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 earnings are important, another area to consider is the balance sheet. See our latest analysis on West Pharmaceutical Services' balance sheet health.
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