First-Quarter 2021
First Quarter Overall Net Sales
"We delivered another solid
OVERALL ORGANIC SALES GROWTH
$670.7M | 36.5%
performance in the first-quarter with strong organic sales growth coming
Proprietary Products Q1 2021 organic sales
Q1
Diluted Earnings Per Share: $1.99 | 101%
Adjusted Diluted Earnings Per Share: $2.05|103%
from both our base business as well as increased demand for our products associated with COVID-19 vaccines.
growth of 39.6%, led by sales of high-value31.1% products, which grew double digits
I am proud of the relentless focus and consistent execution of our global team members to deliver critical components and solutions during these times. With a strong start to the year, we are raising our full-year financial guidance. West will continue to play an integral role with our customers as they develop and bring new medicines to the market for a brighter future."
Eric M. Green
President and Chief Executive Officer
West Pharmaceutical Services, Inc.
Cautionary Statement Under the Private Securities Litigation Reform Act of 1995
BIOLOGICSDD
GENERICSDD
PHARMADD
CONTRACT MANUFACTURING | MSD |
Abbreviations: LSD - low-single digit; MSD - mid-single digit; HSD - high-single digit; DD - double digit
This presentation and any accompanying management commentary contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about product development and operational performance. Each of these statements is based on preliminary information, and actual results could differ from any preliminary estimates. We caution investors that the risk factors listed under "Cautionary Statement" in our press releases, as well as those set forth under the caption "Risk Factors" in our most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission and as revised or supplemented by our quarterly reports on Form 10-Q, could cause our actual results to differ materially from those estimated or predicted in the forward-looking statements. You should evaluate any statement in light of these important factors. Except as required by law or regulation, we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise.
Non-U.S. GAAP Financial Measures
Certain financial measures included in these presentation materials, or which may be referred to in management's discussion of the Company's results and outlook, have not been calculated in accordance with U.S. generally accepted accounting principles ("U.S. GAAP"), and therefore are referred to as non- U.S. GAAP financial measures. Non-U.S. GAAP financial measures should not be considered in isolation or as an alternative to such measures determined in accordance with U.S. GAAP. Please refer to "Reconciliation of Non-U.S. GAAP Financial Measures" at the end of these materials for more information.
WST Q1 2021 Earnings | 1 |
West Pharmaceutical
Services, Inc.
Eric M. Green
President & CEO
Bernard J. Birkett
Senior Vice President & CFO
First-Quarter Results 2021 Analyst Conference Call 9 a.m. Eastern Time | April 29, 2021
A webcast of today's call can be accessed in the "Investors" section of the Company's website: www.westpharma.com
West Analyst Conference Call
9 a.m. Eastern Time April 29, 2021
To participate on the call, please dial:
An online archive of the broadcast will be available at the website three hours after the live call and will be available through Thursday, May 6, 2021 by dialing:
877-930-8295 (U.S.)
253-336-8738 (International) The conference ID is 4285757
855-859-2056 (U.S.)
404-537-3406 (International) The conference ID is 4285757
These presentation materials are intended to accompany today's press release announcing the Company's results for the first quarter 2021 and management's discussion of those results during today's conference call.
WST Q1 2021 Earnings | 3 |
Safe Harbor Statement
Cautionary Statement Under the Private Securities Litigation Reform Act of 1995
This presentation and any accompanying management commentary contain "forward- looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about product development and operational performance. Each of these statements is based on preliminary information, and actual results could differ from any preliminary estimates.
We caution investors that the risk factors listed under "Cautionary Statement" in our press releases, as well as those set forth under the caption "Risk Factors" in our most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission and as revised or supplemented by our quarterly reports on Form 10-Q, could cause our actual results to differ materially from those estimated or predicted in the forward-looking statements. You should evaluate any statement in light of these important factors. Except as required by law or regulation, we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise.
Non-U.S. GAAP Financial Measures
Certain financial measures included in these presentation materials, or which may be referred
to in management's discussion of the Company's
results and outlook, have not been calculated in accordance with U.S. generally accepted accounting principles ("U.S. GAAP"), and therefore are referred to as non-U.S. GAAP financial measures. Non-U.S. GAAP financial measures should not be considered in isolation or as an alternative to such measures determined in accordance with U.S. GAAP. Please refer to
"Reconciliation of Non-U.S. GAAP Financial Measures" at the end of these materials for more information.
Trademarks
Registered trademarks used in this report are the property of West Pharmaceutical Services, Inc. or its subsidiaries, in the United States and other jurisdictions, unless noted otherwise. Daikyo Crystal Zenith® and Daikyo® are registered trademarks of Daikyo Seiko, Ltd.
WST Q1 2021 Earnings | 4 |
Financial Results
- First quarter 2021 net sales of $670.7 million grew 36.5%; organic sales growth was 31.1%
- First quarter 2021 reported-diluted EPS of $1.99 increased 101%; adjusted- diluted EPS of $2.05 increased 103%
WST Q1 2021 Earnings | 5 |
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West Pharmaceutical Services Inc. published this content on 29 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2021 11:35:01 UTC.