West Pharmaceutical Services, Inc. · NYSE:WST
West Pharmaceutical Services — Q2 2026 Earnings Presentation
22 slides from West Pharmaceutical Services's earnings presentation, Jul 23, 2026
Slide 1: West Pharmaceutical Services, Inc. Second-Quarter 2026 Earnings Call
West Pharmaceutical Services, Inc. Eric M. Green President & CEO, Chair of the Board Bob W. McMahon Senior VP & Chief Financial Officer Second-Quarter 2026 Earnings Call July 23, 2026 | 8 a.m. Eastern Time
Slide 2: West Analyst Conference Call
A webcast of today’s call can be accessed in the “Investors” section of the Company’s website at www.investor.westpharma.com. West Analyst Registered telephone Conference Call To participate on the call by asking questions to participants will receive the Management, please register in advance by cl
Slide 3: Forward-Looking Statements, Non-U.S. GAAP Financial Measures, Trademarks
Forward-Looking Statements Non-U.S. GAAP Financial Measures This presentation and any accompanying management The Company reports its financial results in accordance with commentary contain forward-looking statements within the U.S. generally accepted accounting principles (“U.S. GAAP”). meaning of
Slide 4: Q2 26 Financial Highlights
Q2 26 Financial Highlights • Net sales $872.3M, +13.8% & Net Sales $M Adj. OP Margin Adj.-Diluted EPS +12.7% organic(1) +13.8% Reported • Gross margin 37.7%, +200 bps YoY +230 bps YoY +28.8% YoY +12.7% Organic (1) • Adjusted operating profit margin(1) $2.37 22.6% 22.6%, +230 bps vs. 2Q25 $872.3 • A
Slide 5: Capitalizing on Key Growth Drivers Across Our Business
Capitalizing on Key Growth Drivers Across Our Business Biologics Annex 1 GLP-1 Capacity Expansion Driver Focused on HVP processing Expanding market – driving High- Global regulatory framework Fastest growing category, multi-year capabilities driving favorable returns Value Products upgrade opportuni
Slide 6: Proprietary Products Segment
Q2 26 results Proprietary Products Segment Proprietary Products Revenues $M HVP Components HVP Delivery Devices Standard Components $722.6 $619.8 Net sales $424.1M Net sales $131.2M Net sales $167.3M Q2 25 Q2 26 49% of total sales 15% of total sales 19% of total sales +19.4% reported +29.6
Slide 7: West Vantage Segment
Q2 26 results West Vantage Segment West Vantage Revenues $M Q2 26 Performance $149.7 Net sales $149.7M, 17% of total sales, +2.0% reported, +0.8% organic $146.7 • West Vantage was up one percent organically in Q2 26 Q2 25 Q2 26 • Gross margins came in below our expectations, due to the impact of th
Slide 8: Strategically Diversified Platform with Global Reach
Strategically Diversified Platform with Global Reach Q2 26 Net Sales1 by Q2 26 Net Sales1 by Q2 26 Net Sales1 by Market Group Product Category Geographic Location West Vantage West Vantage Asia Products2 Products2 Pacific 17% 17% 10% 15% HVP 24% Delivery Pharma Devices 44% 43% 49% Americas Biologics
Slide 9: Q2 26 Revenue by Market Group
Share of Total Q2 26 YoY % Currency % Organic % Company Revenues chg. Revenue Biologics $374.8 30.3% 1.1% 29.2% 43% Q2 26 Revenue Pharma $205.0 3.3% 1.7% 1.6% 24% by Generics $142.8 6.9% 0.2% 6.7% 16% Market Proprietary $722.6 16.6% 1.1% 15.5% 83% Group Prod. Segment West Vantage Segment $149.7 2.0%
Slide 10: Q2 26 Revenue by Product Category
Share of Total Q2 26 YoY % Currency % Organic % Company Revenues chg. Revenue HVP Components $424.1 19.4% 1.0% 18.4% 49% Q2 26 HVP Delivery $131.2 29.6% 0.4% 29.2% 15% Revenue by Devices Product Standard Products $167.3 2.4% 1.7% 0.7% 19% Category Proprietary Prod. Segment $722.6 16.6% 1.1% 15.5% 83
Slide 11: Q2 26 Revenue by Geography
Share of Total Q2 26 YoY % Currency % Organic % Company Revenues chg. Revenue Q2 26 Americas $388.7 11.2% 0.6% 10.6% 44% Revenue by Europe, Middle East, $399.8 14.3% 2.2% 12.1% 46% Africa Geography Asia Pacific $83.8 24.9% -2.1% 27.0% 10% Total Company $872.3 13.8% 1.1% 12.7% 100% 11
Slide 12: Change in Consolidated Net Sales Q2 25 vs. Q2 26
Change in Consolidated Net Sales Q2 25 vs. Q2 26 ($ millions) $8.5 $872.3 $67.0 $30.3 $766.5 Q2 25 CY Sales Price Volume & Mix Fx. Translation Q2 26 12
Slide 13: 2026 / Q3 Guidance Overview
2026 / Q3 26 Guidance Overview Q3 2026 Guidance 2026 Annual Guidance Low High Low High Revenue $820M to $835M $3.345B to $3.380B Fx. YoY Revenue Impact ~-1.1% points ~+1% points Divestiture Impact* ~-4.0% points ~-2% points Organic Revenue Growth % 7.0% to 8.9% 10.0% to 11.0% Adjusted EPS $2.14 to $
Slide 14: Investor Relations contact
Investor Relations contact: https://investor.westpharma.com /contact-investor-relations www.westpharma.com
Slide 15: Reconciliation of Non-U.S. GAAP Financial Measures (unaudited)
Reconciliation of Non-U.S. GAAP Financial Measures (unaudited) See the accompanying disclosure under the heading “Non-U.S. GAAP Financial Measures” in this presentation and today's press release for an explanation of non-U.S. GAAP financial measures and the corresponding reconciliation tables that a
Slide 16: Reconciliation of Non-U.S. GAAP Financial Measures (unaudited)
Reconciliation of Non-U.S. GAAP Financial Measures (unaudited) See the accompanying disclosure under the heading “Non-U.S. GAAP Financial Measures” in this presentation and today's press release for an explanation of non-U.S. GAAP financial measures and the corresponding reconciliation tables that a
Slide 17: Reconciliation of Non-U.S. GAAP Financial Measures (unaudited)
Reconciliation of Non-U.S. GAAP Financial Measures (unaudited) See the accompanying disclosure under the heading “Non-U.S. GAAP Financial Measures” in this presentation and today's press release for an explanation of non-U.S. GAAP financial measures and the corresponding reconciliation tables that a
Slide 18: Reconciliation of Non-U.S. GAAP Financial Measures (unaudited)
Reconciliation of Non-U.S. GAAP Financial Measures (unaudited) See the accompanying disclosure under the heading “Non-U.S. GAAP Financial Measures” in this presentation and today's press release for an explanation of non-U.S. GAAP financial measures and the corresponding reconciliation tables that a
Slide 19: Reconciliation of Non-U.S. GAAP Financial Measures (unaudited)
Reconciliation of Non-U.S. GAAP Financial Measures (unaudited) See the accompanying disclosure under the heading “Non-U.S. GAAP Financial Measures” in this presentation and today's press release for an explanation of non-U.S. GAAP financial measures and the corresponding reconciliation tables that a
Slide 20: Reconciliation of Non-U.S. GAAP Financial Measures (unaudited)
Reconciliation of Non-U.S. GAAP Financial Measures (unaudited) See the accompanying disclosure under the heading “Non-U.S. GAAP Financial Measures” in this presentation and today's press release for an explanation of non-U.S. GAAP financial measures and the corresponding reconciliation tables that a
Slide 21: Reconciliation of Non-U.S. GAAP Financial Measures (unaudited)
Reconciliation of Non-U.S. GAAP Financial Measures (unaudited) See the accompanying disclosure under the heading “Non-U.S. GAAP Financial Measures” in this presentation and today's press release for an explanation of non-U.S. GAAP financial measures and the corresponding reconciliation tables that a
Slide 22: Free Cash Flow Reconciliation
Reconciliation of Non-U.S. GAAP Financial Measures (unaudited) See the accompanying disclosure under the heading “Non-U.S. GAAP Financial Measures” in this presentation and today's press release for an explanation of non-U.S. GAAP financial measures and the corresponding reconciliation tables that a
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