- Charles River (NYSE:CRL) announced a retirement and transition plan for its CFO.
- David R. Smith, Corporate EVP and CFO will retire from company after a distinguished career in healthcare and finance leadership roles.
- Mr. Smith will remain with the company in his current position until a successor has been named and the transition has been completed, which is expected to occur before the end of 2022.
- The company has commenced a global search to identify its next Chief Financial Officer.
- In conjunction with the 40th Annual J.P. Morgan Healthcare Conference, Charles River is issuing 2022 financial guidance, sees FY22 revenue up 13%-15%, vs. consensus $3.92B and organic revenue growth of 12.5% – 14.5% vs. estimated growth of 11.39% Y/Y.
- The company expects GAAP EPS of $9.20 – $9.45 and Non-GAAP EPS of $11.50 – $11.75 vs. consensus of $11.46; cash flow from operating activities ~$810M; capital expenditures $360M and free cash flow $450M.