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Here's What Key Metrics Tell Us About Charles River (CRL) Q2 Earnings
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Charles River Laboratories (CRL - Free Report) reported $1.06 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 8.9%. EPS of $2.69 for the same period compares to $2.77 a year ago.
The reported revenue represents a surprise of +1.09% over the Zacks Consensus Estimate of $1.05 billion. With the consensus EPS estimate being $2.63, the EPS surprise was +2.28%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: $209.95 million versus the three-analyst average estimate of $203.12 million. The reported number represents a year-over-year change of +12.6%.
Revenues- Discovery and safety assessment: $663.46 million versus $643.17 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +12.1% change.
Revenues- Manufacturing support: $186.53 million versus the three-analyst average estimate of $200.42 million. The reported number represents a year-over-year change of -4.3%.
Revenues- Products: $185.05 million versus the two-analyst average estimate of $197.12 million. The reported number represents a year-over-year change of -2.8%.
Revenues- Services: $874.89 million versus $847.14 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +11.8% change.
Operating income- Research Models and Services: $48.92 million versus $51.02 million estimated by three analysts on average.
Operating income- Unallocated Corporate Overhead: -$69.91 million versus the three-analyst average estimate of -$51.56 million.
Operating income- Discovery and safety assessment: $161.54 million compared to the $165.42 million average estimate based on three analysts.
Operating income- Manufacturing support: $24.40 million compared to the $49.92 million average estimate based on two analysts.
Shares of Charles River have returned -1% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Charles River (CRL) Q2 Earnings
Charles River Laboratories (CRL - Free Report) reported $1.06 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 8.9%. EPS of $2.69 for the same period compares to $2.77 a year ago.
The reported revenue represents a surprise of +1.09% over the Zacks Consensus Estimate of $1.05 billion. With the consensus EPS estimate being $2.63, the EPS surprise was +2.28%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: $209.95 million versus the three-analyst average estimate of $203.12 million. The reported number represents a year-over-year change of +12.6%.
- Revenues- Discovery and safety assessment: $663.46 million versus $643.17 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +12.1% change.
- Revenues- Manufacturing support: $186.53 million versus the three-analyst average estimate of $200.42 million. The reported number represents a year-over-year change of -4.3%.
- Revenues- Products: $185.05 million versus the two-analyst average estimate of $197.12 million. The reported number represents a year-over-year change of -2.8%.
- Revenues- Services: $874.89 million versus $847.14 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +11.8% change.
- Operating income- Research Models and Services: $48.92 million versus $51.02 million estimated by three analysts on average.
- Operating income- Unallocated Corporate Overhead: -$69.91 million versus the three-analyst average estimate of -$51.56 million.
- Operating income- Discovery and safety assessment: $161.54 million compared to the $165.42 million average estimate based on three analysts.
- Operating income- Manufacturing support: $24.40 million compared to the $49.92 million average estimate based on two analysts.
View all Key Company Metrics for Charles River here>>>Shares of Charles River have returned -1% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.