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Apr 01, 2023
Charles River Labs Q1 2023 Earnings Report
Charles River Labs reported a strong start to the year, driven by healthy demand and pricing in the DSA segment.
Key Takeaways
Charles River Laboratories announced first-quarter 2023 results with revenue of $1.03 billion, a 12.6% increase from Q1 2022. GAAP EPS was $2.01 and Non-GAAP EPS was $2.78. The company updated its 2023 guidance to reflect the strong first-quarter performance.
First-quarter revenue reached $1.03 billion, up 12.6% year-over-year.
GAAP earnings per share were $2.01, an 11.0% increase from Q1 2022.
Non-GAAP earnings per share were $2.78, a 1.1% increase from Q1 2022.
Organic revenue growth was 15.4%, driven by DSA and RMS segments.
Revenue by Segment
Forward Guidance
The Company is narrowing its revenue growth and earnings per share outlooks to reflect the strong first-quarter financial performance and expectations for the remainder of the year that are largely consistent with its initial outlook.
Positive Outlook
- Revenue growth, reported 2.0% – 4.5%
- Impact of divestitures/(acquisitions), net ~1.5%
- Impact of 53rd week in 2022 ~1.5%
- Unfavorable/(favorable) impact of foreign exchange 0.0% - (0.5)%
- Revenue growth, organic 5.0% – 7.5%
Challenges Ahead
- Cambodian NHP supply constraints
- Acquisition-related amortization ~$2.00
- Acquisition and integration-related adjustments ~$0.10
- Venture capital and other strategic investment losses/(gains), net $0.03
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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