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West Pharma (WST) Tops Q2 EPS by 2c

July 30, 2015 7:14 AM

West Pharma (NYSE: WST) reported Q2 EPS of $0.47, $0.02 better than the analyst estimate of $0.45. Revenue for the quarter came in at $359.7 million versus the consensus estimate of $356.33 million.

West Pharma sees FY2015 EPS of $1.74-$1.84, versus the consensus of $1.80.

"I am pleased to report that we are executing against our strategy and delivered strong financial results," said Eric M. Green, West's Chief Executive Officer. "Excluding currency, second-quarter adjusted diluted EPS would have improved upon the 2014 quarter, which was our best ever. The $0.92 of six-month adjusted diluted EPS is a first-half record, despite that currency headwind.

"Pharmaceutical Packaging Systems' strong constant-currency growth of 8.5% demonstrates the benefits of our high-value products strategy. Sales increased on uptake of newer high-value components, notably under the Envision" and NovaPure brands, along with continuing growth for our Westar product lines, including elastomer components and metal seals. Our pharma and biotech customers are increasingly embracing the value proposition for these products, which enable more efficient production of safe and effective injectable medicines for patients.

"Pharmaceutical Delivery Systems' constant currency sales growth was led by 9.3% growth in proprietary products. Developments involving Daikyo Crystal Zenith, SmartDose electronic wearable injector and SelfDose products include the recent approval and recommended approval of two drug products in CZ vials. We recently announced our plans to complete an expansion of our SmartDose capacity in Arizona and to provide supply-chain risk mitigation.

"In summary, our 7,000 colleagues around the world delivered a solid first half, which contributed to our confidence in raising our sales and adjusted diluted EPS guidance ranges for the year."

For earnings history and earnings-related data on West Pharma (WST) click here.

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