May 24, 2017 4:37 AM ET

Healthcare Equipment and Supplies

Company Overview of West Pharmaceutical Services, Inc.

Company Overview

West Pharmaceutical Services, Inc. manufactures and sells packaging components and delivery systems for injectable drugs and healthcare products in the United States, Germany, France, Other European countries, and internationally. The company’s Proprietary Products segment offers stoppers and seals for injectable packaging systems; and syringe and cartridge components, including custom solutions for the needs of injectable drug applications, as well as administration systems that enhance the safe delivery of drugs through advanced reconstitution, mixing, and transfer technologies. It also provides drug containment solutions, including CZ vials, syringes, and cartridges; and self-injection sy...

530 Herman O. West Drive

Exton, PA 19341

United States

Founded in 1923

7,100 Employees

Phone:

610-594-2900

Key Executives for West Pharmaceutical Services, Inc.

Chief Executive Officer, President and Director
Age: 46
Total Annual Compensation: $749.0K
Chief Financial Officer, Senior Vice President and Treasurer
Age: 56
Total Annual Compensation: $517.3K
Chief Human Resources Officer and Senior Vice President
Age: 51
Total Annual Compensation: $450.0K
Chief Commercial Officer and Senior Vice President
Age: 53
Total Annual Compensation: $439.9K
Senior Vice President, General Counsel and Corporate Secretary
Age: 61
Total Annual Compensation: $400.0K
Compensation as of Fiscal Year 2016.

West Pharmaceutical Services, Inc. Key Developments

West Pharmaceutical Services, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Revises Earnings Guidance for the Year 2017

West Pharmaceutical Services, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. The company reported net sales of $387.7 million, operating profit of $61.3 million, income before income taxes of $59.5 million, net income of $60.9 million or $0.81 per diluted share against net sales of $362.1 million, operating profit of $30 million, income before income taxes of $27.8 million, net income of $22.1 million or $0.30 per diluted share a year ago. Adjusted operating profit was $61.3 million against $55.6 million a year ago. Operating cash flow was $23.3 million against $22.3 million a year ago. Capital expenditures were $37.5 million against $39.0 million a year ago. Proprietary Products first quarter gross margin, a 39.2% was 40 basis points higher than the 38.8% achieved in the first quarter of 2016. The increase in gross margin is due to price increases and operational efficiencies, offset by a slightly unfavorable mix of products sold, and normal inflationary increases in labor and overhead and overhead costs. For the full-year 2017 sales guidance is unchanged and is expected to be between $1.585 billion to $1.610 billion. Full-year 2017 reported-diluted EPS guidance is now expected to be between $2.66 and $2.78, compared to the prior range of $2.45 and $2.57, and reflects the previously-discussed adoption of fasb-issued guidance. The company estimates its 2017 capital spending at between $150 million and $175 million. The company expects that full year tax rate is going to be right around 29%.

West Pharmaceutical Services, Inc., Q1 2017 Earnings Call, Apr 27, 2017

West Pharmaceutical Services, Inc., Q1 2017 Earnings Call, Apr 27, 2017

West Pharmaceutical Services, Inc., Annual General Meeting, May 02, 2017

West Pharmaceutical Services, Inc., Annual General Meeting, May 02, 2017, at 09:30 Eastern Daylight. Location: 530 Herman O. West Drive Exton, PA 19341 United States Agenda: To approve election of Directors; to approve the executive officer compensation; to approve the frequency of the executive compensation vote; to ratify the appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for the 2017 year; and to consider such other business as may properly come before the meeting or any adjournment thereof.

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