West Pharmaceutical Services, Inc. (WST) reported that its first quarter net income was $115.3 million, compared to $140.0 million, prior year. Reported EPS was $1.55, declined by 16.2%. Adjusted EPS was $1.56, declined by 21.2%. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $1.26, for the quarter. Analysts' estimates typically exclude special items.
Net sales were $695.4 million, declined 3.0%; organic net sales also declined by 3.0%. Analysts on average had estimated $670.3 million in revenue.
The company reaffirmed 2024 net sales guidance in a range of $3.000 billion to $3.025 billion. The company increased full-year 2024 adjusted EPS guidance to a new range of $7.63 to $7.88, compared to a prior range of $7.50 to $7.75. Analysts expect the company to report profit per share of $7.62.
The company also announced that its Board of Directors has approved a third-quarter 2024 dividend of $0.20 per share. The dividend will be paid on August 7, 2024, to shareholders of record as of July 31, 2024.
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