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Charles River Laboratories (CRL) Tops Q1 EPS by 37c, Updates Guidance

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May 7, 2020 7:12 AM EDT

Charles River Laboratories (NYSE: CRL) reported Q1 EPS of $1.84, $0.37 better than the analyst estimate of $1.47. Revenue for the quarter came in at $707.1 million versus the consensus estimate of $691.09 million.

GUIDANCE:

Charles River Laboratories sees FY2020 EPS of $6.75-$7.10, versus the consensus of $6.44.

The Company’s revised guidance for revenue growth, earnings per share, and free cash flow is as follows:

2020 GUIDANCE

CURRENT

PRIOR

Revenue growth, reported

4.5% – 8.0%

13.0% – 14.5%

Less: Contribution from acquisitions (1)

~(4.0%)

(4.0%) – (4.5%)

Unfavorable/(favorable) impact of foreign exchange

0.5% – 1.0%

(1.0%) – (1.5%)

Revenue growth, organic (2)

1.5% – 4.5%

7.75% – 8.75%

GAAP EPS estimate

$4.25 – $4.60

$5.20 – $5.35

Acquisition-related amortization (3)

$1.75 – $1.80

$1.65 – $1.70

Charges related to global efficiency initiatives (4)

~$0.05

<$0.05

Acquisition-related adjustments (5)

~$0.20

~$0.25

Other items (6)

$0.25 – $0.32

$0.25 – $0.32

Venture capital investment losses/(gains) (7)

$0.18

--

Non-GAAP EPS estimate

$6.75 – $7.10

$7.45 – $7.60

Free cash flow (8)

$325 – $350 million

$350 – $360 million

Footnotes to Guidance Table:

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


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