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Dec 30, 2023
Charles River Labs Q4 2023 Earnings Report
Charles River Labs' Q4 2023 results were announced, featuring a revenue decrease and earnings per share of $3.62.
Key Takeaways
Charles River Laboratories reported a Q4 2023 revenue of $1.01 billion, a 7.9% decrease compared to Q4 2022. GAAP earnings per share were $3.62, while non-GAAP earnings per share were $2.46. The company's performance reflected moderating demand trends in the life sciences sector.
Q4 revenue was $1.01 billion, a decrease of 7.9% year-over-year.
GAAP earnings per share were $3.62, a decrease of 0.8% year-over-year.
Non-GAAP earnings per share were $2.46, a decrease of 17.4% year-over-year.
GAAP operating margin decreased to 13.1% from 14.9% in the fourth quarter of 2022.
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 providing financial guidance for 2024. The 2024 revenue growth outlook reflects a continuation of the more cautious biopharmaceutical demand environment that the Company experienced throughout most of 2023.
Positive Outlook
- Revenue growth, reported 1.0% – 4.0%
- Impact of divestitures/(acquisitions), net ~(0.5)%
- (Favorable)/unfavorable impact of foreign exchange ~(0.5)%
- Revenue growth, organic (1) 0.0% – 3.0%
- Non-GAAP EPS estimate $10.90 – $11.40
Challenges Ahead
- Acquisition-related amortization (2) ~$2.40
- Acquisition and integration-related adjustments (3) ~$0.10
- Costs associated with restructuring actions (4) ~$0.25
- Other items (5) ~$0.25
- The 2024 revenue growth outlook reflects a continuation of the more cautious biopharmaceutical demand environment that the Company experienced throughout most of 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income