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Sep 26, 2020
Charles River Labs Q3 2020 Earnings Report
Revenue increased and earnings per share rose due to higher revenue, operating margin improvement, and venture capital investment gains.
Key Takeaways
Charles River Laboratories reported strong third-quarter results with revenue of $743.3 million, an 11.3% increase from the previous year. GAAP earnings per share were $2.03, and non-GAAP earnings per share were $2.33. The company also increased its 2020 financial guidance.
Revenue increased by 11.3% year-over-year to $743.3 million, driven by growth in the Discovery and Safety Assessment and Manufacturing Support segments.
GAAP earnings per share increased by 39.0% year-over-year to $2.03, while non-GAAP earnings per share increased by 37.9% to $2.33.
The company's performance was bolstered by operating margin improvement and venture capital investment gains.
Charles River increased its 2020 financial guidance due to the better-than-expected third-quarter performance.
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 August 5, 2020, primarily as a result of the better-than-expected third quarter performance. The revenue loss from the COVID-19 pandemic will be approximately $70 million in 2020, which is favorable to its prior estimate of approximately $100 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income