West Pharmaceutical Services Inc's (NYSE:WST) Q4 net sales increased 26% Y/Y to $730.8 million, beating the consensus of $710.20 million. Organic sales growth was 28.3%.
- Q4 FY21 EPS reached $2.04 from $1.34 a year ago, surpassing the consensus of $1.91.
- Gross profit increased from 36.4% to 41.1%. Adjusted operating profit margin reached 25.9%, up from 20.5% a year ago.
- "Our performance was fueled by execution across our Proprietary market units and all geographies as we serve to improve patients' lives. Our business generated strong double-digit organic sales growth in the fourth-quarter and full-year 2021, led by sales of high-value products (HVP)," said Eric Green, President & CEO.
- Proprietary Products Segment sales were up 34.2% to $609.3 million. Organic sales growth was 36.8%.
- Contract-Manufactured Products Segment revenues declined 3.6% to $121.5 million. Organic sales declined by 2.1%. Consumer products and medical device products led the segment's performance.
- Operating cash flow was $584.0 million, an increase of 23.6%.
- Guidance: West Pharma expects FY22 sales of $3.05 billion - $3.075 billion and reported-diluted EPS of $9.20 to $9.35.
- Price Action: WST shares closed at $379.32 on Wednesday.
