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Jun 27, 2020
Charles River Labs Q2 2020 Earnings Report
Second quarter results reported an increase in revenue and GAAP earnings per share, driven by Discovery and Safety Assessment and Manufacturing Support segments.
Key Takeaways
Charles River Laboratories reported second-quarter revenue of $682.6 million, a 3.8% increase year-over-year. GAAP earnings per share were $1.34, while non-GAAP earnings per share were $1.58. The company increased its 2020 guidance and announced the proposed acquisition of Cellero.
Second-quarter revenue reached $682.6 million.
GAAP earnings per share were $1.34, and non-GAAP earnings per share were $1.58.
The company is increasing its 2020 guidance.
A proposed acquisition of Cellero in the high-growth cell therapy market was announced.
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
The Company is increasing its 2020 financial guidance, which was previously provided on May 7, 2020, as a result of the better-than-expected second quarter performance and its expectations that the revenue loss from the COVID-19 pandemic will be approximately $100 million in 2020, which is favorable to its prior estimate of $135 to $215 million.
Positive Outlook
- Revenue growth, reported 7.5% – 9.0%
- Revenue growth, organic 4.0% – 5.5%
- GAAP EPS estimate $4.70 – $5.00
- Non-GAAP EPS estimate $7.05 – $7.35
- Free cash flow $350 – $365 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income