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Sep 25, 2021
Charles River Labs Q3 2021 Earnings Report
Charles River Labs' performance was driven by strong revenue growth and strategic execution.
Key Takeaways
Charles River Laboratories reported a strong third quarter with revenue of $895.9 million, a 20.5% increase from the third quarter of 2020. GAAP earnings per share were $2.01, while non-GAAP earnings per share were $2.70. The company updated its 2021 financial guidance to reflect recent divestitures and foreign exchange impacts.
Revenue increased by 20.5% year-over-year to $895.9 million.
GAAP earnings per share decreased by 1.0% year-over-year to $2.01.
Non-GAAP earnings per share increased by 15.9% year-over-year to $2.70.
The company updated its 2021 financial guidance to reflect recent divestitures and foreign exchange impacts.
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 updating its 2021 financial guidance. Foreign currency translation is now expected to benefit reported revenue growth by 1.5% to 2.0% in 2021. The Company is updating its GAAP and non-GAAP earnings per share guidance, primarily to reflect a lower-than-expected tax rate.
Positive Outlook
- Revenue growth, reported 19.5% – 20.5%
- Revenue growth, organic 13.5% – 14.5%
- GAAP EPS estimate $7.05 – $7.15
- Non-GAAP EPS estimate $10.20 – $10.30
- Free cash flow ~$500 million
Challenges Ahead
- Contribution from acquisitions/ divestitures, net (4.0%) – (4.5%)
- Unfavorable/(favorable) impact of foreign exchange (1.5%) – (2.0%)
- Acquisition-related amortization $1.90 – $1.95
- Acquisition and integration-related adjustments $0.65 – $0.70
- Venture capital and other strategic investment losses/(gains), net $0.26
Revenue & Expenses
Visualization of income flow from segment revenue to net income