Every material Form 8-K West Pharmaceutical Services has filed with the SEC since March 11, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
West Pharmaceutical Services reported third-quarter 2026 net sales of $874.5 million and diluted earnings per share of $3.02, reflecting growth compared to the prior-year period. Driven by strong execution in its Proprietary Products segment, the company raised its full-year net sales and adjusted-diluted EPS guidance ranges.
Q3 2026 net sales reached $874.5 million, up 8.7% year-over-year, with diluted EPS of $3.02.
Full-year 2026 net sales guidance was increased to a range of $3.41 billion to $3.42 billion.
Full-year 2026 adjusted-diluted EPS guidance was raised to a range of $9.38 to $9.48.
The company repurchased $231 million of stock in the third quarter, bringing year-to-date repurchases to $685 million.
On October 26, 2026, West Pharmaceutical Services entered a new credit agreement with Bank of America as administrative agent. It includes a $750 million revolving facility and a $200 million term loan advanced on the effective date, and the company used the borrowings to repay $130.0 million outstanding under its 2019 credit agreement, which it terminated with no early termination penalties. The filing reports no change to earnings or guidance, but it sets new debt terms, including a maximum net leverage ratio of 3.50 to 1.0.
New credit agreement provides a $750 million revolving facility and a $200 million term loan, with a five-year term from October 26, 2026.
$130.0 million outstanding under the 2019 credit agreement was repaid in full on October 26, 2026, with no early termination penalties.
Borrowings are unsecured; the net leverage covenant caps the ratio at 3.50 to 1.0, or 4.00 to 1.0 during material acquisition periods.
Term loan quarterly amortization starts March 31, 2028, at $1.25 million to $2.5 million per quarter, with the balance due at maturity.
West Pharmaceutical Services reported second-quarter 2026 net sales of $872.3 million, up 13.8%, and diluted EPS of $2.15, up 18.1%. The company raised its full-year 2026 net sales guidance to $3.345 billion to $3.380 billion and its adjusted-diluted EPS guidance to $8.85 to $9.05, which suggests stronger expected profitability for shareholders.
Q2 2026 net sales of $872.3 million rose 13.8%; organic growth was 12.7%, led by HVP Components at $424.1 million, up 19.4%.
Q2 diluted EPS was $2.15, up from $1.82; adjusted-diluted EPS was $2.37, up 28.8%.
Full-year 2026 adjusted-diluted EPS guidance rose to $8.85 to $9.05 from $8.40 to $8.75.
Q3 2026 adjusted-diluted EPS guidance is $2.14 to $2.24, and Q3 net sales are expected at $820 million to $835 million.
West Pharmaceutical Services entered into an amended and restated crosslicense agreement and two distributorship agreements with Daikyo Seiko, effective July 14, 2026, which the company says are substantially similar to the 2017 agreements as amended in 2018 and 2019. West holds a 49% ownership interest in Daikyo, and the filing describes the agreements as sharing know-how and granting licenses for pharmaceutical packaging and delivery components, with each agreement running 10 years.
Agreements are effective July 14, 2026 and each has a 10-year term
West is the exclusive distributor of Daikyo products outside Japan, subject to limited exceptions
Daikyo is a non-exclusive distributor of West products in Japan
Full agreement texts will be filed as redacted exhibits to the 10-Q for the quarter ending September 30, 2026
West Pharmaceutical Services said its Board appointed Michel Lagarde, formerly Executive Vice President and Chief Operating Officer at Thermo Fisher Scientific, as President and Chief Executive Officer effective August 31, 2026, replacing Eric M. Green, who is retiring. Lead Independent Director Robert F. Friel will become Board Chair on the same date, and Mr. Lagarde will join the Board as a director.
Mr. Lagarde's annual base salary is $1,175,000, with a target annual incentive of 125% of salary, or $1,468,750.
His 2026 long-term incentive award has a total grant value of $8,611,111, and a one-time sign-on grant has a total grant date value of $6,875,000.
Matching inducement grants are based on his personal stock purchases between May 31, 2026 and the start date, capped at $2,500,000.
Mr. Green's transition was first disclosed on March 9, 2026, when he told the Board on March 6, 2026 of his intent to retire.
West Pharmaceutical Services said on May 7, 2026 that it had determined it experienced a material cyberattack, in which certain data was exfiltrated and certain systems were encrypted. The company took systems offline globally after detecting an intrusion on May 4, 2026, and says the incident has temporarily disrupted its business operations worldwide; the full restoration timeline has not been finalized and the financial impact has not been determined.
Intrusion first detected May 4, 2026; the company determined on May 7, 2026 that it was a material cyberattack
Certain data was exfiltrated and certain systems were encrypted; the investigation into the scope, including the data affected, is ongoing
Core enterprise systems have been restored, and shipping, receiving and manufacturing have restarted at some sites, with remaining sites in process
Impact on financial condition and results of operations has not been determined; law enforcement was notified and Palo Alto Networks' Unit 42 was engaged
West Pharmaceutical reported first-quarter 2026 net sales of $844.9 million, up 21.0% from a year earlier, and diluted EPS of $1.92, up 56.1%. The company raised its full-year 2026 net sales guidance to $3.295 billion to $3.350 billion and its adjusted-diluted EPS guidance to $8.40 to $8.75, and it repurchased $297.6 million of its shares during the quarter.
First-quarter net sales were $844.9 million, up 21.0% reported and 15.3% organic, versus $698.0 million a year earlier.
Diluted EPS was $1.92, up from $1.23; adjusted-diluted EPS was $2.13, up 46.9%.
Full-year 2026 adjusted-diluted EPS guidance rose to $8.40 to $8.75, from $7.85 to $8.20.
Cash and cash equivalents fell to $521.4 million at March 31, 2026, from $791.3 million at December 31, 2025, after share repurchases.
CEO Eric Green told the Board on March 6, 2026 that he intends to retire as President, Chief Executive Officer and Chair once a successor is hired. The Board is engaging an executive recruiting firm and expects the transition in the second half of 2026. The company also reaffirmed its 2026 financial guidance from its February 12, 2026 earnings release, which matters to shareholders because it is a leadership change at the top of the company with no change to the outlook.
Eric M. Green informed the Board on March 6, 2026 of his intent to retire as President, CEO and Chair of the Board once his successor is hired.
The Board expects the transition to occur in the second half of 2026 and is engaging a leading executive recruiting firm.
The company reaffirmed the 2026 financial guidance provided in its February 12, 2026 earnings release.
Green has been CEO since April 2015 and Chair since May 2022; the company says sales more than doubled and total shareholder return was approximately 350% during his tenure.
West Pharmaceutical Services reported fourth-quarter 2025 net sales of $805.0 million, up 7.5%, with reported diluted EPS of $1.82, up 2.2%, and adjusted diluted EPS of $2.04, up 12.1%. The company also issued 2026 guidance calling for adjusted diluted EPS of $7.85 to $8.20, which the filing says represents growth of 7.7% to 12.5%, and assumes a mid-year 2026 close of the SmartDose 3.5mL sale to AbbVie.
Q4 2025 net sales of $805.0 million rose 7.5%; organic growth was 3.3%, with HVP Components up 20.3%.
Q4 2025 diluted EPS was $1.82 (up 2.2%); adjusted diluted EPS was $2.04 (up 12.1%).
2026 guidance: net sales of $3.215 billion to $3.275 billion and adjusted diluted EPS of $7.85 to $8.20.
Full-year 2025 free cash flow was $468.9 million, up 69.6%; 2025 share repurchases totaled $134.0 million.
West Pharmaceutical Services reported third-quarter 2025 net sales of $804.6 million, up 7.7% from a year earlier, and diluted EPS of $1.92 versus $1.85. The company raised its full-year 2025 net sales guidance to $3.060 billion to $3.070 billion and adjusted-diluted EPS guidance to $7.06 to $7.11, and it introduced fourth-quarter guidance that is below the third-quarter level.
Q3 net sales $804.6 million (up 7.7%, organic up 5.0%); HVP Components rose 16.3% to $390.0 million
Q3 diluted EPS $1.92 vs. $1.85; adjusted-diluted EPS $1.96 vs. $1.85 a year earlier
Full-year 2025 adjusted-diluted EPS guidance raised to $7.06 to $7.11, from $6.65 to $6.85
Fourth-quarter 2025 net sales guidance of $790 million to $800 million and adjusted-diluted EPS guidance of $1.81 to $1.86
West Pharmaceutical Services said Senior Vice President, General Counsel and Corporate Secretary Kimberly Banks MacKay will leave the company. The company and Ms. MacKay have agreed to a transition period ending no later than December 31, 2025, and she will continue her current duties until she departs.
Kimberly Banks MacKay, SVP, General Counsel and Corporate Secretary, is leaving the company.
Transition period to end no later than December 31, 2025, to ensure continuity of responsibilities.
Ms. MacKay will continue her current duties until her departure.
Filing does not name a successor or give financial terms of the departure.
West Pharmaceutical Services reported second-quarter 2025 net sales of $766.5 million, up 9.2%, with diluted EPS of $1.82 versus $1.51 a year earlier. The company raised its full-year 2025 net sales guidance to $3.040 billion to $3.060 billion and its adjusted-diluted EPS guidance to $6.65 to $6.85, both up from prior ranges.
Q2 2025 net sales of $766.5 million rose 9.2%; organic net sales grew 6.8%.
Adjusted-diluted EPS was $1.84, compared with $1.52 in the second quarter of 2024.
Full-year 2025 adjusted-diluted EPS guidance rose to $6.65 to $6.85 from $6.15 to $6.35.
Board approved a fourth-quarter 2025 dividend of $0.22 per share, payable November 19, 2025 to holders of record as of November 12, 2025.
West Pharmaceutical Services appointed Robert McMahon, formerly CFO of Agilent Technologies, as Senior Vice President and Chief Financial Officer effective August 4, 2025, succeeding Bernard Birkett, who is retiring and will serve as Senior Advisor to the CEO through December 31, 2025. The filing discloses pay terms including an $800,000 base salary, a $3,115,000 sign-on bonus and a $4,200,000 replacement equity grant, which matter to shareholders as a change in the company's top finance role and a related compensation cost.
Robert McMahon becomes SVP and CFO effective August 4, 2025, overseeing finance, audit, treasury, tax, investor relations and procurement.
Offer terms include an $800,000 initial base salary and an annual bonus target of 80% of base salary.
One-time cash sign-on bonus of $3,115,000 and a replacement equity grant with a grant date fair value of $4,200,000.
LTI award with grant date fair value of $3,000,000 is scheduled for August 11, 2025.
West Pharmaceutical Services said CFO Bernard Birkett intends to retire later this year and will stay until a successor is found, then advise through December 31, 2025. The company also named Shane Campbell, formerly of Carlisle Companies, as Senior Vice President, Chief Proprietary Segment Officer, effective May 5, 2025, with a $600,000 base salary.
Bernard Birkett notified the company on April 22, 2025 of his intention to retire as SVP and CFO later this year; a search for a successor has started
Birkett will remain in his role until a successor is found, then serve in an advisory role until December 31, 2025
Shane Campbell joins May 5, 2025 with a $600,000 base salary, a 75% target bonus, a $1,000,000 LTI grant and a $400,000 sign-on RSU award
Campbell previously was Chief Commercial Officer of Carlisle Companies' Construction Materials business and spent 20 years at DuPont
West Pharmaceutical Services reported first-quarter 2025 net sales of $698.0 million, up 0.4%, but adjusted-diluted EPS fell to $1.45 from $1.56 a year earlier. The company raised its full-year 2025 net sales and adjusted-diluted EPS guidance and declared a third-quarter dividend of $0.21 per share, so shareholders see higher expected results for the year alongside weaker first-quarter profit.
Q1 2025 net sales were $698.0 million, up 0.4%; organic net sales grew 2.1%.
Reported-diluted EPS was $1.23 versus $1.55 a year earlier; adjusted-diluted EPS was $1.45 versus $1.56.
Full-year 2025 net sales guidance rose to $2.945 billion-$2.975 billion from $2.875 billion-$2.905 billion.
Full-year 2025 adjusted-diluted EPS guidance rose to $6.15-$6.35 from $6.00-$6.20; the guidance includes an estimate of $20 million to $25 million in tariff costs.
West Pharmaceutical Services disclosed that Cindy Reiss-Clark, its former Senior Vice President and Chief Commercial Officer and a named executive officer, left the company effective March 7, 2025. She signed a Separation Agreement and Release dated April 9, 2025, which provides one year of salary continuation and other benefits in exchange for a release of claims and continued restrictive covenants.
Departure effective March 7, 2025; role was Senior Vice President and Chief Commercial Officer
Salary continuation for one year at a salary of $489,500, plus continued welfare benefits
2025 payment of $57,526 for pro-rated Annual Incentive Plan target; outplacement services up to $15,000
West Pharmaceutical Services said Chief Commercial Officer Cindy Reiss-Clark left the company effective March 7, 2025. Aileen Kinsella, Head of Proprietary Product Sales, will manage the role's responsibilities on an interim basis, and the filing does not name a permanent successor.
Departure of Senior Vice President and Chief Commercial Officer Cindy Reiss-Clark, effective March 7, 2025
Aileen Kinsella, Head of Proprietary Product Sales, will manage leadership responsibilities on an interim basis
Filing does not state reasons for the departure or name a permanent replacement
Company announced the departure on March 7, 2025; the 8-K was filed March 11, 2025
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every West Pharmaceutical Services filing is on SEC EDGAR ↗. 8-K briefs of other companies →