Overview

• Injectable solutions provider's Q1 net sales rose 21%, beating analyst expectations

• Adjusted EPS for Q1 up 47% and beat analyst expectations

• Company raised full-year 2026 revenue and adjusted EPS guidance after strong quarter

Outlook

• West Pharmaceutical raises full-year 2026 net sales guidance to $3.295 bln-$3.350 bln

• Company lifts full-year 2026 adj EPS guidance to $8.40-$8.75

• West Pharmaceutical expects Q2 2026 net sales of $830 mln-$850 mln, adj EPS of $2.05-$2.12

Result Drivers

• HVP COMPONENTS GROWTH - Organic revenue growth was driven by strong performance in High-Value Product Components, especially Westar and NovaPure products

• SELF-INJECTION DEVICES - Increased sales of self-injection device platforms, including Daikyo Crystal Zenith, contributed to growth in HVP Delivery Devices and West Vantage segments

• EUROPEAN PRODUCTION RAMP-UP - Company cited successful production ramp-up in Europe as a factor supporting revenue growth

Company press release: ID:nPn8vrq2fa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Net sales	Beat	$844.90 mln	$779.97 mln (11 Analysts)
Q1 Adjusted EPS	Beat	$2.13	$1.68 (13 Analysts)
Q1 EPS		$1.92

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

• Wall Street's median 12-month price target for West Pharmaceutical Services Inc is $320.00, about 16.6% above its April 22 closing price of $274.41

• The stock recently traded at 33 times the next 12-month earnings vs. a P/E of 35 three months ago

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