West Pharmaceutical Services, Inc. · WST · FY2025 Q1 · Calendar Q2 2025

WST raises guidance as GLP-1 and HVP demand strengthen

The supplied analysis supports a constructive operating trajectory: resilient GLP-1 and HVP demand, accelerating AnnexOne work, and capacity investments led management to raise guidance. The case is tempered by tariffs, FX, supply constraints, pricing, mix, and facility-execution risks.

Reported Before market openNYSEHealthcare $25.87B market cap
80quality score

Earnings scorecard

Reported versus consensus
Reported EPS — Consensus $1.30
EPS surprise — Reported versus consensus
Reported revenue — Consensus $686.3M
Revenue surprise — Reported versus consensus

Market reaction

prior-close to event-session close
Stock move -3.5% Event window
SPY move +2.1% Same window
Abnormal move -5.6% Stock minus SPY
Volume 2.6× Versus trailing sessions
Subsequent drift -1.0% Up to 20 sessions
WSTSPY benchmark

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Transcript intelligence

What changed

Compared with the prior quarter, guidance sentiment moved from maintained to raised. Management also highlighted stronger-than-expected AnnexOne contribution, continued GLP-1 and HVP momentum, unchanged capex, and a new senior vice president for the Proprietary Segment.

Guidance delta

Management raised full-year revenue and adjusted EPS guidance, citing strong GLP-1 and HVP component demand; tariff and FX effects remain considerations.

Key takeaways

  • Q1 revenue was reported at $698 million, with 2.1% organic sales growth and an adjusted EPS beat.
  • Management raised full-year revenue and adjusted EPS guidance.
  • AnnexOne projects accelerated and represented roughly 200 basis points of revenue in Q1.
  • Capex was unchanged at $275 million, focused on SmartDose automation and drug-handling expansion.
  • Tariff exposure, an HVP plant constraint, pricing, and mix remain execution risks.

Management priorities

  • Advance SmartDose automation.
  • Ramp drug-handling operations at the Dublin facility.
  • Expand the AnnexOne project portfolio.
  • Shift mix toward higher-margin products.
  • Pursue contract-manufacturing opportunities after the CGM exit.

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Earnings History

Estimate Beat Miss Match
WST REVENUE earnings history estimate and actual scatter chart 9 reported fiscal quarters and 4 future estimate-only quarters. Q4 '23 estimate $739M Q4 '23 actual $732M, miss Q1 '24 estimate $671M Q1 '24 actual $695M, beat Q2 '24 estimate $729M Q2 '24 actual $702M, miss Q3 '24 estimate $740M Q3 '24 actual $747M, beat Q2 '25 estimate $726M Q2 '25 actual $766M, beat Q3 '25 estimate $786M Q3 '25 actual $804M, beat Q4 '25 estimate $795M Q4 '25 actual $805M, beat Q1 '26 estimate $780M Q1 '26 actual $845M, beat Q2 '26 estimate $840M Q2 '26 actual $872M, beat Q3 '26 estimate $827M Q4 '26 estimate $828M Q1 '27 estimate $859M Q2 '27 estimate $898M
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Analyst Consensus ?

ConsensusBuy15 ratings
Bullish1280.0%
Neutral213.3%
Bearish16.7%

Analyst 52W Price Targets

$367.6Previous close
$295Low
$372Average
$447High

Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 13, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Barclays Overweight OverweightMaintainOct 7, 2026
Morgan Stanley Overweight Equal WeightUpgradeSep 22, 2026
UBS Buy BuyMaintainSep 9, 2026
Citigroup Buy BuyMaintainAug 3, 2026
Evercore ISI Group Outperform OutperformMaintainJul 27, 2026
Show 10 more rating actions

Named analyst price targets

Upside is calculated against the persisted previous close $367.6. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
BarclaysLuke Sergott$440$372.64 +19.7%Oct 7, 2026
Morgan StanleyKallum Titchmarsh$400$361.73 +8.8%Sep 22, 2026
UBSAnalyst unavailable$415$338.06 +12.9%Sep 9, 2026
Evercore ISIAnalyst unavailable$425$333.12 +15.6%Jul 27, 2026
BNP ParibasAnalyst unavailable$447$353.71 +21.6%Jul 13, 2026
See 24 more

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Company context

Snapshot as of publication

West Pharmaceutical Services, Inc. (WST) specializes in the development, manufacturing, and global distribution of essential containment and delivery solutions for injectable pharmaceuticals and other healthcare products. The company's operations span across the Americas, Europe, the Middle East, Africa, and the Asia Pacific region, structured into two primary business units: Proprietary Products and Contract-Manufactured Products. The Proprietary Products segment offers a comprehensive array of components for injectable packaging, including stoppers and seals, alongside syringe and cartridge parts, which can be customized for specific injectable drug delivery requirements. It also provides advanced drug administration systems designed to enhance safe and effective delivery through sophisticated reconstitution, mixing, and transfer technologies.…

Historical context

All WST earnings

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Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2025-04-10T00:01:43.729046+00:00
  3. Polygon adjusted daily market bars · 2026-10-13T04:50:43.952365+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-13T04:50:43.949675+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-13. For educational purposes only; not investment advice.