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Charles River (CRL) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Charles River Laboratories (CRL - Free Report) reported $1.03 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 3.8%. EPS of $2.72 for the same period compares to $2.63 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1 billion, representing a surprise of +2.65%. The company delivered an EPS surprise of +15.74%, with the consensus EPS estimate being $2.35.
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: $186.85 million versus $196.43 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +3.7% change.
Revenues- Discovery and safety assessment: $664.03 million versus the three-analyst average estimate of $613.88 million. The reported number represents a year-over-year change of +7.2%.
Revenues- Manufacturing support: $175.75 million versus the three-analyst average estimate of $190.69 million. The reported number represents a year-over-year change of -7.3%.
Revenues- Services: $869.76 million compared to the $815.56 million average estimate based on two analysts. The reported number represents a change of +7% year over year.
Revenues- Products: $156.86 million versus the two-analyst average estimate of $187.89 million. The reported number represents a year-over-year change of -11%.
Operating income- Research Models and Services: $28.33 million versus the three-analyst average estimate of $50.68 million.
Operating income- Unallocated Corporate Overhead: -$49.92 million versus the three-analyst average estimate of -$53.28 million.
Operating income- Manufacturing support: $26.28 million compared to the $49.25 million average estimate based on three analysts.
Operating income- Discovery and safety assessment: $146.82 million compared to the $150.30 million average estimate based on three analysts.
Shares of Charles River have returned -6.6% over the past month versus the Zacks S&P 500 composite's +1.7% 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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Charles River (CRL) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Charles River Laboratories (CRL - Free Report) reported $1.03 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 3.8%. EPS of $2.72 for the same period compares to $2.63 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1 billion, representing a surprise of +2.65%. The company delivered an EPS surprise of +15.74%, with the consensus EPS estimate being $2.35.
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: $186.85 million versus $196.43 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +3.7% change.
- Revenues- Discovery and safety assessment: $664.03 million versus the three-analyst average estimate of $613.88 million. The reported number represents a year-over-year change of +7.2%.
- Revenues- Manufacturing support: $175.75 million versus the three-analyst average estimate of $190.69 million. The reported number represents a year-over-year change of -7.3%.
- Revenues- Services: $869.76 million compared to the $815.56 million average estimate based on two analysts. The reported number represents a change of +7% year over year.
- Revenues- Products: $156.86 million versus the two-analyst average estimate of $187.89 million. The reported number represents a year-over-year change of -11%.
- Operating income- Research Models and Services: $28.33 million versus the three-analyst average estimate of $50.68 million.
- Operating income- Unallocated Corporate Overhead: -$49.92 million versus the three-analyst average estimate of -$53.28 million.
- Operating income- Manufacturing support: $26.28 million compared to the $49.25 million average estimate based on three analysts.
- Operating income- Discovery and safety assessment: $146.82 million compared to the $150.30 million average estimate based on three analysts.
View all Key Company Metrics for Charles River here>>>Shares of Charles River have returned -6.6% over the past month versus the Zacks S&P 500 composite's +1.7% 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.