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West Pharmaceutical Services WST Q2 2026 earnings

Reported July 23, 2026 · Before market open

Revenue$872.3MBeat by $32.3M
Adjusted EPS$2.37Beat by $0.29
Revenue estimate$840.0M
EPS estimate$2.08
“I am pleased to report strong second-quarter results, with net sales and adjusted EPS exceeding our expectations. 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. The robust sales growth drove strong operating income margin expansion as compared to prior year. As a result of our team's strong execution in the second quarter and improved outlook, we are increasing our full-year 2026 guidance.”
Eric M. Green

Next report

Oct 22, 2026 (in 2 months)
Revenue estimate$825.9M
EPS estimate$2.18

Financials

Q2 2026

Income statement

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Revenue$872.3M+13.8%
Gross profit$329.2M+20.2%
Operating income$179.1M+16.5%
Net income$154.0M+16.8%
EPS (diluted)$2.15+18.1%

Balance sheet

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Cash & equivalents$435.8M-14.5%
Total debt$316.5M+2.7%
Total equity$3.0B+2.1%
Total assets$4.1B+3.1%

Cash flow

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Operating cash flow$124.0M-30.0%
CapEx$43.2M-42.6%
Free cash flow$80.8M-20.7%

Valuation & ratios

Valuation

as of 08/27/26
See full
Market cap$24.63B+39.2%
Enterprise value$24.51B+40.2%
P/E43.6×+7.3×
P/S7.4×+1.4×

Profitability

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Gross margin36.8%+1.5pp
Operating margin20.5%+0.8pp
Net margin17%+0.5pp
FCF margin13.1%+1.5pp

Returns & leverage

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Return on equity19.1%+1.4pp
Debt / equity0.1×0.0×
Current ratio2.8×0.0×

Segments

By segment

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Proprietary Products$722.6M+16.6%
West Vantage$149.7M+2.0%

FAQ

When did West Pharmaceutical Services report Q2 2026 earnings?
West Pharmaceutical Services (WST) reported Q2 2026 earnings on July 23, 2026 before market open.
What were West Pharmaceutical Services's Q2 2026 revenue and EPS?
West Pharmaceutical Services reported revenue of $872.3M and adjusted eps of $2.37 for Q2 2026.
Did West Pharmaceutical Services beat estimates in Q2 2026?
Revenue beat the consensus estimate of $840.0M by $32.3M. EPS beat the consensus estimate of $2.08 by $0.29.
How did West Pharmaceutical Services's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 13.8% from $766.2M a year earlier.
Where can I find West Pharmaceutical Services's Q2 2026 SEC filings?
You can read the 8-K earnings release (0000105770-26-000097) and the 10-Q periodic report (0000105770-26-000099) directly on SEC EDGAR. The filing index links above go to sec.gov.