Growth across all businesses within the Manufacturing segment is likely to have contributed to Charles River's Q3 revenues, offset by lower biopharmaceutical demand.
Charles River launches Retrogenix Non-Human Protein Library to provide early insights into how therapeutics interact with non-human protein targets in vitro.
Charles River and Lundbeck sign an agreement to use Logica to advance the discovery of novel neurological drugs.
Charles River collaborates with CEBINA as part of the DanubeNeuro program to advance innovation in neurodegeneration.
Charles River's new alliance with Insightec to advance therapeutic development using focused ultrasound in neuroscience.
Charles River (CRL) reported earnings 30 days ago. What's next for the stock?
Charles River came in with another set of soft numbers, indicating a period of weaker business ahead for the company. Management is scaling back CapEx into the business and focusing on buybacks, suggesting there's no viable reinvestment opportunities to grow. The intrinsic worth of the business is $215–$223/share under present conditions, in my opinion, warranting a hold.
Examine Charles River's (CRL) international revenue patterns and their implications on Wall Street's forecasts and the prospective trajectory of the stock.
Weak biopharma market challenges persist, impacting CRL's revenue and bottom-line growth. Cost streamlining initiatives in place to generate $150 million in annualized cost savings by FY25. Growth projection includes a 3% revenue decline in FY24, with a fair value of $220 per share based on DCF analysis.
Charles River's (CRL) Manufacturing business segments report organic revenue growth, partially offset by lower revenues in the DSA and RMS segments.
Charles River Laboratories International Inc (NYSE:CRL ) Q2 2024 Results Conference Call August 7, 2024 9:00 AM ET Company Participants Todd Spencer - Corporate Vice President of Investor Relations Jim Foster - CEO, President & Chairman Flavia Pease - Corporate Executive VP & CFO Conference Call Participants Matt Sykes - Goldman Sachs Eric Coldwell - Baird Elizabeth Anderson - Evercore ISI Dave Windley - Jefferies Patrick Donnelly - Citi Tejas Savant - Morgan Stanley Casey Woodring - JPMorgan Luke Sergott - Barclays Michael Ryskin - Bank of America Max Smock - William Blair Operator Ladies and gentlemen, thank you for standing by, and welcome to Charles River Laboratories Second Quarter 2024 Earnings Conference Call. Just a reminder, this call is being recorded.
Shares of Charles River Laboratories (CRL) tumbled over 12% in intraday trading Wednesday after the company said it expects to post a decline in sales for the full fiscal year, instead of growth.