Charles River Labs Q4 2020 Earnings Report
Key Takeaways
Charles River Laboratories reported a strong fourth quarter with revenue of $791.0 million, a 14.4% increase year-over-year. GAAP earnings per share were $2.81, and non-GAAP earnings per share were $2.39. The company also provided 2021 guidance and announced a definitive agreement to acquire Cognate BioServices.
Fourth-quarter revenue reached $791.0 million, up 14.4% from Q4 2019.
GAAP earnings per share for the fourth quarter were $2.81, while non-GAAP EPS was $2.39.
Organic revenue growth was 10.3%, driven by all three business segments.
Charles River announced an agreement to acquire Cognate BioServices, expanding its cell and gene therapy CDMO capabilities.
Charles River Labs
Charles River Labs
Charles River Labs Revenue by Segment
Forward Guidance
Charles River Labs provided revenue, EPS and free cash flow guidance for 2021, excluding the financial impact of the planned acquisition of Cognate. The 2021 revenue growth outlook reflects a continuation of robust client demand trends, as well as a favorable comparison to last year’s revenue impact from the COVID-19 pandemic. Earnings per share in 2021 are expected to benefit from higher revenue and modest operating margin improvement, partially offset by a higher tax rate.
Revenue & Expenses
Visualization of income flow from segment revenue to net income