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West Pharmaceutical Services ($WST) has lowered its full-year sales and profit forecast due to subdued demand for its medical equipment used in making injectable drugs. The company reported Q2 earnings per share (EPS) of $1.52, missing the FactSet consensus of $1.74. Revenue for the quarter was $702.1 million, below the FactSet estimate of $729.4 million. The company now expects full-year EPS to be between $6.35 and $6.65, down from its previous guidance of $7.63 to $7.88 and below the FactSet consensus of $7.75. This revision is part of its FY24 guide.
West Pharmaceutical Services cut its annual profit and sales forecast on Thursday, on lower demand for its medical equipment used in making injectable drugs as biotech customers worked through their existing inventories. https://t.co/tgwFRtkXjI https://t.co/tgwFRtkXjI
$WST West Pharmaceutical Services reports Q2 EPS $1.52 ex-items vs FactSet $1.74 Reports Q2: Revenue $702.1M vs FactSet $729.4M FY24 guide EPS $6.35-$6.65 vs prior guidance $7.63-$7.88 and FactSet $7.75 When #pounders pound
West Pharmaceutical Services cut its annual profit and sales forecast on Thursday, on lower demand for its medical equipment used in making injectable drugs as biotech customers worked through their existing inventories. https://t.co/SdC3uukxr9 https://t.co/SdC3uukxr9