Charles River Labs Reaffirms FY22 Outlook; Q4 Results Top Estimates - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Wednesday, Charles River Laboratories International, Inc. (CRL) reaffirmed its earnings and adjusted earnings guidance for the full-year 2022 which was initiated on January 11. For fiscal 2022, the company continues to projects earnings in the range of $9.20 to $9.45 per share and adjusted earnings in the range of $11.50 to $11.75 per share on revenues growth of 13 to 15 percent and organic revenues growth of 12.5 to 14.5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $11.59 per share on revenue growth of 12.30 percent to $3.96 billion for the year. Analysts' estimates typically exclude special items.

As previously mentioned, the Company expects to benefit from a continuation of the robust client demand that it experienced last year and price increases.

For the fourth quarter, the company reported the net income attributable to common shareholders of $137.58 million or $2.67 per share, down from $143.19 million or $2.81 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was $2.49 per share, compared to $2.39 per share in the year-ago quarter.

Total revenue for the quarter increased 14.4 percent to $905.05 million from $790.99 million in the same quarter last year. Organic revenue growth was 10.5 percent.

The Street was looking for earnings of $2.43 per share on revenues of $888.27 million for the quarter.