Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Vandana Singh

Charles River's Q4 Earnings Beats Street Expectation, Reaffirms FY22 Outlook

Charles River Laboratories International Inc's (NYSE:CRLQ4 sales increased 14.4% Y/Y to $905.1 million, beating the consensus of $888.27 million.

  • Acquisitions contributed 5.9% to consolidated fourth-quarter revenue growth. Organic revenue growth was 10.5%, driven by contributions from all three business segments. 
  • Adjusted EPS reached $2.49 higher than $2.39 posted a year ago and better than the consensus of $2.43.
  • Revenue for the Research Models and Services (RMS)segment was $165.6 million, +5.7%. Organic revenue growth of 13.3% was primarily driven by robust demand for research models & related services.
  • Discovery and Safety Assessment sales increased 7.9% to $534.1 million. Organically sales increased 6.7%, driven principally by the Safety Assessment business, with the Discovery Services business also contributing.
  • The manufacturing segment sales were $205.3 million, up 47.4% from $139.3 million. The acquisitions of Cognate BioServices and Vigene Biosciences contributed 27.8% to Manufacturing revenue growth.
  • Guidance: Charles River reaffirmed FY22 guidance with 13-15% sales growth and organic growth of 12.5% – 14.5%.
  • The Company expects adjusted EPS of $11.50 – $11.75, compared to the consensus of $11.59.
  • Price Action: CRL shares traded 3.01% lower at $303.24 on the last check Wednesday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.