West Pharmaceutical Services (WST) Revenue — Quarter Ended Mar 31, 2023
Revenue for the quarter decreased compared with the same period last year, but increased slightly from the immediate prior quarter. The company's operating results were lower year-over-year, as reflected in the decline in net cash provided by operating activities.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue for the quarter decreased compared with the same period last year, but increased slightly from the immediate prior quarter. The company's operating results were lower year-over-year, as reflected in the decline in net cash provided by operating activities.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$716.6M
Revenue reported for this quarter.
Quarter-over-quarter
+1.1%
Change from the immediately preceding quarter.
Year-over-year
-0.5%
Change from the comparable year-ago quarter.
Trailing four quarters
$2.9B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $771.3M | +6.6% |
| Sep 30, 2022 | $686.9M | -2.8% |
| Dec 31, 2022 | $708.7M | -3.0% |
| Mar 31, 2023 | $716.6M | -0.5% |
Revenue performance
Reported revenue was lower than the year-ago quarter, ending a streak of sequential declines with a modest rise from the preceding quarter.
Quarterly comparison
Compared with the prior quarter, revenue improved, while the year-over-year comparison shows a contraction. The company's cash flow from operations also decreased, which management attributed to lower operating results.
What to watch
Monitor whether the company's capital expenditures for additional manufacturing capacity will support future revenue growth.