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Charles River Laboratories International Inc CRL Stock Quote

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Charles River Posts Q3 Results In Line With Expectations; Maintaining $260 FVE, Shares Undervalued

Rachel Elfman Equity Analyst

Analyst Note

| Rachel Elfman |

Charles River reported third-quarter results in line with our expectations. Quarterly revenue reached $989 million, representing 10% growth year over year. The company continues to benefit from strong booking demand and a robust backlog. While foreign exchange headwinds and interest rate increases are continuing to impact the company in the near term, we maintain our positive long-term outlook. The impact of foreign currency translation reduced Charles Rivers’ reported revenue by 4.5%. Excluding the effect of these items, organic revenue growth of 15% was driven by contributions from all three business segments.

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Key Statistics CRL

Company Profile CRL

Business Description

Charles River Laboratories was founded in 1947 and is a leading provider of drug discovery and development services. The company’s research model & services segment is the leading provider of animal models for laboratory testing, which breeds and delivers animal research models with specific genetic characteristics for preclinical studies around the world. The discovery & safety assessment segment includes services required to take a drug through the early development process, including discovery services. The manufacturing support segment includes microbial solutions, which provides in vitro (non-animal) testing products, biologics testing services, and avian vaccine services.

251 Ballardvale Street
Wilmington, MA, 01887
T +1 781 222-6000
Industry Diagnostics & Research
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 20,000

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