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WST · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue grew 13.8% y/y to $872M, operating margin 20.5% vs 20.1%, net income $154M (+16.8% y/y).
Net income
$154M
up 16.8% y/y
Net sales
$872M
up 13.8% y/y
Operating profit
$179M
up 16.5% y/y
Gross profit
$329M
up 20.2% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Net sales | $872 · +13.8% |
| Cost of goods and services sold | $543 · +10.3% |
| Gross profit | $329 · +20.2% · 37.7% margin |
| Research and development | $19.7 · +3.1% |
| Selling, general and administrative expenses | $118 · +22.6% |
| Other expense (income), net | $12.8 · +146% |
| Operating profit | $179 · +16.5% · 20.5% margin |
| Interest (income) expense, net | $1.2 · −65.7% |
| Other nonoperating expense (income) | $0.2 · +0.0% |
| Income before income taxes and equity in net income of affiliated companies | $180 · +14.7% |
| Income tax expense | $32.2 · +6.6% · 17.9% effective rate |
| Equity in net income of affiliated companies | $6.1 · +22.0% |
| Net income | $154 · +16.8% · $2.15/sh · 17.7% margin |
Verdict: revenue grew 13.8% y/y to $872M, operating margin 20.5% vs 20.1%, net income $154M (+16.8% y/y).
Operating cash flow was $213.9 million and free cash flow was $128.0 million.
Source and notation
Source: West Pharmaceutical Services press release, 8-K EX-99.1 of 07/23/2026 (SEC EDGAR). Every figure was matched against the income statement in the release and checked against SEC XBRL.
Open as an image: WST, Q2 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
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Chart: “WST Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/wst/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/wst/q2-2026"><img src="https://whoreportstoday.com/t/wst/q2-2026/sankey.png" alt="WST Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/wst/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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<a href="https://whoreportstoday.com/t/wst/q2-2026">WST Q2 2026 earnings chart (Who Reports Today)</a>
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- Net sales increased 13.8%, with organic growth of 12.7%.
- Gross margin was 37.7% vs 35.7% a year earlier.
- Operating income was $179M, a 20.5% margin vs 20.1% a year earlier.
- The effective tax rate was 17.9% vs 19.2% a year earlier.
- Diluted EPS was $2.15 vs $1.82 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
WST — an American maker of containment and delivery systems for injectable drugs.
It supplies stoppers, seals and other packaging components, drug delivery devices and analytical lab services to biologic, generic and pharmaceutical companies. It earns money in two segments: Proprietary Products, its own packaging and delivery products, and Contract-Manufactured Products, which makes devices and components to customers' designs. · Source: annual report (Form 10-K, SEC)
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