EXTON, PA — West Pharmaceutical Services, Inc. (NYSE: WST) raised its full-year revenue and earnings guidance following a better-than-expected second quarter, driven by strong demand for high-value product components and improved customer ordering trends.
Net sales for Q2 2025 reached $766.5 million, up 9.2% from the same period last year, with organic growth at 6.8%. Adjusted diluted earnings per share climbed to $1.84, compared to $1.52 in the prior year. The company credited improved product mix and favorable foreign exchange as key contributors to its margin expansion.
CEO Eric M. Green highlighted strong growth in elastomer components tied to GLP-1 therapies and increased adoption of West’s premium packaging solutions. “We exceeded our expectations for the second quarter,” said Green, noting progress in Annex 1 compliance projects and broader normalization in purchasing behaviors.
The company’s Proprietary Products segment, which accounts for the bulk of revenue, posted $619.8 million in sales—up 10.7%, or 8.4% organically. High-value components, including Westar® and NovaChoice®, rose 11.3% and now represent nearly half of total company sales. Delivery devices such as Daikyo Crystal Zenith® grew 30% amid rising demand from the biologics and injectable drug sectors.
Meanwhile, the Contract-Manufactured Products segment generated $146.7 million in revenue, a modest 3% increase, led by self-injection devices for diabetes and obesity. That growth was partially offset by weaker sales of diagnostic devices.
Operationally, West reported $306.5 million in cash flow from operations for the first half of 2025, up 8.2% year-over-year. Free cash flow improved to $160 million, reflecting reduced capital expenditures. The company also repurchased over half a million shares for $134 million, at an average price of $242.55.
In light of Q2 performance, West revised its full-year 2025 guidance. Revenue is now projected between $3.04 billion and $3.06 billion, up from earlier expectations of $2.945 billion to $2.975 billion. Adjusted EPS guidance was raised to a range of $6.65 to $6.85, from a prior estimate of $6.15 to $6.35. Currency tailwinds and continued strength in higher-margin offerings are expected to support these gains.
The board also declared a fourth-quarter dividend of $0.22 per share, payable November 19 to shareholders of record as of November 12.
West reaffirmed its capital spending target of $275 million for the full year as it continues to invest in capacity and technology to support future growth.
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