Stevanato Group Q2 2026 Earnings Call: Complete Transcript

Stevanato Group (NYSE: STVN ) held its second-quarter earnings conference call on Tuesday.

Below is the complete transcript from the call.

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View the webcast at Summary Stevanato Group reported an 8% year-over-year revenue growth to $302 million for Q2 2026, driven by a 9% increase in the Biopharmaceutical and Diagnostic Solutions segment and a 16% increase in High Value Solutions revenue.

The company completed the divestiture of its California-based subsidiary, Balda C.

Brewer, to focus on high-value, integrated drug delivery systems, which is expected to be accretive to margins.

Strong demand for injectable biologics, particularly GLP-1 therapies, is driving growth, with Alina's regulatory approval in Europe marking a significant milestone for Stevanato's proprietary drug delivery systems.

The Engineering segment saw a 2% decline in revenue but improved margins due to optimization efforts, with ongoing growth investments in new plants in the US and Italy to meet rising demand.

The company narrowed its full-year guidance, expecting revenue between $1.26 billion to $1.28 billion and adjusted EBITDA between $335 million to $345.2 million, with a focus on expanding High Value Solutions to capture growing opportunities in injectable therapies.

Full Transcript OPERATOR (Operator) Good afternoon, this is the Chorus Call conference operator.

Welcome and thank you for joining the Stevanato Group half year 2026 financial results conference call.

As a reminder, all participants are in listen-only mode and after the presentation there will be an opportunity to ask questions.

Should anyone need assistance during the conference call, they may signal an operator by pressing zero on their telephone.

At this time I would like to turn the conference over to Ms.

Lisa Miles, Chief Communications and IR Officer.

Please go ahead, Madam.

Lisa Miles, Chief Communications and IR Officer Good morning and thank you for joining us.

With me today is Franco Stevanato, Chairman and Chief Executive Officer, and Marco Delago, Chief Financial Officer.

We have posted a presentation to accompany today's results on the Investor Relations page of our website, which can be located under the Financial Results tab.

I want to remind everyone that some statements being made today are forward looking and based on current expectations.

Actual results may differ materially due to risks outlined in Item 3D, Risk Factors, of our most recent Annual Report on Form 20-F filed with the SEC.

Please review the safe harbor statement included at the beginning of today's presentation and in our press release.

The company undertakes no obligation to revise or update these forward-looking statements except as required by law.

Today's presentation may include non-GAAP financial information.

Management uses these measures internally to assess performance and believes they may be helpful for investors in evaluating the quality of our financial results, identifying trends in our performance, and providing meaningful period-to-period comparisons.

For a reconciliation of these non-GAAP measures, please refer to the company's most recent earnings press release, and with that, I'll hand the call over to Franco Stevanato.

Franco Stevanato, Executive Chairman Thank you for joining us.

Today we review our second quarter performance, share an update on market trends in our two segments including our investment projects, and discuss the current environment.

Our second quarter financial results were largely in line with our expectations, highlighted by solid revenue growth and a better mix of high value solutions that drove expanded margins and adjusted EBITDA of 26%.

Revenue grew 8% year over year, driven by a 9% revenue increase in the biopharmaceutical and diagnostic solutions segment, which offset a slight decline in the engineering segment.

Revenue from high value solutions grew 16% and represented 45% of total company revenue in the second quarter of 2026, driven by a 30% increase in revenue from biologics, the fastest growing end market.

Revenue related to GLP-1s was approximately 22 to 23% of total company revenue.

As we disclosed this morning, we completed the divestiture of our California-based subsidiary Balda C.

Brewer, which specializes in contract manufacturing services primarily for consumables and point-of-care diagnostic applications.

This initiative represents another step consistent with our long-term goal to continue optimizing our footprint and accelerating the transition towards more complex, differentiated, and integrated drug delivery systems.