Shares of West Pharmaceutical Services Inc. soared in pre-market trading on Thursday, after the medical device company reported better-than-expected third-quarter earnings and raised its full-year guidance.
For the third quarter of 2024, West Pharmaceutical posted adjusted earnings per share of $1.85, beating the consensus estimate of $1.50 among analysts. The company's revenue of $746.9 million also topped Wall Street's projection of $709.616 million.
Following the strong quarterly results, West Pharmaceutical raised its full-year 2024 net sales guidance to a range of $2.875 billion to $2.905 billion, compared to its prior guidance of $2.87 billion to $2.9 billion and the consensus estimate of $2.874 billion.
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