West Pharmaceutical Services (WST) Q3 FY2026 earnings: revenue $874 million, up 8.7% on the year

West Pharmaceutical Services Inc. (WST) announced its results for Q3 FY2026, the quarter ended 30 September 2026, on 29 October 2026. Revenue was $874 million, up 8.7% on the same quarter a year earlier. Net income was $214 million, up 52.9% on the year, and diluted earnings per share $3.02. The figures are from the company's earnings press release; the 10-Q with the full statements is not filed yet, and this page fills in when it is.

Revenue$874 millionup 8.7%

Net income$214 millionup 52.9%

Diluted EPS$3.02$1.92 a year earlier

QuarterQ3 FY2026ended 30 September 2026

What management said

Guidance figures: 4 raised, 1 lowered.

Net sales grew 8.7%, organic 11.9%: Net sales were $874.5 million, up 8.7% from $804.6 million a year earlier. Organic growth was 11.9% after excluding foreign exchange and the SmartDose 3.5mL transaction.
Diluted and adjusted EPS both rose: Diluted EPS was $3.02, up 57.3% from $1.92. Adjusted-diluted EPS was $2.66, up 35.7%, after excluding unallocated items such as the SmartDose gain.
Full-year sales and EPS guidance raised: Management raised full-year net sales and adjusted-diluted EPS guidance and lowered capital spending guidance, as detailed in the guidance section.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Revenue	874	872	805	+8.7%
Net income	214	154	140	+52.9%
Diluted EPS	$3.02	$2.15	$1.92	+57.3%

$ million except per share.

Q3 FY2026 is from the company's press release of 29 October 2026; the other columns are from its 10-Q and 10-K filings. A release figure is shown when the release's own figure for an earlier quarter matches the filed one, so the line and its units are read right.

Quarterly results, the last 20 quarters filed

	Q3 FY2021	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	706	731	720	771	687	709	717	754	747	732	695	702	747	749	698	766	805	805	845	872
Cost of revenue	418	430	435	450	419	447	445	462	459	454	465	472	482	475	466	493	510	501	548	543
Gross profit	288	301	285	322	268	262	271	291	288	278	230	230	265	274	232	274	294	304	296	329
Gross margin	41%	41%	40%	42%	39%	37%	38%	39%	39%	38%	33%	33%	35%	37%	33%	36%	37%	38%	35%	38%
R&D	13.1	13.7	14.6	14.4	13.6	15.9	17.1	16.5	16.4	18.4	17.6	17.5	15.5	18.5	16.3	19.1	17.1	21.8	15.8	19.7
SG&A	91.9	98.0	83.4	81.5	66.3	85.7	86.0	88.4	89.0	90.0	86.7	83.0	83.5	85.3	88.0	95.9	103	107	99.5	118
Operating income	181	184	190	228	186	130	155	182	177	161	123	126	161	160	107	154	168	157	177	179
Operating margin	26%	25%	26%	30%	27%	18%	22%	24%	24%	22%	18%	18%	22%	21%	15%	20%	21%	19%	21%	21%
Interest expense	1.8	2.6	2.2	1.8	2.2	1.7	2.2	2.7	2.9	1.2	1.6	1.5	0.7	-0.8	0.4	0.1	0.2	-0.2	1.9	2.6
Pre-tax income	181	182	188	227	136	129	158	185	187	168	127	129	164	165	110	157	172	162	180	180
Tax rate	7%	19%	11%	19%	15%	22%	15%	19%	16%	21%	13%	17%	20%	22%	22%	19%	20%	21%	25%	18%
Net income	176	148	174	188	121	103	140	155	161	137	115	111	136	130	89.8	132	140	132	139	154
Net margin	25%	20%	24%	24%	18%	15%	20%	21%	22%	19%	17%	16%	18%	17%	13%	17%	17%	16%	16%	18%
Diluted EPS	$2.31	$1.90	$2.29	$2.48	$1.59	$1.36	$1.85	$2.06	$2.14	$1.83	$1.55	$1.51	$1.85	$1.78	$1.23	$1.82	$1.92	$1.82	$1.92	$2.15
Operating cash flow	190	161	151	173	169	231	138	169	230	239	118	165	180	190	129	177	197	251	89.9	124
Capital expenditure	65.3	76.5	65.8	66.1	57.8	94.9	82.1	75.4	95.8	109	90.6	100	81.3	105	71.3	75.2	63.3	76.1	42.7	43.2
Free cash flow	125	84.3	85.4	107	111	136	56.0	93.8	134	130	27.6	64.8	98.8	85.2	58.1	102	134	175	47.2	80.8
Buybacks	0.0	0.0	147	28.6	27.2	-0.1	60.1	173	27.8	177	267	187	52.4	54.4	134	0.5	0.0	0.0	298	157
Dividends paid	12.6	13.3	13.4	13.1	13.5	14.1	14.1	14.1	14.0	14.8	14.7	14.6	14.5	15.3	15.2	15.1	15.1	15.8	15.8	15.7
Shares outstanding	74m	74m	74m	74m	74m	74m	74m	74m	74m	74m	73m	73m	72m	72m	72m	72m	72m	72m	71m	70m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Earnings press release for the quarter ended 30 September 2026, filed with the SEC on 29 October 2026 with a Form 8-K: the release.