West Pharmaceutical said net sales for Q1 2024 declined $695.4 million, or 3.0%. Reported-diluted EPS fell $1.55, down 16.2%, and adjusted-diluted EPS fell $1.56, down 21.2%.

1. 01

   West Pharmaceutical said net sales for Q1 2024 declined $695.4 million, or 3.0%. Reported-diluted EPS fell $1.55, down 16.2%, and adjusted-diluted EPS fell $1.56, down 21.2%.

2. 02

   The company said net sales in the Proprietary Products segment fell 4.0% to $559.5 million, and that high-value products made up 72% of segment sales. Net sales in the Contract-Manufactured Products segment rose 1.8% to $135.9 million.

3. 03

   The company said operating cash flow for Q1 fell 14.4% to $118.2 million. Capital expenditures were $90.6 million, and free cash flow fell 50.7% to $27.6 million. During the quarter, it repurchased 729,679 shares for $267.0 million.

4. 04

   The company reaffirmed its full-year net sales guidance of $3.000 billion to $3.025 billion and raised its full-year adjusted-diluted EPS guidance to $7.63 to $7.88 from the prior $7.50 to $7.75, it said. The EPS guidance includes $0.15 in EPS from stock-based compensation tax benefits recorded in Q1.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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