Jun 2026 (Q2 FY26) — Jul 23, 2026
West Pharmaceutical Services Q2 FY26 — Strong Organic Growth and Raised Full-Year Guidance
Read the full callWest Pharmaceutical Services earnings: last reported Thu, 23 Jul 2026, for the quarter ended Jun 2026.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 872 | +13.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 20.5 | +0.5 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 154 | +16.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
10 of 12 judged targets kept · 14 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly adjusted diluted EPS | $2.05 to $2.12 | Mar 2026 | adjusted EPS of $2.37, was up 29% as compared to prior year. | Achieved |
| Full-year adjusted diluted EPS | $7.85 to $8.20 | Dec 2025 | This results in adjusted earnings per share to be between $8.85 to $9.05 for the year, up 21% to 24% year-on-year. | Revised Up |
| Annex 1 revenue growth contribution | about 200 basis points | Dec 2025 | We saw continued growth in Annex 1 related projects in the quarter, and we expect this mix shift to deliver our target of 200 basis points of revenue growth in 2026. | On Track |
2 of WEST PHARMACEUTICAL SERVICES INC's 26 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 23 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: $277 on 22 Oct 2025 → $392.15. High $394.03 (22 Oct 2026), low $230.95 (3 Feb 2026).
Overview
Guidance
10 of 12 judged targets kept · 14 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly adjusted diluted EPS | $2.05 to $2.12 | Mar 2026 | adjusted EPS of $2.37, was up 29% as compared to prior year. | Achieved |
| Full-year adjusted diluted EPS | $7.85 to $8.20 | Dec 2025 | This results in adjusted earnings per share to be between $8.85 to $9.05 for the year, up 21% to 24% year-on-year. | Revised Up |
| Annex 1 revenue growth contribution | about 200 basis points | Dec 2025 | We saw continued growth in Annex 1 related projects in the quarter, and we expect this mix shift to deliver our target of 200 basis points of revenue growth in 2026. | On Track |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 26 tracked commitments, with each call’s wording and source.
Call summaries
West Pharmaceutical Services Q2 FY26 — Strong Organic Growth and Raised Full-Year Guidance
Read the full callWest Pharmaceutical Services Q1 FY26 — Strong Performance Drives Raised Full-Year Guidance
Read the full callEvery analysed call
Financials
Net profit, year on year: +17% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 747 | 749 | 698 | 767 | 805 | 805 | 845 | 872 |
| Operating profit | 161 | 160 | 107 | 154 | 168 | 157 | 177 | 179 |
| Operating margin | 21.6% | 21.3% | 15.3% | 20.1% | 20.8% | 19.4% | 21.0% | 20.5% |
| Other income | 3 | — | — | — | — | — | — | — |
| Interest | 1 | -1 | 0 | 0 | 0 | -0 | 2 | 3 |
| Profit before tax | 165 | 165 | 111 | 157 | 172 | 162 | 180 | 180 |
| Tax rate | 19.7% | 22.3% | 21.8% | 19.2% | 19.8% | 20.6% | 24.8% | 17.9% |
| Net profit | 136 | 130 | 90 | 132 | 140 | 132 | 139 | 154 |
| EPS ($ per share) | 1.87 | — | 1.24 | 1.82 | 1.94 | — | 1.93 | 2.17 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 |
| Reserves | 1,353 | 1,549 | 1,847 | 2,457 | 2,988 | 3,523 | 3,957 | 4,375 |
| Total liabilities | 583 | 768 | 939 | 978 | 932 | 949 | 961 | 1,094 |
| Fixed assets | 822 | 839 | 943 | 1,058 | 1,158 | 1,413 | 1,582 | 1,726 |
| Total assets | 1,979 | 2,341 | 2,794 | 3,314 | 3,617 | 3,830 | 3,643 | 4,270 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 289 | 367 | 473 | 584 | 724 | 777 | 653 | 755 |
| Cash from investing | -101 | -228 | -179 | -253 | -288 | -369 | -379 | -286 |
| Cash from financing | -81 | -37 | -137 | -168 | -294 | -460 | -623 | -185 |
| Net cash flow | 102 | 102 | 176 | 147 | 132 | -40 | -369 | 307 |
| Capital expenditure | -105 | -126 | -174 | -253 | -285 | -362 | -377 | -286 |
| Free cash flow | 184 | 241 | 298 | 331 | 439 | 415 | 276 | 469 |
Proprietary Products grew from 81% to 83% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Proprietary Products | 81% | 82% | 81% | 81% | 80% | 82% | 82% | 83% | +16.6% |
| West Vantage | — | — | — | — | — | — | 18% | 17% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
56 filings between Feb 11, 2026 and Sep 15, 2026.
Purchases
None
No insider bought shares.
Sales
$6.57M
8 sales by 2 insiders
38% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Favorite Annette F | — | $6.30M | Sep 15, 2026 |
| Winters Chad | — | $269.4K | Apr 27, 2026 |
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 15, 2026 | Favorite Annette F Sr. VP & Chief HR Officer | Sale 10b5-1 plan | 2,524 | $921.3K |
| Sep 15, 2026 | Favorite Annette F Sr. VP & Chief HR Officer | Option exercise 10b5-1 plan | 2,524 | $226.3K |
| Sep 14, 2026 | Favorite Annette F Sr. VP & Chief HR Officer | Sale 10b5-1 plan | 2,500 | $887.5K |
| Sep 14, 2026 | Favorite Annette F Sr. VP & Chief HR Officer | Option exercise 10b5-1 plan | 2,500 | $224.1K |
| Sep 11, 2026 | Favorite Annette F Sr. VP & Chief HR Officer | Sale 10b5-1 plan | 2,500 | $862.5K |
| Sep 11, 2026 | Favorite Annette F Sr. VP & Chief HR Officer | Option exercise 10b5-1 plan | 2,500 | $224.1K |
| Sep 8, 2026 | Favorite Annette F Sr. VP & Chief HR Officer | Sale | 2,500 | $852.0K |
| Sep 8, 2026 | Favorite Annette F Sr. VP & Chief HR Officer | Option exercise | 2,500 | $224.1K |
| Sep 8, 2026 | Favorite Annette F Sr. VP & Chief HR Officer | Sale | 2,818 | $960.4K |
| Sep 8, 2026 | Favorite Annette F Sr. VP & Chief HR Officer | Option exercise | 2,818 | $235.2K |
| Sep 8, 2026 | Favorite Annette F Sr. VP & Chief HR Officer | Sale | 2,817 | $960.1K |
| Sep 8, 2026 | Favorite Annette F Sr. VP & Chief HR Officer | Option exercise | 2,817 | $235.1K |
| Aug 11, 2026 | McMahon Robert W. SVP & Chief Financial Officer | Option exercise | 794 | — |
| Aug 11, 2026 | McMahon Robert W. SVP & Chief Financial Officer | Tax withheld | 346 | $121.4K |
| Aug 11, 2026 | McMahon Robert W. SVP & Chief Financial Officer | Option exercise | 6,355 | — |
| Aug 11, 2026 | McMahon Robert W. SVP & Chief Financial Officer | Tax withheld | 2,764 | $971.1K |
| May 12, 2026 | Campbell Shane Alden SVP, Proprietary Segment | Option exercise | 296 | — |
| May 12, 2026 | Campbell Shane Alden SVP, Proprietary Segment | Tax withheld | 84 | $26.3K |
| May 12, 2026 | Campbell Shane Alden SVP, Proprietary Segment | Option exercise | 474 | — |
| May 12, 2026 | Campbell Shane Alden SVP, Proprietary Segment | Tax withheld | 135 | $42.1K |
| May 4, 2026 | BUTHMAN MARK A Director | Award | 791 | $0 |
| May 4, 2026 | Keller Deborah L Director | Award | 791 | $0 |
| May 4, 2026 | LAI GOLDMAN MYLA Director | Award | 791 | $0 |
| May 4, 2026 | Lockhart Stephen H Director | Award | 791 | $0 |
| May 4, 2026 | Feehery William F Director | Award | 791 | $0 |
| May 4, 2026 | FRIEL ROBERT F Director | Award | 791 | $0 |
| May 4, 2026 | HAUGEN JANET BRUTSCHEA Director | Award | 791 | $0 |
| May 4, 2026 | Joseph Molly Director | Award | 791 | $0 |
| May 4, 2026 | Michels Douglas A Director | Award | 791 | $0 |
| May 4, 2026 | Pucci Paolo Director | Award | 791 | $0 |
| Apr 27, 2026 | Favorite Annette F Sr. VP & Chief HR Officer | Sale | 2,817 | $859.8K |
| Apr 27, 2026 | Favorite Annette F Sr. VP & Chief HR Officer | Option exercise | 2,817 | $235.1K |
| Apr 27, 2026 | Winters Chad VP, Chief Accounting Officer | Sale | 896 | $269.4K |
| Apr 27, 2026 | Winters Chad VP, Chief Accounting Officer | Option exercise | 896 | $155.2K |
| Feb 20, 2026 | Poussot Rodolphe Jean SVP, Strategy & Corporate Dev | Option exercise | 383 | — |
| Feb 20, 2026 | Poussot Rodolphe Jean SVP, Strategy & Corporate Dev | Tax withheld | 130 | $31.2K |
| Feb 20, 2026 | Winters Chad VP, Chief Accounting Officer | Option exercise | 89 | — |
| Feb 20, 2026 | Winters Chad VP, Chief Accounting Officer | Tax withheld | 30 | $7.3K |
| Feb 20, 2026 | Witherspoon Charles VP & Treasurer | Option exercise | 60 | — |
| Feb 20, 2026 | Witherspoon Charles VP & Treasurer | Tax withheld | 22 | $5.3K |
| Feb 18, 2026 | Poussot Rodolphe Jean SVP, Strategy & Corporate Dev | Option exercise | 82 | — |
| Feb 18, 2026 | Poussot Rodolphe Jean SVP, Strategy & Corporate Dev | Tax withheld | 28 | $6.9K |
| Feb 18, 2026 | Green Eric Mark President, CEO and Board Chair | Tax withheld | 574 | $142.4K |
| Feb 18, 2026 | Green Eric Mark President, CEO and Board Chair | Option exercise | 1,319 | — |
| Feb 18, 2026 | Favorite Annette F Sr. VP & Chief HR Officer | Option exercise | 135 | — |
| Feb 18, 2026 | Favorite Annette F Sr. VP & Chief HR Officer | Tax withheld | 36 | $8.9K |
| Feb 17, 2026 | Winters Chad VP, Chief Accounting Officer | Tax withheld | 51 | $12.3K |
| Feb 17, 2026 | Green Eric Mark President, CEO and Board Chair | Award | 4,419 | $0 |
| Feb 17, 2026 | Green Eric Mark President, CEO and Board Chair | Tax withheld | 1,305 | $317.5K |
| Feb 17, 2026 | Winters Chad VP, Chief Accounting Officer | Award | 150 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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