Charles River Laboratories (CRL) Tops Q3 EPS by 5c; Narrows Outlook

Charles River Laboratories (NYSE: CRL) reported Q3 EPS of $1.18, $0.05 better than the analyst estimate of $1.13. Revenue for the quarter came in at $425.7 million versus the consensus estimate of $434.42 million.

GUIDANCE:

Charles River Laboratories sees FY2016 EPS of $4.44-$4.49, versus prior guidance of $4.40-$4.50 and the consensus of $4.46.

James C. Foster, Chairman, President and Chief Executive Officer, said, “We believe that the trends that drove revenue growth in the first half of the year continued in the third quarter, and will continue in the fourth quarter. As a result, we expect that reported revenue growth in 2016 will be in a range of 21% to 22%, and that growth for the legacy businesses will be between 7% to 8%, approximately 100 basis points higher at the midpoint than in 2015.”

“The strength of our unique portfolio, the success of our strategic acquisitions and targeted sales strategies, and our initiatives to increase operating effectiveness and efficiency, are the foundation for our growth in 2016 and in the future,” Mr. Foster concluded.

For earnings history and earnings-related data on Charles River Laboratories (CRL) click here.

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