NYSE$WST
West Pharmaceutical Services Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
West Pharmaceutical Services reported a strong performance in Q1 2020, driven by strong sales growth in high-value products.
West Pharmaceutical Services announced its financial results for the first-quarter 2020. Net sales of $491.5 million grew 10.8%; organic sales growth was 12.7%. Reported-diluted EPS of $0.99 increased 36%. Adjusted-diluted EPS of $1.01 increased 36%. The Company is maintaining full-year 2020 net sales guidance and is updating full-year 2020 adjusted-diluted EPS guidance to a new range of $3.52 to $3.62, compared to a prior range of $3.45 to $3.55.
- Net sales increased by 10.8% to $491.5 million, with organic sales growth of 12.7%.
- Reported-diluted EPS increased 36% to $0.99.
- Adjusted-diluted EPS increased 36% to $1.01.
- Full-year 2020 net sales guidance is maintained, while adjusted-diluted EPS guidance is updated to $3.52 to $3.62.
Headline financials
Revenue & EPS history
West Pharma · Revenue · Quarterly
$492M
Revenue by segment
West Pharma · $492M total across 2 segments · Q1 2020
- Proprietary Products$374M+9.7%76.0%
- Contract-Manufactured Products$118M+14.5%24.0%
Forward guidance
Full-year 2020 net sales guidance continues to be in a range of $1.95 billion to $1.97 billion. Full-year 2020 adjusted-diluted EPS is expected to be in a range of $3.52 to $3.62.
Tailwinds
- Organic sales growth is expected to be approximately 8%.
- The revised guidance includes a $0.07 EPS impact from first-quarter tax benefits from stock-based compensation.
- Any tax benefits associated with stock-based compensation beyond those recorded in the first-quarter 2020 would provide a positive adjustment to our full-year EPS guidance.
- Net sales guidance continues to be in a range of $1.95 billion to $1.97 billion.
- Adjusted-diluted EPS is expected to be in a range of $3.52 to $3.62.
Headwinds
- Net sales guidance includes an estimated full-year headwind of $26 million for the full-year 2020 based on current foreign exchange rates.
- Full-year adjusted-diluted EPS guidance includes an estimated headwind of approximately $0.07 based on current foreign currency exchange rates.
- For the remainder of the year, our EPS guidance range assumes a tax rate of 24% and does not include potential tax benefits from stock-based compensation.
- The duration and severity of the global COVID-19 pandemic, including prevailing economic conditions and general uncertainties relating thereto that may be unknown and unforeseeable
- Other potential impacts from COVID-19, including interruptions or weaknesses in our supply chain, illness in our workforce and access to transport for our products
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+0.0%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+1.9%
Avg return
30 days after
51%
35 / 69 earnings
Positive
+14.9%
Q1 2020
Best reaction
-38.2%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.3% | +6.5% | +15.4% | |
| Q4 2025 | -1.0% | -1.2% | -4.3% | |
| Q3 2025 | +11.1% | +2.3% | -2.1% | |
| Q2 2025 | -0.0% | +0.3% | +3.0% | |
| Q1 2025 | -3.5% | -2.2% | -5.8% | |
| Q4 2024 | -38.2% | -34.5% | -28.6% | |
| Q3 2024 | +7.5% | +11.2% | +10.5% | |
| Q2 2024 | -12.0% | -7.5% | -6.5% | |
| Q1 2024 | -6.6% | -7.3% | -14.0% | |
| Q4 2023 | -11.3% | -14.2% | -5.0% | |
| Q3 2023 | -10.4% | -11.1% | -1.3% | |
| Q2 2023 | -3.7% | -2.0% | +3.8% | |
| Q1 2023 | +1.1% | +3.5% | -3.8% | |
| Q4 2022 | +12.4% | +9.9% | +18.1% | |
| Q3 2022 | -11.4% | -9.8% | -10.9% | |
| Q2 2022 | +7.2% | +5.8% | -5.2% | |
| Q1 2022 | -5.2% | -7.8% | -3.4% | |
| Q4 2021 | -2.6% | -2.7% | +9.3% | |
| Q3 2021 | +2.0% | +4.0% | +4.2% | |
| Q2 2021 | +7.2% | +9.9% | +16.4% | |
| Q1 2021 | +2.0% | +2.2% | +7.8% | |
| Q4 2020 | -4.2% | -6.7% | -5.7% | |
| Q3 2020 | -0.9% | +0.6% | +0.1% | |
| Q2 2020 | +2.9% | +3.5% | +6.3% | |
| Q1 2020 | +14.9% | +13.5% | +24.3% | |
| Q4 2019 | +7.6% | +6.8% | -9.9% | |
| Q3 2019 | +1.2% | +3.1% | +5.2% | |
| Q2 2019 | +12.0% | +12.4% | +17.2% | |
| Q1 2019 | +7.4% | +7.4% | +0.9% | |
| Q4 2018 | -3.7% | -4.0% | -2.0% | |
| Q3 2018 | -9.6% | -6.4% | -5.5% | |
| Q2 2018 | +10.0% | +10.0% | +17.2% | |
| Q1 2018 | +1.0% | -0.3% | +4.0% | |
| Q4 2017 | -8.0% | -5.7% | -4.3% | |
| Q3 2017 | +10.4% | +10.6% | +6.3% | |
| Q2 2017 | -3.4% | -5.3% | -7.8% | |
| Q1 2017 | +9.6% | +12.2% | +15.5% | |
| Q4 2016 | -4.4% | -4.0% | -4.9% | |
| Q3 2016 | +3.9% | +5.2% | +16.3% | |
| Q2 2016 | +2.4% | +3.0% | +4.0% | |
| Q1 2016 | -1.2% | — | — | |
| Q4 2015 | +4.1% | — | — | |
| Q3 2015 | +0.1% | — | — | |
| Q2 2015 | -1.2% | — | — | |
| Q1 2015 | -3.1% | — | — | |
| Q4 2014 | +2.7% | — | — | |
| Q3 2014 | +8.3% | — | — | |
| Q2 2014 | -0.1% | — | — | |
| Q1 2014 | +0.5% | — | — | |
| Q4 2013 | +0.8% | — | — | |
| Q3 2013 | +0.6% | — | — | |
| Q2 2013 | +3.4% | — | — | |
| Q1 2013 | +1.2% | — | — | |
| Q4 2012 | +3.3% | — | — | |
| Q3 2012 | -2.3% | — | — | |
| Q2 2012 | +2.6% | — | — | |
| Q1 2012 | +0.9% | — | — | |
| Q4 2011 | -2.1% | — | — | |
| Q3 2011 | +2.2% | — | — | |
| Q2 2011 | +2.1% | — | — | |
| Q1 2010 | -0.6% | — | — | |
| Q1 2011 | +1.4% | — | — | |
| Q4 2008 | -1.9% | — | — | |
| Q4 2010 | -1.9% | — | — | |
| Q3 2010 | -0.7% | — | — | |
| Q3 2009 | -0.7% | — | — | |
| Q2 2009 | -2.4% | — | — | |
| Q4 2009 | -2.4% | — | — | |
| Q2 2010 | -2.4% | — | — |
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