West Pharmaceutical Services Updates Full-Year 2024 Net Sales Guidance To $2.87B-$2.9B Versus Prior Guidance Of $3B-$3.025B And Consensus Of $3.012B

Author: Benzinga Newsdesk | July 25, 2024 06:05am

• The Company is updating full-year 2024 net sales guidance to a range of $2.870 billion to $2.900 billion, compared to a prior range of $3.000 billion to $3.025 billion.
  • Organic net sales are now expected decrease approximately 1% to 2%.
  • Net sales guidance includes an estimated full-year 2024 headwind of approximately $5.0 million based on current foreign currency exchange rates, compared to prior guidance of approximately $8.0 million.
• Full-year 2024 adjusted-diluted EPS is expected to be in a range of $6.35 to $6.65, compared to prior guidance range of $7.63 to $7.88.
  • Full-year adjusted-diluted EPS guidance range includes an estimated headwind of approximately $0.03 based on current foreign currency exchange rates, compared to prior guidance of $0.04.
  • The updated guidance also includes EPS of $0.22 associated with first-half 2024 tax benefits from stock-based compensation.
  • For the second half of the year, our EPS guidance range assumes a tax rate of 22% and does not include potential tax benefits from stock-based compensation. Any tax benefits associated with stock-based compensation beyond those recorded in the first-half 2024 would provide a positive adjustment to our full-year adjusted-diluted EPS guidance.
• Full-year 2024 capital spending is expected to be $375 million, an increase from the previous estimate of $350 million.

Posted In: WST