WST Q2 2019 Earnings Report — West Pharmaceutical Services, Inc. Revenue & Financial Results | Market Cap Arena

West Pharmaceutical Services, Inc.WST

Q2 2019 Earnings

Reported July 29, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2019	Q1 2019	Q2 2018	QoQ Change	YoY Change
Revenue	$469M	$443M	$448M	5.9%	4.8%
Op. Income	$78M	$68M	$55M	14.0%	42.1%
Gross Margin	33.6%	33.0%	31.8%	0.5pp	1.7pp
Net Margin	14.1%	12.5%	12.5%	1.6pp	1.6pp
EPS (Diluted)	$0.88	$0.73	$0.75	20.5%	17.3%
Free Cash Flow	$77M	$19M	$62M	308.5%	24.3%

Revenue Flow

Item	Amount
REVENUE	$469M
Cost of Revenue	$312M
GROSS PROFIT	$158M
R&D Expenses	$10M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$70M
Other Expenses	$0
Operating Expenses	$80M
Cost & Expenses	$392M
OPERATING INCOME	$78M
Interest Income	$600.0K
Interest Expense	$2M
Other Income/Expenses	$4M
INCOME BEFORE TAX	$82M
Income Tax Expense	$16M
Net Income from Continuing Ops	$66M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$66M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$66M
D&A	$26M
EBIT	$82M
EBITDA	$108M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$469M
Cost of Revenue	$312M
GROSS PROFIT	$158M
R&D Expenses	$10M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$70M
Other Expenses	$0
Operating Expenses	$80M
Cost & Expenses	$392M
OPERATING INCOME	$78M
Interest Income	$600.0K
Interest Expense	$2M
Other Income/Expenses	$4M
INCOME BEFORE TAX	$82M
Income Tax Expense	$16M
Net Income from Continuing Ops	$66M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$66M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$66M
D&A	$26M
EBIT	$82M
EBITDA	$108M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$66M
Depreciation & Amortization	$26M
Stock-Based Compensation	$7M
Deferred Income Tax	$0
Other Non-Cash Items	-$500.0K
Change in Working Capital	$6M
OPERATING CASH FLOW	$105M
Capital Expenditure	-$28M
Acquisitions (Net)	-$19M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$100.0K
NET CASH FROM INVESTING	-$47M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$11M
Other Financing Activities	$14M
NET CASH FROM FINANCING	$3M
FREE CASH FLOW	$77M
Net Change in Cash	$61M

Balance Sheet

Item	Amount
Cash & Equivalents	$327M
Short-Term Investments	$0
Net Receivables	$331M
Inventory	$232M
Other Current Assets	$55M
TOTAL CURRENT ASSETS	$944M
PP&E (Net)	$897M
Goodwill	$108M
Intangible Assets	$30M
Long-Term Investments	$95M
Tax Assets	$28M
Other Non-Current Assets	$20M
TOTAL NON-CURRENT ASSETS	$1.2B
TOTAL ASSETS	$2.1B
Account Payables	$152M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$87M
TOTAL CURRENT LIABILITIES	$313M
Long-Term Debt	$196M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$14M
Other Non-Current Liabilities	$89M
TOTAL NON-CURRENT LIABILITIES	$365M
TOTAL LIABILITIES	$678M
Common Stock	$19M
Additional Paid-In Capital	$273M
Retained Earnings	$1.5B
Treasury Stock	-$148M
Accum. Other Comp. Income	-$152M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$273M
Net Debt	-$54M