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Mar 31
West Pharma Q1 2025 Earnings Report
West Pharma reported Q1 2025 results with revenue and adjusted EPS slightly down year-over-year but exceeding guidance.
Key Takeaways
West delivered solid Q1 2025 results with net sales growth and higher-than-expected EPS, supported by strength in self-injection device platforms and improved free cash flow.
Net sales reached $698 million, a 0.4% increase YoY.
Adjusted EPS was $1.45, exceeding internal guidance.
Operating cash flow rose 9.5% YoY to $129.4 million.
Free cash flow more than doubled to $58.1 million.
West Pharma
West Pharma
West Pharma Revenue by Segment
Revenue by Segment
Proprietary Products Revenue
CapyFin.comContract-Manufactured Products Revenue
CapyFin.com Forward Guidance
West increased its full-year 2025 revenue and EPS guidance due to favorable currency movements and strong market performance.
Positive Outlook
- Raised full-year 2025 net sales guidance to $2.945–2.975 billion.
- Increased adjusted EPS guidance to $6.15–$6.35.
- Foreign currency impact now expected to be a minor headwind of $5 million.
- Strong performance in self-injection platforms expected to continue.
- Capital expenditures remain on track at $275 million for FY25.
Challenges Ahead
- Reported EPS declined YoY from $1.55 to $1.23.
- Contract-manufactured products saw a slight revenue decline.
- Impact from tariffs estimated between $20–25 million for 2025.
- Stock-based tax benefits not forecasted for future quarters.
- Net income declined YoY by approximately $25.5 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income