- Charles River Laboratories (NYSE:CRL) is trading 8.4% higher the company posted better-than expected Q3 result and raised the lower end of its profit guidance, helped by strong performance in its Discovery and Safety Assessment unit.
- The company now expects 2022 profit of $10.80-$10.95 from prior $10.70–$10.95, above analysts estimate of $10.78.
- It sees 2022 revenue growth of 10% - 11% from prior view of 9.0% – 11.0%.
- Revenue for the Discovery and Safety Assessment segment rose 16.5% Y/Y to $619.5M, driven by price increases and substantially higher study volume, both year-over-year and from first-half levels.
- Revenue for the Research Models and Services segment increased 5.2% Y/Y to $180.1M, helped by research model services, particularly the Insourcing Solutions (IS) business, as well as small research models in North America and China.
- Revenue rose 10.4% Y/Y to $989.2M and beat estimates by $18.77M.
- 3 Non-GAAP EPS of $2.63 beats by $0.13.
Charles River Laboratories rises 8% on Q3 earnings beat
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Symbol | Last Price | % Chg |
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CRL | - | - |
Charles River Laboratories International, Inc. |