West Pharmaceutical Services, Inc.


SKU: WST Category:


West Pharmaceutical Services Inc. delivered a mixed set of results for the previous quarter, with revenues well below analyst expectations but managed earnings beat. The third quarter saw impressive organic net sales growth despite a significant year-over-year decline in COVID-19-related sales. The company’s net sales amounted to $747.4 million, indicating a 5.7% increase in organic sales. The net revenues associated with COVID-19 are projected to have reached roughly $18 million during the quarter, indicating a decrease of $78 million compared to the previous year’s corresponding period. Notably, the Enterprise and the Proprietary Products segment achieved base organic sales growth exceeding 20%. The demand for specific components and devices remained robust in the Proprietary Products segment, driven by customers accelerating their drug replenishment orders. The company also benefited from accelerated growth from restocking particular components, particularly in certain market units. However, as the quarter progressed, specific large customers started managing their safety stocks, which led West Pharmaceutical Services to adjust its organic sales growth for the upcoming quarter.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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