West Pharmaceutical ups FY24 adjusted EPS view to $6.55-$6.75 from $6.35-$6.65

Consensus $6.51. Raises FY24 revenue view to $2.88B-$2.91B from $2.87B-$2.9B, consensus $2.87B. The company said, “As a result of favorable currency movements, the Company increased its full year 2024 net sales guidance range to $2.875 billion to $2.905 billion, compared to a prior range of $2.870 billion to $2.900 billion. Anticipating a decrease of approximately 1.5% to 2% for organic net sales. Net sales guidance includes an estimated full-year 2024 headwind of approximately $1.0 million based on current foreign currency exchange rates, compared to previous guidance of a headwind of approximately $5.0 million. Full-year 2024 adjusted-diluted EPS is expected to be in a range of $6.55 to $6.75, compared to prior guidance range of $6.35 to $6.65. Our updated adjusted-diluted EPS guidance incorporates a foreign currency exchange rate headwind of $0.02, compared to prior guidance which anticipated a foreign currency exchange rate headwind of $0.03. The updated guidance also includes EPS of $0.26 associated with first nine-months 2024 tax benefits from stock-based compensation. For the fourth-quarter 2024, our EPS guidance range assumes a tax rate of 22% and does not include potential additional tax benefits from stock-based compensation. Any tax benefits associated with stock-based compensation beyond those recorded in the first nine-months of 2024 would provide a positive adjustment to our full-year adjusted-diluted EPS guidance. Full-year 2024 capital spending guidance is unchanged and is expected to be $375 million.”