Charles River Labs Improves FY22 Revenue Growth Outlook; 1st quarter results Main estimates

(RTTNews) – While reporting its first quarter financial results on Wednesday, Charles River Laboratories International, Inc. (CRL) reaffirmed its guidance for adjusted earnings and organic revenue growth for the full year 2022, while raising the outlook for annual revenue growth.

For fiscal 2022, the company continues to expect earnings of between $8.70 and $8.95 per share and adjusted earnings of between $11.50 and $11.75 per share on revenue growth of 13 .5 to 15.5% and organic revenue growth of 12.5 to 14.5%.

Previously, the company forecast earnings of between $9.20 and $9.45 per share and adjusted earnings of between $11.50 and $11.75 per share on 13-15% revenue growth and growth. organic revenue from 12.5 to 14.5%.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $11.64 per share on revenue growth of 13.60% to $4.02 billion for the year. Analyst estimates generally exclude special items.

For the first quarter, the company reported net income attributable to common shareholders of $93.02 million or $1.81 per share, up from $61.53 million or $1.20 per share in the last quarter. ‘last year.

Excluding items, adjusted earnings for the quarter were $2.75 per share, compared to $2.53 per share in the prior year quarter.

Total revenue for the quarter increased 10.8% to $913.93 million from $824.57 million in the same quarter last year. Organic revenue growth was 9.4%.

The Street was looking for earnings of $2.72 per share on revenue of $910.10 million for the quarter.

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