Charles River Laboratories (CRL) Tops Q4 EPS by 6c
Charles River Laboratories (NYSE: CRL) reported Q4 EPS of $2.49, $0.06 better than the analyst estimate of $2.43. Revenue for the quarter came in at $905.1 million versus the consensus estimate of $888.31 million.
Reaffirms 2022 Guidance
The Company is reaffirming its 2022 financial guidance, which was originally provided on January 11, 2022. As previously mentioned, the Company expects to benefit from a continuation of the robust client demand that it experienced last year and price increases, which is expected to drive low-teens revenue growth in 2022. On a non-GAAP basis, earnings per share growth in 2022 is expected to be similar to revenue growth, as modest operating margin improvement will be largely offset by less favorable below-the-line items, including a higher tax rate.
The Company’s 2022 guidance for revenue growth, earnings per share, and cash flow is as follows:
2022 GUIDANCE |
|
Revenue growth, reported | 13.0% – 15.0% |
Contribution from acquisitions/divestitures, net (1) | -- |
Impact of 53rd week in 2022 | ~(1.5%) |
Unfavorable/(favorable) impact of foreign exchange | ~1.0% |
Revenue growth, organic (2) | 12.5% – 14.5% |
GAAP EPS estimate | $9.20 – $9.45 |
Acquisition-related amortization | $1.90 – $2.10 |
Acquisition and integration-related adjustments (3) | ~$0.10 |
Other items (4) | ~$0.10 |
Non-GAAP EPS estimate | $11.50 – $11.75 |
Cash flow from operating activities | ~$810 million |
Capital expenditures | ~$360 million |
Free cash flow | ~$450 million |
For earnings history and earnings-related data on Charles River Laboratories (CRL) click here.