EXTON, PA — West Pharmaceutical Services Inc. (NYSE: WST) raised its full-year sales and earnings guidance after second-quarter revenue increased 13.8%, driven by demand for high-value components used in biologics, GLP-1 products and injectable drug delivery systems.
The Exton-based company reported net sales of $872.3 million, up from the prior-year period, while organic sales increased 12.7%.
Diluted earnings rose 18.1% to $2.15 per share. Adjusted diluted earnings increased 28.8% to $2.37 per share.
West increased its full-year net sales forecast to a range of $3.345 billion to $3.38 billion from its previous range of $3.295 billion to $3.35 billion.
The revised outlook implies reported sales growth of 8.8% to 10% and organic growth of 10% to 11%. The company expects foreign exchange rates to add approximately one percentage point to full-year sales growth.
Adjusted diluted earnings guidance rose to a range of $8.85 to $9.05 per share from $8.40 to $8.75.
President, Chief Executive Officer and Board Chair Eric M. Green attributed the increase to stronger-than-expected sales and earnings during the quarter.
“Net sales increased 12.7% organically, driven by our High Value Product Components business, which benefited from continued strength in Biologics, a favorable mix shift from HVP upgrades including Annex 1, and ongoing growth in GLP-1 elastomers,” Green stated.
West’s Proprietary Products segment generated $722.6 million in sales, an increase of 16.6% on a reported basis and 15.5% organically.
High-Value Product Components sales rose 19.4% to $424.1 million and accounted for 49% of company revenue. Organic growth in the business was 18.4%.
High-Value Product Delivery Devices sales increased 29.6% to $131.2 million, representing 15% of total sales. Organic growth was 29.2%.
Standard Products sales rose 2.4% to $167.3 million, including organic growth of 0.7%. The business accounted for 19% of company revenue.
West Vantage sales increased 2% to $149.7 million and rose 0.8% organically. The segment generated 17% of total company sales.
The company projected third-quarter sales of $820 million to $835 million, representing reported growth of 1.9% to 3.8% and organic growth of 7% to 8.9%.
Third-quarter adjusted diluted earnings are expected to range from $2.14 to $2.24 per share. Foreign exchange rates are projected to reduce quarterly sales growth by approximately one percentage point.
West excluded SmartDose 3.5mL sales from its organic growth calculations because the product generated $55 million in the second half of 2025, including $30 million during the third quarter.
Operating cash flow totaled $213.9 million during the second quarter. Capital expenditures were $85.9 million, resulting in free cash flow of $128 million.
Capital spending guidance remained unchanged at $250 million to $275 million for the year.
West repurchased 1.8 million shares during the first six months of 2026 for $454.3 million, paying an average of $258.03 per share.
The company’s board also declared a third-quarter dividend of $0.22 per share on July 21.
Support the local news that supports Chester County. MyChesCo delivers reliable, fact-based reporting and essential community resources—free for everyone. If you value that, click here to become a patron today.