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Segment Operating Income Breakdown
Breaks down profitability by segment to show which businesses generate the most operating income and margins. This helps identify high-margin drivers versus cost-heavy areas, assess pricing power and operational efficiency, and prioritize where capital allocation or cost control will most affect earnings and valuation.Proprietary Products’ operating income has rebounded from its early‑2024 trough to near‑peak levels by Q1’26, reflecting HVP/GLP‑1 mix, biologics/NovaPure momentum and Annex‑1 conversion that management cited as key drivers of margin expansion and upgraded FY26 guidance. West Vantage remains small and lumpy — Dublin ramp and contract timing have depressed near‑term profitability and create H2 variability, and a ~$40M CGM roll‑off adds back‑half headwind. The $1B buyback and raised guidance signal confidence but watch ramp timing and contract exits for sustainability.
Date | Proprietary Products | West Vantage |
|---|---|---|
Jun 30, 2026 | $211.90M | $12.90M |
Mar 31, 2026 | $189.20M | $15.60M |
Dec 31, 2025 | $189.70M | $9.80M |
Sep 30, 2025 | $175.20M | $22.30M |
Jun 30, 2025 | $161.70M | $17.80M |
Mar 31, 2025 | $130.60M | $13.50M |
Dec 31, 2024 | $162.30M | $16.20M |
Sep 30, 2024 | $158.20M | $21.80M |
Jun 30, 2024 | $131.00M | $17.20M |
Mar 31, 2024 | $126.30M | $17.10M |