West Pharmaceutical Services Second Quarter 2024 Earnings: Misses Expectations

West Pharmaceutical Services (NYSE:WST) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$702.1m (down 6.9% from 2Q 2023).
• Net income: US$111.3m (down 28% from 2Q 2023).
• Profit margin: 16% (down from 21% in 2Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$1.53 (down from US$2.09 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

West Pharmaceutical Services Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 9.0%.

Looking ahead, revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Life Sciences industry in the US.

Performance of the American Life Sciences industry.

The company's shares are down 10% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We've done some analysis and you can see our take on West Pharmaceutical Services' balance sheet.

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