West Pharmaceutical Services, Inc. income statement WST

Annual Quarterly

In Q3 of fiscal 2026, the quarter ended Sep 30, 2026, West Pharmaceutical Services, Inc. reported revenue of $874.5 million, up 8.7% from the same quarter a year earlier. Net income was $214.0 million, a profit margin of 24.5%. Operating income came to $267.4 million, an operating margin of 30.6%. Diluted earnings per share were $3.02.

USD in millions, except per-share amounts and margins. The percent under a figure is the change from the same quarter a year earlier.

Line	TTM Sep 30, 2026	Q3 FY2026 Sep 30, 2026	Q2 FY2026 Jun 30, 2026	Q1 FY2026 Mar 31, 2026	Q4 FY2025 Dec 31, 2025	Q3 FY2025 Sep 30, 2025	Q2 FY2025 Jun 30, 2025	Q1 FY2025 Mar 31, 2025	Q4 FY2024 Dec 31, 2024
Revenue	3,397 +12.6%	874 +8.7%	872 +13.8%	845 +21.0%	805 +7.5%	805 +7.7%	766 +9.2%	698 +0.4%	749 +2.3%
Cost of revenue	2,120 +9.0%	527 +3.3%	543 +10.3%	548 +17.7%	501 +5.5%	510 +5.8%	493 +4.3%	466 +0.2%	475 +4.7%
Gross profit	1,277 +18.9%	347 +18.0%	329 +20.2%	296 +27.8%	304 +11.1%	294 +11.2%	274 +19.1%	232 +0.7%	274 -1.7%
Research and development	76 +6.5%	18 +7.0%	20 +3.1%	16 -3.1%	22 +17.8%	17 +10.3%	19 +9.1%	16 -7.4%	18 +0.5%
Selling, general and administrative	437 +17.5%	113 +9.9%	118 +22.6%	100 +13.1%	107 +25.4%	103 +23.0%	96 +15.5%	88 +1.5%	85 -5.2%
Other operating income (expense)	-2 -275.0%	-0 -100.0%	-0 -400.0%	0 +100.0%	-1	-0 +66.7%	-0	-0 -33.3%	0 +100.0%
Operating income	780 +32.7%	267 +59.5%	179 +16.5%	177 +65.5%	157 -1.9%	168 +3.9%	154 +21.8%	107 -12.9%	160 -0.8%
Interest income	18 +6.4%	4 -8.5%	4 +5.6%	5 +24.4%	5 +6.2%	5 +2.2%	4 -10.0%	4 -33.9%	5 -48.9%
Interest expense	8	4 +1800.0%	3 +2500.0%	2 +375.0%	-0	0	0 -93.3%	0	—
Other non-operating income (expense)	-1 -11.1%	-0 +0.0%	-0 +0.0%	-0 +0.0%	-0 -33.3%	-0 +71.4%	-0	-0	-0 +66.7%
Pretax income	789 +30.6%	268 +55.7%	180 +14.7%	180 +63.0%	162 -2.1%	172 +4.5%	157 +22.0%	110 -13.3%	165 -2.0%
Equity in earnings of affiliates	18 +41.6%	4 +104.8%	6 +22.0%	3 +0.0%	4 +95.0%	2 -46.2%	5 +11.1%	3 -20.9%	2 -39.4%
Income tax	168 +34.5%	58 +70.6%	32 +6.6%	45 +85.5%	33 -9.5%	34 +4.9%	30 +37.9%	24 +47.0%	37 +6.7%
Net income	639 +29.9%	214 +52.9%	154 +16.8%	139 +54.6%	132 +1.5%	140 +2.9%	132 +18.4%	90 -22.1%	130 -5.0%
Basic EPS	8.95 +31.8%	3.04 +56.7%	2.17 +19.2%	1.93 +55.6%	1.83 +2.1%	1.94 +3.7%	1.82 +19.7%	1.24 -21.0%	1.79 -3.3%
Diluted EPS	8.90 +31.9%	3.02 +57.3%	2.15 +18.1%	1.92 +56.1%	1.82 +2.5%	1.92 +3.8%	1.82 +20.5%	1.23 -20.6%	1.77 -3.3%
Weighted average shares, basic	71 -1.4%	70 -2.5%	71 -1.9%	72 -0.7%	72 -0.6%	72 -0.8%	72 -1.1%	72 -1.4%	73 -1.8%
Weighted average shares, diluted	72 -1.5%	71 -2.5%	71 -1.7%	72 -0.8%	73 -1.0%	73 -1.1%	72 -1.6%	73 -1.7%	73 -1.7%
Other measures
Depreciation and amortization	184	46 +6.7%	46 +11.6%	45 +13.0%	47 +18.1%	43 +9.4%	41 +8.9%	40 +15.3%	40 +15.0%
EBITDA	964	313 +48.8%	225 +15.5%	222 +51.2%	204 +2.1%	211 +5.0%	195 +18.8%	147 -6.7%	199 +2.0%
Interest coverage	96.32x	70.37x	68.88x	93.21x	—	838.00x	1,537.00x	267.50x	—
Margins
Gross margin	37.59%	39.73%	37.74%	35.08%	37.75%	36.58%	35.73%	33.22%	36.54%
Operating margin	22.97%	30.58%	20.53%	20.96%	19.45%	20.83%	20.05%	15.33%	21.31%
Pretax margin	23.24%	30.61%	20.65%	21.32%	20.06%	21.36%	20.48%	15.83%	22.02%
Profit margin	18.81%	24.47%	17.65%	16.43%	16.41%	17.40%	17.20%	12.87%	17.37%
EBITDA margin	28.40%	35.83%	25.83%	26.31%	25.29%	26.17%	25.45%	21.06%	26.63%
Effective tax rate	21.31%	21.67%	17.88%	24.82%	20.62%	19.78%	19.24%	21.81%	22.32%

How these figures are calculated

Quarterly columns are single-quarter amounts. When a 10-Q reports only a year-to-date total, as cash flow statements do, the quarter is that total minus the previous quarter's year-to-date total. The fourth quarter is the annual report's full year minus the first nine months. A column marked YTD is a year-to-date total, shown when the earlier report needed for the single quarter is missing. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. The first column is the trailing twelve months through the latest quarter. More on our methodology.

New to this? Read How to Read an Income Statement, With a Real Example.

Company profile

Industry: Surgical & Medical Instruments & Apparatus (SIC 3841)
Listed as: WST (NYSE)
Fiscal year ends: December 31
Incorporated in: PA
Headquarters: Exton, PA
SEC filer status: Large accelerated filer
SEC CIK: 105770
Former names: WEST CO INC (until Feb 11, 1999)

Other Surgical & Medical Instruments & Apparatus companies

All 151 Surgical & Medical Instruments & Apparatus companies

Source: SEC EDGAR filings. This is company-reported data, not investment advice.