West Pharmaceutical Services, Inc. announced robust second-quarter 2025 results, with net sales growing by 9.2% year-over-year to $766.5 million, and organic net sales increasing by 8.4%. This performance exceeded market expectations. The Proprietary Products segment was a key driver, with net sales up 10.7% and High-Value Product (HVP) Components increasing by 11.3%, fueled by strong GLP-1 elastomer growth and ongoing Annex 1 conversion projects.
HVP Delivery Devices, representing 13% of total company net sales, increased by 30.0%, driven mainly by Daikyo Crystal Zenith® and Administration Systems. The company's Biologics, Pharma, and Generics market units each achieved high-single digit organic net sales growth. The Contract-Manufactured Products segment also saw growth, with net sales rising 3.0% to $146.7 million, or 0.5% on an organic basis, primarily from self-injection devices for obesity and diabetes.
Consolidated gross profit margin improved to 35.7% from 32.8% in the prior-year quarter, reflecting the concentration of improved performance in higher margin products. Reported-diluted EPS for the quarter was $1.82, a significant increase from $1.51 in Q2 2024, and adjusted-diluted EPS was $1.84, surpassing analysts' consensus estimates by 22%.
Following this strong performance, the company significantly raised its full-year 2025 adjusted-diluted EPS guidance to a range of $6.65 to $6.85, up from the previous range of $6.15 to $6.35. Net sales guidance was also increased. This updated outlook reflects the positive business momentum, favorable foreign exchange impacts, and the normalization of customer ordering patterns.
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