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Jul 01, 2023
Charles River Labs Q2 2023 Earnings Report
Charles River Labs' second quarter results for 2023 were reported, with revenue of $1.06 billion and GAAP EPS of $1.89.
Key Takeaways
Charles River Laboratories reported second-quarter revenue of $1.06 billion, an 8.9% increase year-over-year. GAAP earnings per share were $1.89, while non-GAAP earnings per share were $2.69. The company has updated its 2023 guidance to reflect a solid first half performance.
Second-quarter revenue reached $1.06 billion, up 8.9% from the previous year.
GAAP earnings per share were $1.89, a decrease of 11.3% year-over-year.
Non-GAAP earnings per share were $2.69, a decrease of 2.9% year-over-year.
The company is narrowing its revenue growth and non-GAAP earnings per share outlooks for 2023.
Revenue by Segment
Forward Guidance
The company is narrowing its revenue growth and non-GAAP earnings per share outlooks to largely reflect its solid first-half financial performance and the successful implementation of mitigation efforts around NHP supply constraints.
Positive Outlook
- Solid first-half financial performance.
- Successful implementation of mitigation efforts around NHP supply constraints.
Challenges Ahead
- Near-term demand trends as biopharmaceutical clients appear to be reprioritizing their pipelines and tightening R&D budgets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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