Q2 26 EPS
$2.37
BEAT +13.86%
Est. $2.08
Q2 26 Revenue
$872.3M
BEAT +3.85%
Est. $840.0M
vs S&P Since Q2 26
-6.6%
TRAILING MARKET
WST -1.9% vs S&P +4.8%
Market Reaction
Did WST Beat Earnings? Q2 2026 Results
West Pharmaceutical Services delivered a standout second quarter for fiscal 2026, posting adjusted diluted EPS of $2.37, beating the $2.08 consensus by 13.86% and marking the company's fourth consecutive quarter of exceeding EPS estimates. Revenue cl… Read more West Pharmaceutical Services delivered a standout second quarter for fiscal 2026, posting adjusted diluted EPS of $2.37, beating the $2.08 consensus by 13.86% and marking the company's fourth consecutive quarter of exceeding EPS estimates. Revenue climbed 13.8% year-over-year to $872.30 million, ahead of the $839.98 million consensus by 3.85%, as the Proprietary Products segment drove the bulk of the outperformance with $722.60 million in net sales, up 16.6%. The primary engine was High Value Product Components, where demand for NovaPure and FluroTec products accelerated alongside a surge in GLP-1 elastomers, which now represent 10% of total company revenues, reflecting the broader industry boom in biologics and injectable drug delivery. Consolidated gross margin expanded 200 basis points to 37.7%, while adjusted operating margin widened to 22.6%. With momentum firmly in its favor, West raised full-year 2026 net sales guidance to a range of $3.35 billion to $3.38 billion and lifted adjusted diluted EPS guidance to $8.85 to $9.05, well above prior expectations.
Key Takeaways
- • Continued strength in Biologics market driving HVP Components growth
- • Favorable mix shift from HVP upgrades including Annex 1 regulatory compliance
- • Ongoing growth in GLP-1 elastomers, now 10% of total company revenues
- • Strong SmartDose performance ahead of AbbVie transaction closing
- • Crystal Zenith growth driven by Biologics market demand
- • Gross margin expansion of 200 bps to 37.7%
- • Adjusted operating profit margin expanded 230 bps to 22.6%
WST Forward Guidance & Outlook
West raised its full-year 2026 net sales guidance to $3.345 billion to $3.380 billion (from $3.295 billion to $3.350 billion), representing 8.8% to 10.0% reported growth and 10.0% to 11.0% organic growth, including an estimated 1 percentage point FX benefit. Full-year adjusted-diluted EPS guidance was increased to $8.85 to $9.05 (from $8.40 to $8.75), representing 21.4% to 24.1% growth over 2025. For Q3 2026, net sales are expected between $820 million and $835 million (1.9% to 3.8% reported growth, 7.0% to 8.9% organic), with an estimated ~1 percentage point FX headwind and ~4 percentage points divestiture impact from SmartDose 3.5mL. Q3 adjusted-diluted EPS is expected between $2.14 and $2.24. Capital expenditure guidance remains $250 million to $275 million. The estimated full-year tax rate is approximately 19%.
WST YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
WST Revenue by Segment
With YoY comparisons, source: SEC Filings
WST Revenue by Geography
With YoY comparisons, source: SEC Filings
“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, Q2 2026 Earnings Press Release
WST Earnings Trends
WST vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
WST EPS Trend
Earnings per share: estimate vs actual
WST Revenue Trend
Quarterly revenue: estimate vs actual
WST Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $2.08 | $2.37 | +13.86% | $872.3M | +3.85% |
| Q1 26 BEAT | $1.68 | $2.13 | +27.07% | $844.9M | +8.41% |
| Q4 25 BEAT FY | $1.83 | $2.04 | +11.54% | $805.0M | +1.28% |
| FY Full Year | — | $7.29 | — | $3.07B | — |
| Q3 25 BEAT | $1.69 | $1.96 | +16.31% | $804.6M | +2.15% |
| Q2 25 BEAT | $1.51 | $1.84 | +21.98% | $766.5M | +5.55% |