West Pharmaceutical raises FY24 adjusted EPS $7.63-$7.88 from $7.50-$7.75

Consensus $7.62. backs FY24 revenue view $3B-$3.03B, consensus $3.01B. The company said, “Full-year adjusted-diluted EPS guidance range includes an estimated headwind of approximately $0.04 based on current foreign currency exchange rates, which is an increase from prior guidance of $0.02. The updated guidance also includes EPS of $0.15 associated with first-quarter 2024 tax benefits from stock-based compensation. For the remaining quarters of the year, our EPS guidance range assumes a tax rate of 22.5% and does not include potential tax benefits from stock-based compensation. Any tax benefits associated with stock-based compensation beyond those recorded in the first-quarter 2024 would provide a positive adjustment to our full-year adjusted-diluted EPS guidance. Full-year 2024 capital spending guidance is unchanged and is expected to be $350 million.”