West Pharmaceutical Services

WST Q4 2025 Earnings

Reported Feb 12, 2026 at 7:21 AM ET · SEC Source

Q4 25 EPS

$2.04

BEAT +11.54%

Est. $1.83

Q4 25 Revenue

$805.0M

BEAT +1.28%

Est. $794.8M

vs S&P Since Q4 25

+39.4%

BEATING MARKET

WST +47.0% vs S&P +7.6%

Full Year 2025 Results

FY 25 EPS

$7.29

FY 25 Revenue

$3.07B

Market Reaction

Did WST Beat Earnings? Q4 2025 Results

West Pharmaceutical Services closed out fiscal 2025 on a strong note, posting Q4 adjusted diluted EPS of $2.04, beating the $1.83 consensus estimate by 11.48%, as revenue climbed 7.5% year-over-year to $805.00 million. The standout driver was a 15.1%… Read more West Pharmaceutical Services closed out fiscal 2025 on a strong note, posting Q4 adjusted diluted EPS of $2.04, beating the $1.83 consensus estimate by 11.48%, as revenue climbed 7.5% year-over-year to $805.00 million. The standout driver was a 15.1% organic surge in High-Value Product Components, fueled by demand for Westar and Envision products, while GLP-1-related revenues proved a meaningful contributor, with elastomers alone accounting for 10% of total company sales in the quarter. Gross margin expanded 130 basis points to 37.8%, and adjusted diluted EPS grew 12.1% versus the prior-year period. For the full year, free cash flow jumped 69.6% to $468.90 million, a performance strong enough to support a newly authorized $1 billion share repurchase program alongside a quarterly dividend of $0.22 per share. Looking ahead, management guided fiscal 2026 net sales of $3.21 billion to $3.27 billion and adjusted EPS of $7.85 to $8.20, representing earnings growth of 7.7% to 12.5%, with Contract Manufacturing margins expected to recover to historical levels as early as Q1 2026.

Key Takeaways

  • Double-digit organic growth in HVP Components driven by Westar and Envision products
  • GLP-1 elastomers represented 10% of total company revenues in Q4
  • GLP-1 Contract Manufacturing revenues represented 7% of total company revenues in Q4
  • Biologics market group accounted for 42% of Q4 revenue
  • Favorable foreign currency translation contributed 4.2 percentage points to Q4 revenue growth
  • EMEA region led geographic growth at 14.6% year-over-year
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WST YoY Financials

Q4 2025 vs Q4 2024, source: SEC Filings

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WST Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26
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WST Revenue by Geography

With YoY comparisons, source: SEC Filings

Q3 25 Q1 26

“Our strong finish to 2025 was a result of the team's relentless execution of our growth strategy. Our performance in the quarter was led by our High-Value Product Components business in our Proprietary Products Segment, enabling us to deliver double-digit adjusted earnings per share growth. We expect positive momentum to continue in 2026, which will be a key year of execution and operational excellence to drive sustainable growth and create value for our patients, customers and shareholders.”

— Eric M. Green, Q4 2025 Earnings Press Release