West Pharmaceutical Services, Inc. (WST) Q1 2023 Earnings Call Transcript

West Pharmaceutical Services, Inc. (NYSE:WST) Q1 2023 Results Conference Call April 27, 2023 9:00 AM ET

Company Participants

Quintin Lai - IR

Eric Green - CEO

Bernard Birkett - CFO

Conference Call Participants

Larry Solow - CJS Securities

Paul Knight - KeyBanc Capital Markets

Matt Larew - William Blair

Jacob Johnson - Stephens

Derik De Bruin - Bank of America

John Sourbeer - UBS

Quintin Lai

[Call Starts Abruptly] …conference call. We issued our financial results this morning, and the release has been posted in the Investors section on the company's website located at westpharma.com.

This morning, Eric Green and Bernard Birkett will review our financial results, provide an update on our business and present an update on our financial outlook for the full year 2023. There's a slide presentation that accompanies today's call and a copy of that presentation is available on the Investors section of our website.

On Slide 4, our safe harbor statement. Statements made by the management on this call and in the accompanying presentation contain forward-looking statements within the meaning of U.S. federal securities law. These statements are based on our beliefs and assumptions, current expectations, estimates and forecasts. The company's future results are influenced by many factors beyond the control of the company. Actual results could differ materially from past results as well as those expressed or implied in any forward-looking statements made here. Please refer to today's press release as well as any other disclosures made by the company regarding the risks to which it is subject, including our 10-K, 10-Q and 8-K reports.

During today's call, management will make reference to non-GAAP financial measures, including organic sales growth, adjusted operating profit, adjusted operating profit margin and adjusted diluted EPS. Reconciliations and limitations of the non-GAAP financial measures to the most comparable financial results prepared in conformity to GAAP are provided in this morning's earnings release.

I now turn the call over to our CEO, Eric Green. Eric?

Eric Green

Great. Thank you, Quintin, and good morning, everyone. Thanks for joining us today.

We will start on Slide 5. On April 14, West turned 100 years old. This is a major milestone that we're very proud of. Over the course of our 100-year history, the West name has come to mean so much to so many people.

I would like to recognize our founder, Herman O. West, and the past generations of leadership that have built West to who we are today. In addition, I want to especially thank our 10,000-plus team members who are motivated by our purpose of improving patient lives and making a difference in the communities in which we work and live.