The full-year 2019 net sales of $1.840 billion grew 7.1 per cent
West Pharmaceutical Services announced its financial results for the fourth-quarter and full-year 2019 and introduced full-year 2020 financial guidance. The fourth-quarter 2019 net sales of $470.6 million grew 11.4 per cent; organic sales growth was 12.7 per cent; sales from a recent acquisition contributed an additional 30 basis points of growth; currency translation reduced sales by 160 basis points.
The full-year 2019 net sales of $1.840 billion grew 7.1 per cent; organic sales growth was 10 per cent; sales from a recent acquisition contributed an additional 10 basis points of growth; currency translation reduced sales by 300 basis points. The fourth-quarter 2019 reported-diluted EPS of $0.84 increased to 22 per cent. The full-year 2019 reported-diluted EPS of $3.21 increased to 17 per cent. The fourth-quarter 2019 adjusted-diluted EPS of $0.82 increased to12 per cent and the full-year 2019 adjusted-diluted EPS of $3.24 increased 15 per cent. The company has introduced full-year 2020 financial guidance of net sales in a range of $1.95 billion to $1.97 billion and reported-diluted EPS in a range of $3.45 to $3.55.
“I am pleased to report strong fourth-quarter 2019 sales and EPS growth, which continues a trend seen throughout the year,” said Eric M Green, President and CEO, West Pharmaceutical Services. “We had double-digit organic sales growth in all three market units of our Proprietary Products segment. High-value products (HVPs) once again fuelled sales growth and gross margin expansion, led by Daikyo and Westar components.”
Green continued, “We are introducing full-year 2020 financial guidance that is in line with our long-term financial construct of organic sales growth and operating margin expansion. Our end markets are stable and growing, and we are off to a good start to 2020 with a strong book of committed orders for our high-value products, such as NovaPure and Envision components, as well as Daikyo Crystal Zenith containers and our portfolio of self-injection delivery platforms. Our teams across the globe have demonstrated their passion for customers throughout 2019, with new product and services offerings, and are poised to deliver another strong year of sales and profit growth for our business in 2020.”