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Charles River (CRL) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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Charles River Laboratories (CRL - Free Report) reported $1.01 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 1.7%. EPS of $2.27 for the same period compares to $2.78 a year ago.
The reported revenue represents a surprise of +1.44% over the Zacks Consensus Estimate of $997.24 million. With the consensus EPS estimate being $2.05, the EPS surprise was +10.73%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Charles River performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Research Models and Services: $220.91 million versus the three-analyst average estimate of $202.98 million. The reported number represents a year-over-year change of +10.6%.
Revenues- Discovery and safety assessment: $605.45 million versus the three-analyst average estimate of $625.40 million. The reported number represents a year-over-year change of -8.6%.
Revenues- Manufacturing support: $185.20 million versus $169.61 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +10.7% change.
Revenues- Services: $816.86 million versus $834.54 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -4.7% change.
Revenues- Products: $194.70 million versus the two-analyst average estimate of $162.38 million. The reported number represents a year-over-year change of +13.2%.
Operating income- Research Models and Services Non-GAAP: $60.99 million versus the three-analyst average estimate of $49.89 million.
Operating income- Unallocated Corporate Overhead: -$65.69 million versus the three-analyst average estimate of -$73.90 million.
Operating income- Manufacturing support - Non-GAAP: $46.80 million compared to the $40.22 million average estimate based on three analysts.
Operating income- Discovery and safety assessment - Non-GAAP: $142.31 million compared to the $146.73 million average estimate based on three analysts.
Shares of Charles River have returned -4.9% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Charles River (CRL) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Charles River Laboratories (CRL - Free Report) reported $1.01 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 1.7%. EPS of $2.27 for the same period compares to $2.78 a year ago.
The reported revenue represents a surprise of +1.44% over the Zacks Consensus Estimate of $997.24 million. With the consensus EPS estimate being $2.05, the EPS surprise was +10.73%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Charles River performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenues- Research Models and Services: $220.91 million versus the three-analyst average estimate of $202.98 million. The reported number represents a year-over-year change of +10.6%.
- Revenues- Discovery and safety assessment: $605.45 million versus the three-analyst average estimate of $625.40 million. The reported number represents a year-over-year change of -8.6%.
- Revenues- Manufacturing support: $185.20 million versus $169.61 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +10.7% change.
- Revenues- Services: $816.86 million versus $834.54 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -4.7% change.
- Revenues- Products: $194.70 million versus the two-analyst average estimate of $162.38 million. The reported number represents a year-over-year change of +13.2%.
- Operating income- Research Models and Services Non-GAAP: $60.99 million versus the three-analyst average estimate of $49.89 million.
- Operating income- Unallocated Corporate Overhead: -$65.69 million versus the three-analyst average estimate of -$73.90 million.
- Operating income- Manufacturing support - Non-GAAP: $46.80 million compared to the $40.22 million average estimate based on three analysts.
- Operating income- Discovery and safety assessment - Non-GAAP: $142.31 million compared to the $146.73 million average estimate based on three analysts.
View all Key Company Metrics for Charles River here>>>Shares of Charles River have returned -4.9% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.