholders Meeting WST Q3 2020 Earnings
Slide 15: Q & A
Eric M. Green Bernard J. Birkett Quintin Lai President and Senior Vice President and VP, Corporate Development, Chief Executive Officer Chief Financial Officer Strategy & Investor Relations Q & A 15 WST Q3 2020 Earnings
Slide 16: 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 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
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 and A
Slide 19: 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”, “Safe Harbor Statement” (Slide 3) and today’s press release for an explanation and reconciliation of these items. Reconciliation of Net Sales to O
Slide 20: Reconciliation of Diluted EPS Guidance
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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