Charles River Laboratories (CRL) Tops Q1 EPS by 34c; Raises Outlook

Charles River Laboratories (NYSE: CRL) reported Q1 EPS of $2.53, $0.34 better than the analyst estimate of $2.19. Revenue for the quarter came in at $824.6 million versus the consensus estimate of $798.53 million.

James C. Foster, Chairman, President and Chief Executive Officer, said, “Our first-quarter performance demonstrates the power of our unique, non-clinical portfolio and the strength of the biopharmaceutical market environment. A global focus on scientific innovation is driving record levels of investment in the biopharmaceutical industry, which is generating biomedical breakthroughs across multiple therapeutic areas at a rapid pace. We believe these factors are resulting in unprecedented client demand across most of our businesses.”

“To maintain and enhance our position as the leading, non-clinical CRO, we are strategically expanding our portfolio and enhancing our scientific capabilities, especially in the use of more complex research techniques and advanced drug modalities such as cell and gene therapies. These investments are enabling us to offer greater value to our clients and capitalize on the significant growth opportunities,” Mr. Foster concluded.

GUIDANCE:

Charles River Laboratories sees FY2021 EPS of $9.75-$10.00, versus the consensus of $9.24.

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

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