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Dec 31, 2022
Charles River Labs Q4 2022 Earnings Report
Charles River Labs reported revenue increase in the fourth quarter of 2022, driven by the DSA segment, and provided 2023 guidance.
Key Takeaways
Charles River Laboratories announced its Q4 and full-year 2022 results, with Q4 revenue reaching $1.10 billion, a 21.5% increase year-over-year. GAAP EPS was $3.65, and non-GAAP EPS was $2.98. The company provided 2023 guidance, noting challenges with NHP supply but solid business fundamentals.
Fourth-quarter revenue reached $1.10 billion, up 21.5% year-over-year.
GAAP earnings per share were $3.65, a 36.7% increase from Q4 2021.
Non-GAAP earnings per share were $2.98, up 19.7% from Q4 2021.
The company is managing challenges related to NHP supply constraints.
Revenue by Segment
Forward Guidance
Charles River provided financial guidance for 2023, reflecting the impact of NHP supply constraints, which are expected to reduce consolidated revenue growth by approximately 200 to 400 basis points.
Positive Outlook
- Actions to improve the performance of CDMO business gain traction, which is expected to result in higher growth in the Manufacturing segment.
- Foreign exchange is projected to benefit reported revenue growth by up to 50 basis points.
- Foreign exchange is projected to benefit earnings per share by up to $0.25.
- The Company is focused on continuing to execute its strategy, drive growth and generate greater efficiency
- The Company will enhance its position as the scientific partner of choice to accelerate biomedical research and therapeutic innovation
Challenges Ahead
- NHP supply constraints are expected to reduce consolidated revenue growth forecast by approximately 200 to 400 basis points.
- NHP supply constraints will pressure the DSA segment’s revenue growth rate in 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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