WST FY 2018 Earnings Report — West Pharmaceutical Services, Inc. Revenue & Financial Results | Market Cap Arena

West Pharmaceutical Services, Inc.WST

FY 2018 Earnings

Reported February 27, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$1.7B	—	$1.6B	—	7.4%
Op. Income	$255M	—	$230M	—	10.9%
Gross Margin	31.8%	—	32.2%	—	-0.4pp
Net Margin	12.0%	—	9.4%	—	2.6pp
EPS (Diluted)	$2.74	—	$1.99	—	37.7%
Free Cash Flow	$184M	—	$133M	—	38.8%

Revenue Flow

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$1.2B
GROSS PROFIT	$546M
R&D Expenses	$40M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$263M
Other Expenses	-$12M
Operating Expenses	$292M
Cost & Expenses	$1.5B
OPERATING INCOME	$255M
Interest Income	$2M
Interest Expense	$8M
Other Income/Expenses	-$7M
INCOME BEFORE TAX	$248M
Income Tax Expense	$41M
Net Income from Continuing Ops	$207M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$207M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$207M
D&A	$104M
EBIT	$249M
EBITDA	$353M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$1.2B
GROSS PROFIT	$546M
R&D Expenses	$40M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$263M
Other Expenses	-$12M
Operating Expenses	$292M
Cost & Expenses	$1.5B
OPERATING INCOME	$255M
Interest Income	$2M
Interest Expense	$8M
Other Income/Expenses	-$7M
INCOME BEFORE TAX	$248M
Income Tax Expense	$41M
Net Income from Continuing Ops	$207M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$207M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$207M
D&A	$104M
EBIT	$249M
EBITDA	$353M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$207M
Depreciation & Amortization	$104M
Stock-Based Compensation	$15M
Deferred Income Tax	$900.0K
Other Non-Cash Items	-$10M
Change in Working Capital	-$28M
OPERATING CASH FLOW	$289M
Capital Expenditure	-$105M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$101M
Net Debt Issuance	-$100.0K
Common Stock Repurchased	-$71M
Common Dividends Paid	-$42M
Other Financing Activities	$32M
NET CASH FROM FINANCING	-$81M
FREE CASH FLOW	$184M
Net Change in Cash	$102M

Balance Sheet

Item	Amount
Cash & Equivalents	$337M
Short-Term Investments	$0
Net Receivables	$288M
Inventory	$215M
Other Current Assets	$54M
TOTAL CURRENT ASSETS	$894M
PP&E (Net)	$822M
Goodwill	$106M
Intangible Assets	$20M
Long-Term Investments	$91M
Tax Assets	$25M
Other Non-Current Assets	$21M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$1.6B
Account Payables	$130M
Short-Term Debt	$100.0K
Deferred Revenue	$26M
Other Current Liabilities	$23M
TOTAL CURRENT LIABILITIES	$284M
Long-Term Debt	$196M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$13M
Other Non-Current Liabilities	$90M
TOTAL NON-CURRENT LIABILITIES	$299M
TOTAL LIABILITIES	$583M
Common Stock	$19M
Additional Paid-In Capital	$282M
Retained Earnings	$1.4B
Treasury Stock	-$104M
Accum. Other Comp. Income	-$154M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$1.6B
Total Debt	$196M
Net Debt	-$141M