Charles River Laboratories International
The 10-second takeaway
For the quarter ended June 29 (Q2), Charles River Laboratories International met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded slightly. Non-GAAP earnings per share dropped slightly. GAAP earnings per share dropped.
Margins shrank across the board.
Charles River Laboratories International chalked up revenue of $292.9 million. The 11 analysts polled by S&P Capital IQ looked for net sales of $293.8 million on the same basis. GAAP reported sales were 2.9% higher than the prior-year quarter's $284.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.73. The 15 earnings estimates compiled by S&P Capital IQ predicted $0.71 per share. Non-GAAP EPS of $0.73 for Q2 were 2.7% lower than the prior-year quarter's $0.75 per share. GAAP EPS of $0.56 for Q2 were 11% lower than the prior-year quarter's $0.63 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 35.0%, 140 basis points worse than the prior-year quarter. Operating margin was 14.7%, 260 basis points worse than the prior-year quarter. Net margin was 9.3%, 140 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $291.0 million. On the bottom line, the average EPS estimate is $0.71.
Next year's average estimate for revenue is $1.17 billion. The average EPS estimate is $2.82.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Charles River Laboratories International is hold, with an average price target of $45.50.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month. TMFDisclosureHere