AI-extracted from the 10-Q filed 2026-07-23 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Q2 FY2026 net sales grew 13.8% YoY to $872.3M on 16.6% Proprietary Products growth (HVP demand), lifting gross margin 2.0pts to 37.7% despite a ~$7M cyber-incident hit to West Vantage.
Biggest Revenue Drivers
Proprietary Products$722.6M+16.6% YoY
Driven by strong customer demand for HVP components and delivery devices, including Biologics and GLP-1 products, plus sales price increases
West Vantage$149.7M+2.0% YoY
Sales price increases and higher production volumes, partially offset by ~$7M revenue impact from May 2026 cyber-incident production downtime
Biggest Revenue Drivers
Total revenue: $872.3M+13.8% YoY
Proprietary Products$722.6M+16.6% YoY
Driven by strong customer demand for HVP components and delivery devices, including Biologics and GLP-1 products, plus sales price increases
Within Proprietary Products
HVP Components49% of net sales+18.4% organic (ex-FX)
Continued strong customer demand for Biologics and GLP-1 products plus sales price increases
HVP Delivery Devices15% of net sales+29.2% organic (ex-FX)
Customer demand for self-injection devices, particularly SmartDose 3.5mL ahead of July 2026 divestiture closing
West Vantage$149.7M+2.0% YoY
Sales price increases and higher production volumes, partially offset by ~$7M revenue impact from May 2026 cyber-incident production downtime
Largest Expense Items
Cost of goods and services sold$543.1M
Rose with sales volume, partially offset by favorable HVP mix and price increases that expanded gross margin
Selling, general and administrative expenses$117.6M+22.6% YoY
Higher salaries/incentive compensation and nonrecurring professional fees tied to legal matters, the May 2026 cyber incident, and SmartDose M&A activity
Research and development$19.7M+3.1% YoY
Investment in primary injectables, elastomeric components, and drug containment/self-injection systems
Margins: Consolidated gross margin rose 2.0 points to 37.7%, led by favorable HVP mix (including GLP-1) and price increases in Proprietary Products, partially offset by West Vantage margin decline from cyber-incident-related production inefficiencies and plant cost inflation.
Watch Items from the Filing
In May 2026 the company suffered a material cybersecurity attack with data exfiltration and system encryption, disrupting global operations and cutting West Vantage revenue by ~$7M from production downtime.
Biologics customers represented 43% of net sales in Q2 2026, up from 38% a year ago, increasing revenue concentration in a single end-market.
A securities class action (filed May 2025) alleging Exchange Act violations remains in early stages, with a motion to dismiss pending; the company cannot yet estimate potential losses.
The company completed the sale of its SmartDose 3.5mL business to AbbVie on July 1, 2026 for ~$136M cash, expecting a $55-60M pre-tax gain in Q3 2026 but removing a growing product line.
The company repurchased $454.3M of stock in six months under a new $1.0B program authorized in February 2026, with $545.7M remaining as of June 30, 2026.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
McMahon Robert W.SVP & Chief Financial OfficerShares withheld for tax or exercise price · Aug 11, 2026
Campbell Shane AldenSVP, Proprietary SegmentShares withheld for tax or exercise price · May 12, 2026
Buthman Mark ADirectorGrant or award · May 4, 2026
Feehery William FDirectorGrant or award · May 4, 2026
Friel Robert FDirectorGrant or award · May 4, 2026
Joseph MollyDirectorGrant or award · May 4, 2026
Keller Deborah LDirectorGrant or award · May 4, 2026
Congress trading in WST
11 transactions in WST reported by 5 members of Congress under the STOCK Act, most recent trade Jul 22, 2025. Reported transactions, not recommendations.
About WEST PHARMACEUTICAL SERVICES INC (WST): stock profile, AI score and financials
WEST PHARMACEUTICAL SERVICES INC (WST) stock profile, AI quality score, and SEC EDGAR financial data, a Healthcare sector company. 13F Pro's AI-powered ranking engine scores WST at 64.8/100 on a composite quality score built from its SEC filings, placing it at rank #511 of 2,925 stocks — the top 25% of the AI-ranked universe. WST scores in the top quartile across balance sheet strength (91.5), profitability (75.2). Areas of concern include institutional flow (34.2), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), WEST PHARMACEUTICAL SERVICES INC reports quarterly revenue of $872.3M, net income of $154.0M, an operating margin of 20.5%. WST trades on the NYSE exchange and files with the SEC under CIK 105770. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate WST daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for WEST PHARMACEUTICAL SERVICES INC directly from SEC EDGAR.