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.