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Mar 27, 2021
Charles River Labs Q1 2021 Earnings Report
Revenue increased by 16.6% and GAAP earnings per share increased by 17.6%.
Key Takeaways
Charles River Laboratories reported a strong first quarter in 2021, with revenue reaching $824.6 million, a 16.6% increase compared to the first quarter of 2020. GAAP earnings per share were $1.20, a 17.6% increase year-over-year, and non-GAAP earnings per share were $2.53, a 37.5% increase year-over-year. The company also updated its 2021 guidance, reflecting confidence in continued client demand.
First-quarter revenue reached $824.6 million, a 16.6% increase from the previous year.
GAAP earnings per share were $1.20, up 17.6% from Q1 2020.
Non-GAAP earnings per share were $2.53, a 37.5% increase from the same period last year.
The company updated its 2021 guidance due to strong first-quarter performance and anticipated continued client demand.
Charles River Labs
Charles River Labs
Charles River Labs Revenue by Segment
Revenue by Segment
Research Models and Services Revenue
CapyFin.comDiscovery and Safety Assessment Revenue
CapyFin.comManufacturing Solutions Revenue
CapyFin.com Forward Guidance
Charles River Laboratories updated its 2021 financial guidance, increasing revenue growth and non-GAAP EPS expectations due to a strong first quarter and continued robust client demand.
Positive Outlook
- Revenue growth, reported: 19% – 21%
- Revenue growth, organic: 12% – 14%
- GAAP EPS estimate: $5.95 – $6.20
- Non-GAAP EPS estimate: $9.75 – $10.00
- Free cash flow: ~$435 million
Challenges Ahead
- Contribution from acquisitions: (4.5%) – (5.0%)
- Unfavorable impact of foreign exchange: ~(2.5%)
- Acquisition-related amortization: $2.15 – $2.40
- Acquisition-related adjustments: $0.75 – $0.80
- Other items: ~$0.55
Revenue & Expenses
Visualization of income flow from segment revenue to net income