🔹 Revenue: $766.5M (Est. $725.26M) 🟢; +9.2% YoY
🔹 Adj EPS: $1.84 (Est. $1.51) 🟢; +21% YoY
🔹 Organic Sales Growth: +6.8% YoY
FY25 Guidance (Raised):
🔹 Revenue: $3.04B–$3.06B (Prior: $2.945B–$2.975B) 🟢
🔹 Organic Sales Growth: 3%–3.75% (Prior: 2%–3%) 🟢
🔹 Adjusted EPS: $6.65–$6.85 (Est. $6.27) 🟢 (Prior: $6.15–$6.35)
🔹 FX Tailwind: $59M on revenue, $0.27 on EPS
🔹 Capex: $275M unchanged
Q2 Segment:
Proprietary Products
🔹 Revenue: $619.8M; UP +10.7% YoY
🔹 Organic Growth: +8.4% YoY
🔹 High-Value Product Components: 47% of sales; UP +11.3%
🔹 HVP Delivery Devices: 13% of sales; UP +30.0%
🔹 Standard Products: 21% of sales; UP +0.4%
🔹 Biologics / Pharma / Generics units: High-single digit organic growth
Contract-Manufactured Products
🔹 Revenue: $146.7M; UP +3.0% YoY
🔹 Organic Growth: +0.5% YoY
🔹 Growth led by self-injection devices; partially offset by healthcare diagnostic device declines
Other Metrics:
🔹 Operating Cash Flow (1H): $306.5M; UP +8.2% YoY
🔹 Free Cash Flow (1H): $160.0M (vs. $92.4M YoY)
🔹 Share Repurchase (1H): $134.0M; Avg Price: $242.55
CEO Commentary:
🔸 “We exceeded expectations for the quarter, driven by strong GLP-1 elastomer and HVP conversion momentum.”
🔸 “Performance was concentrated in higher margin products, driving strong margin expansion.”
🔸 “We’ve raised full-year revenue and EPS guidance due to our strong Q2 results and favorable FX impact.”
