Charles River Laboratories International Announces FY2023 Q3 Earnings Results on November 8, 2023
November 23, 2023
🌥️Earnings Overview
CHARLES RIVER LABORATORIES INTERNATIONAL ($NYSE:CRL) reported their earnings results for the third quarter of FY2023 on November 8 2023. Their total revenue for Q3 was USD 1026.6 million, which is 3.8% higher than Q3 of the previous year. Unfortunately, net income was USD 87.4 million, a decrease of 9.4% compared to Q3 of the previous year.
Price History
CRL opened at $179.0 and closed at $176.0, representing a 3.7% drop from the previous day’s closing price of $182.8. Analysts have attributed the drop in stock price to a combination of weaker-than-expected sales figures and lower-than-expected profits. This missed estimates and had a direct effect on the stock price. In spite of the downturn, Charles River Labs International is still considered to be a strong investment choice for those looking for long-term growth in the healthcare space.
The company has an extensive portfolio of products and services that have been proven to provide value to customers, and its strong balance sheet and healthy cash flow make it an attractive option for those looking to diversify their portfolios. The release of the earnings report for Q3 2023 provides investors with an opportunity to evaluate CRL’s performance, and to make informed decisions about their investments in the company. With continued focus on delivering value to customers through high-quality products and services, investors can expect to see steady returns in the long-term. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for CRL. More…
| Total Revenues | Net Income | Net Margin |
| 4.22k | 474.95 | 11.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CRL. More…
| Operations | Investing | Financing |
| 697.71 | -280.4 | -458.05 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for CRL. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.61k | 4.26k | 64.45 |
Key Ratios Snapshot
Some of the financial key ratios for CRL are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.3% | 16.2% | 17.9% |
| FCF Margin | ROE | ROA |
| 8.7% | 14.4% | 6.2% |
Analysis
After analyzing the financials for CHARLES RIVER LABORATORIES INTERNATIONAL, GoodWhale has identified it as a ‘gorilla’ company. This categorization indicates that the company has achieved stable and high revenue or earning growth due to its strong competitive advantage. The Star Chart shows that CHARLES RIVER LABORATORIES INTERNATIONAL is strong in growth and profitability, and weak in asset and dividend. Our analysis has also revealed that CHARLES RIVER LABORATORIES INTERNATIONAL has a high health score of 8/10 considering its cashflows and debt, indicating that the company is in a good position to pay off debt and fund future operations. As such, this company may be of great interest to long-term investors, given its strong competitive advantage and robust financials. Investors can also benefit from the company’s growth potential, as well as its high profitability. Additionally, investors may be interested in the potential dividends that the company may offer in the future. Thus, overall, CHARLES RIVER LABORATORIES INTERNATIONAL is an attractive option for investors who are looking for strong returns and a long-term investment. More…
Peers
The global market for contract research services is growing rapidly as more and more companies are outsourcing their research and development needs. This growth is being driven by the increasing costs of R&D, the need for faster timelines, and the desire to tap into the expertise of experienced professionals. As the market expands, so does the competition, and Charles River Laboratories International Inc is up against some stiff competition from the likes of Microba Life Sciences Ltd, IDenta Corp, and Eurofins Scientific SE.
– Microba Life Sciences Ltd ($ASX:MAP)
Denta Corp is a publicly traded company that provides dental products and services. The company has a market capitalization of 1.5 million as of 2022 and a return on equity of -10.42%. The company’s products and services include dental implants, dentures, and other dental prosthetics. Denta Corp also provides dental education and training services. The company was founded in 2006 and is headquartered in New York, New York.
– IDenta Corp ($OTCPK:IDTA)
Eurofins Scientific SE is a global leader in the provision of analytical testing and scientific services. The company has a market capitalization of 13.54 billion as of 2022 and a return on equity of 12.32%. The company provides a range of services including food testing, environmental testing, pharmaceutical testing, and forensics. Eurofins Scientific SE has a network of over 800 laboratories across 47 countries.
Summary
Charles River Laboratories International reported their Q3 FY2023 earnings as of November 8 2023. Total revenue saw an increase of 3.8% to USD 1026.6 million compared to the same period last year, however net income for the period dropped by 9.4%, down to USD 87.4 million. This prompted a drop in its stock price on the same day. For potential investors, this could be a sign that growth and profitability may not be as good as expected, and further research should be done to determine if investing in Charles River Laboratories International is a wise choice.
Related Posts
Recent Posts
Investing Everyone Can Do.
Investing shouldn’t be exclusive to a select few. We believe everyone should have the opportunity to grow their wealth. That’s why our app is designed to be accessible and user-friendly, even for beginners.
