Charles River Laboratories (CRL) Tops Q2 EPS by 10c; Bumps Outlook Higher

Charles River Laboratories (NYSE: CRL) reported Q2 EPS of $1.20, $0.10 better than the analyst estimate of $1.10. Revenue for the quarter came in at $434.1 million versus the consensus estimate of $425.08 million.

James C. Foster, Chairman, President and Chief Executive Officer, said, “I am very pleased to say that the strong financial performance we experienced in the first quarter continued in the second quarter of 2016. All three business segments reported revenue gains, which demonstrates continued solid execution of our business strategy, the successful initial integration of WIL Research, and our ongoing focus on exceptional client service. As a result, clients continue to choose to partner with Charles River for our science, our support, and the increasing breadth of our portfolio, which provides wider opportunities for them to leverage our expertise to achieve their goal of faster, more efficient and productive drug research.”

“The strength of our second-quarter results and our expectations for the second half of the year support our confidence that we will achieve our updated full-year guidance,” Mr. Foster concluded.

GUIDANCE:

Charles River Laboratories sees FY2016 EPS of $4.40-$4.50, versus the consensus of $4.39. Charles River Laboratories sees FY2016 revenue of $4.32-4.45 million.

For earnings history and earnings-related data on Charles River Laboratories (CRL) click here.

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