West Pharmaceutical Services, Inc. · NYSE:WST
West Pharmaceutical Services — Q1 2026 Earnings Presentation
19 slides from West Pharmaceutical Services's earnings presentation, Apr 23, 2026
Slide 1: West Pharmaceutical Services, Inc. First-Quarter 2026 Earnings Call
West Pharmaceutical Services, Inc. Eric M. Green President, CEO & Chair of the Board Bob W. McMahon Senior Vice President & Chief Financial Officer First-Quarter 2026 Earnings Call April 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 Conference Call To participate on the call by asking questions to Registered telephone 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 commentary contain forward-looking statements within the with U.S. generally accepted accounting principles (“U.S. meaning of the Priv
Slide 4: 1Q26 Financial Highlights
1Q26 Financial Highlights • Net sales $844.9M, +21.0% & Net Sales $M Adj. OP Margin Adj.-Diluted EPS +15.3% organic(1) +21.0% Reported • Gross margin 35.1%, +190 bps YoY +350 bps YoY +46.9% YoY +15.3% Organic (1) • Adjusted operating profit margin(1) $844.9 21.4%, +350 bps vs. 1Q25 21.4% $2.13 • Ad
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 (HVP) upgrade opp
Slide 6: Proprietary Products Segment
1Q26 results Proprietary Products Segment Proprietary Products Revenues $M HVP Components HVP Delivery Devices Standard Components $694.3 $563.0 Net sales $409.3M Net sales $123.6M Net sales $161.4M 1Q25 1Q26 48% of total sales 15% of total sales 19% of total sales +29.6% reported +29.0% r
Slide 7: West Vantage Segment
1Q26 results West Vantage Segment West Vantage Revenues $M 1Q26 Performance $150.6 Net sales $150.6M, 18% of total sales, +11.6% reported, +6.2% organic $135.0 • Rebranded our Contract Manufacturing business segment to West Vantage 1Q25 1Q26 • Celebrated the official opening at our new Dublin West
Slide 8: Strategically Diversified Platform with Global Reach
Strategically Diversified Platform with Global Reach 1Q26 Net Sales1 by 1Q26 Net Sales1 by 1Q26 Net Sales1 by Market Group Product Category Geographic Location West Vantage West Vantage Asia Products2 Products2 Pacific 18% 18% 8% 15% HVP 25% Delivery Pharma Devices 45% 42% 48% Americas Biologics HVP
Slide 9: 1Q26 Revenue by Market Group
Share of Total 1Q26 YoY % Currency % Organic % Company Revenues chg. Revenue Biologics $354.5 31.6% 5.7% 25.9% 42% 1Q26 Revenue Pharma $210.6 16.6% 6.8% 9.8% 25% by Generics $129.2 14.2% 4.4% 9.8% 15% Market Proprietary $694.3 23.3% 5.8% 17.5% 82% Group Prod. Segment West Vantage Segment $150.6 11.6
Slide 10: 1Q26 Revenue by Product Category
Share of Total 1Q26 YoY % Currency % Organic % Company Revenues chg. Revenue HVP Components $409.3 29.6% 7.0% 22.6% 48% 1Q26 HVP Delivery $123.6 29.0% 1.5% 27.5% 15% Revenue by Devices Product Standard Products $161.4 6.7% 6.2% 0.5% 19% Category Proprietary Prod. Segment $694.3 23.3% 5.8% 17.5% 82%
Slide 11: 1Q26 Revenue by Geography
Share of Total 1Q26 YoY % Currency % Organic % Company Revenues chg. Revenue 1Q26 Americas $377.3 11.3% 0.5% 10.8% 45% Revenue by Europe, Middle East, $399.4 30.1% 12.2% 17.9% 47% Geography Africa Asia Pacific $68.2 30.7% 1.4% 29.3% 8% Total Company $844.9 21.0% 5.7% 15.3% 100% 11
Slide 12: Change in Consolidated Net Sales 1Q25 vs. 1Q26
Change in Consolidated Net Sales 1Q25 vs. 1Q26 ($ millions) $40.0 $844.9 $82.7 $24.2 $698.0 1Q25 CY Sales Price Volume & Mix Fx. Translation 1Q26 12
Slide 13: 2026 / 2Q26 Guidance Overview
2026 / 2Q26 Guidance Overview 2Q 2026 Guidance 2026 Annual Guidance Low High Low High Revenue $830M to $850M $3.295B to $3.350B Fx. YoY Revenue Impact ~+1.3% points ~+2% points Divestiture Impact* No impact ~-2% points Organic Revenue Growth % 7.0% to 9.6% 7% to 9% Adjusted EPS $2.05 to $2.12 $8.40
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: 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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