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
Portfolio Pulse from Benzinga Newsdesk
West Pharmaceutical Services has updated its full-year 2024 net sales guidance to a range of $2.87 billion to $2.9 billion, down from the previous range of $3 billion to $3.025 billion. The company also adjusted its full-year 2024 adjusted-diluted EPS guidance to $6.35 to $6.65, down from the prior range of $7.63 to $7.88. Capital spending for the year is expected to increase to $375 million from the previous estimate of $350 million.
July 25, 2024 | 10:05 am
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West Pharmaceutical Services has lowered its full-year 2024 net sales guidance to $2.87 billion to $2.9 billion, down from the previous range of $3 billion to $3.025 billion. The company also reduced its adjusted-diluted EPS guidance to $6.35 to $6.65, from the prior range of $7.63 to $7.88. Capital spending is expected to increase to $375 million from $350 million.
The downward revision in net sales and adjusted EPS guidance is likely to negatively impact investor sentiment and the stock price in the short term. The increase in capital spending may not offset the negative impact of the lowered guidance.
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