Charles River Laboratories International Reports Earnings Results for Q2 2023
August 24, 2023
🌥️Earnings Overview
On August 9, 2023, CHARLES RIVER LABORATORIES INTERNATIONAL ($NYSE:CRL) reported their earnings results for the quarter ending June 30, 2023. Total revenue for the quarter amounted to USD 1059.9 million, an 8.9% year-over-year increase. Unfortunately, net income decreased 11.3%, to USD 97.0 million, compared to the same period in the previous year.
Price History
The company saw a surge in its stock price, with the opening price of $212.3 and closing price of $215.8, representing a 4.6% increase from the previous closing price of 206.2. The strong financial performance was backed by CRL’s continued investments in research, development and partnerships with other leading biotech and pharmaceutical companies. The company also announced plans to expand its workforce in order to better serve their clients and maintain their competitive edge in the industry.
Overall, Charles River Laboratories International achieved strong results in the second quarter of 2023, with their stock price reaching record highs and their financials showing healthy growth. The company’s strategic investments and partnerships are likely to be beneficial for shareholders in the future, and should result in further revenue growth for CRL. 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 |
| 4.18k | 484.03 | 11.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CRL. More…
| Operations | Investing | Financing |
| 625.04 | -293.03 | -346.77 |
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 |
| 7.77k | 4.47k | 63.42 |
Key Ratios Snapshot
Some of the financial key ratios for CRL are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.0% | 20.2% | 17.8% |
| FCF Margin | ROE | ROA |
| 6.9% | 14.6% | 6.0% |
Analysis
At GoodWhale, we have conducted an analysis of CHARLES RIVER LABORATORIES INTERNATIONAL’s financials. Based on our Risk Rating, we have determined that this is a medium risk investment. This is based on a combination of financial and business aspects. Additionally, we have detected two risk warnings in the balance sheet that non-financial investors should be aware of. To get the full picture of our analysis, be sure to register with us to check it out. We look forward to helping you understand the complexities of investing in this company. 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 recently reported their earnings for the second quarter of FY2023, with total revenue climbing 8.9% year-over-year to USD 1059.9 million. Net income, however, decreased 11.3% to USD 97.0 million. Despite the lower net income, investors responded positively to the news and the stock price increased on the same day.
For investors looking for growth opportunities in the life sciences market, Charles River Laboratories International may be an attractive option. With their strong revenue growth and ability to weather decreasing net income, the company offers a balance of risk and reward that could be appealing for many investors.
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