Earnings summaries and quarterly performance for CHARLES RIVER LABORATORIES INTERNATIONAL.
Executive leadership at CHARLES RIVER LABORATORIES INTERNATIONAL.
James C. Foster
Detailed
Chair, President and Chief Executive Officer
CEO
BG
Birgit Girshick
Detailed
Corporate Executive Vice President and Chief Operating Officer
JW
Joseph W. LaPlume
Detailed
Corporate Executive Vice President, Corporate Development & Strategy
MG
Michael G. Knell
Detailed
Interim Chief Financial Officer
VC
Victoria Creamer
Detailed
Corporate Executive Vice President and Chief People Officer
Board of directors at CHARLES RIVER LABORATORIES INTERNATIONAL.
AC
Abraham Ceesay
Detailed
Director
CB
Craig B. Thompson
Detailed
Director
GL
George Llado, Sr.
Detailed
Director
ME
Mark Enyedy
Detailed
Director
MW
Martin W. Mackay
Detailed
Lead Independent Director
NC
Nancy C. Andrews
Detailed
Director
PG
Paul Graves
Detailed
Director
RK
Reshema Kemps-Polanco
Detailed
Director
SB
Steven Barg
Detailed
Director
VM
Virginia M. Wilson
Detailed
Director
Research analysts who have asked questions during CHARLES RIVER LABORATORIES INTERNATIONAL earnings calls.
CW
Casey Woodring
JPMorgan Chase & Co.
4 questions for CRL
Also covers: A, BLLN, HOLX +10 more
DW
David Windley
Jefferies Financial Group Inc.
4 questions for CRL
Also covers: CERT, CNC, CTLT +14 more
Elizabeth Anderson
Evercore ISI
4 questions for CRL
Also covers: AGL, ALGN, CAH +23 more
MS
Max Smock
William Blair & Company
4 questions for CRL
Also covers: CDMO, CERT, CTLT +7 more
Michael Ryskin
Bank of America Merrill Lynch
4 questions for CRL
Also covers: A, ALGN, AVTR +28 more
Patrick Donnelly
Citi
4 questions for CRL
Also covers: A, AVTR, BIO +21 more
CR
Charles Rhyee
TD Cowen
3 questions for CRL
Also covers: AMWL, BTSG, CAH +18 more
EC
Eric Coldwell
Robert W. Baird & Co.
3 questions for CRL
Also covers: AHCO, CAH, COR +9 more
JB
Justin Bowers
Deutsche Bank AG
3 questions for CRL
Also covers: AMED, CON, CTLT +9 more
TS
Tejas Savant
Morgan Stanley
3 questions for CRL
Also covers: ADPT, AKYA, AVTR +19 more
AH
Ann Hynes
Mizuho Financial Group
2 questions for CRL
Also covers: ARDT, BTSG, CI +17 more
Joshua Waldman
Cleveland Research Company
2 questions for CRL
Also covers: A, BRKR, ICLR +1 more
MS
Matthew Sykes
Goldman Sachs Group Inc.
2 questions for CRL
Also covers: A, ADPT, AVTR +21 more
AK
Anna Kruszenski
Barclays
1 question for CRL
Also covers: CERT
DL
Daniel Leonard
Stifel Financial Corp.
1 question for CRL
Also covers: A, AVTR, BIO +15 more
JJ
Jacob Johnson
Stephens Inc.
1 question for CRL
Also covers: AZTA, CDMO, CDXS +11 more
KC
Kyle Cruise
UBS
1 question for CRL
Also covers: WST
Luke Sergott
Barclays
1 question for CRL
Also covers: A, AVTR, BRKR +19 more
MS
Matt Sykes
Goldman Sachs Group, Inc.
1 question for CRL
Also covers: CTKB, MRVI, NTRA +4 more
Recent press releases and 8-K filings for CRL.
Charles River Labs outlines strategic divestitures and NAMs investment
CRL
M&A
New Projects/Investments
Demand Weakening
- Sequential improvement in book-to-bill since Q3, driven by an uptick in biotech funding (second-best month ever) and stable pharma demand under long-term contracts.
- Plans to divest ~7% of non-core revenue, with proceeds targeted for M&A in lab services/bioanalysis, NAMs technologies, and potential China expansion.
- Investing in lab services growth and targeting $70 million of efficiency savings through labor optimization, procurement improvements, offshoring, and automation.
- Expanding NAMs portfolio via internal initiatives and targeted acquisitions, while leveraging FDA guidance easing long-term NHP requirements for monoclonal antibody studies to accelerate discovery tools.
- Upgraded CDMO facilities now support additional cell- and gene-therapy capacity, and the microbial LAL testing business remains a high-margin, IP-protected cornerstone.
Dec 3, 2025, 3:00 PM
Charles River outlines strategic priorities at Evercore HealthCONx conference
CRL
Demand Weakening
M&A
Hiring
- Book-to-bill has improved sequentially since the start of Q3, supported by stable pharma demand via multi-year contracts and a rebound in biotech funding, with October as the second-best funding month ever.
- Lab services (DSA) sees targeted hiring and investments in procurement efficiency, offshoring, and automation to drive $70 M of margin improvement in 2026.
- Non-core asset divestiture (~7% of revenue) is underway, with proceeds earmarked for M&A, debt reduction, or share buybacks.
- NAMs strategy with $200 M in current revenue focuses on acquiring practical non-animal in vitro technologies for discovery; minimal near-term impact on safety testing beyond monoclonal antibodies.
- Geographic expansion considerations include re-entering the China market and bolstering bioanalysis and lab services to capitalize on local innovation and cost-sensitive workflows.
Dec 3, 2025, 3:00 PM
Charles River highlights improving book-to-bill, divestiture and investment plans
CRL
Demand Weakening
M&A
- Sequential improvement in book-to-bill since the start of Q3 2025, buoyed by second-best monthly biotech funding ever and stable pharma demand, although biotech remains the primary headwind tied to capital access.
- Plans to divest ~7% of revenue in non-core assets following a deep portfolio review, with proceeds targeted for strategic M&A, debt reduction, or share repurchases.
- Accelerating lab services (bioanalysis) growth through organic hiring and potential M&A to expand large-molecule bioanalysis and high-throughput clinical sample capabilities.
- Evaluating non-animal methods (NAMs) and geographic expansion (Europe, China) via dedicated internal and board committees, expecting NAMs to drive discovery enhancements but minimal near-term impact on safety testing.
- Manufacturing segment (CDMO) shows upgraded facilities and regulatory compliance, yet faces demand softness in clinical manufacturing; microbial (LAL) testing remains a high-margin, stable business.
Dec 3, 2025, 3:00 PM
Charles River Laboratories discusses Q3 demand trends and strategic initiatives
CRL
Demand Weakening
Share Buyback
M&A
- In Q3, CRL’s net book-to-bill was 0.82, flat sequentially, driven by a summer biotech lull but with improving month-over-month biotech bookings and stable pharma demand.
- Pricing in the safety assessment segment has stabilized since 2023/24, with no headwinds from price/mix and strategic discounts used to maintain market share amid softer demand.
- Discovery services (≈10% of DSA) remain soft due to constrained biotech funding, but CRL expects a rebound as funding improves and clients progress toward toxicology studies.
- Non-human primate (NHP) supply is stable after acquiring the Novaprim farm and SEC/DOJ clearances, enhancing internal capacity, cost competitiveness, and pricing flexibility for safety studies.
- CRL added $70 M of annualized cost-saving initiatives by 2026 through site consolidations, G&A efficiencies, procurement, and digital automation; management also plans potential share buybacks and targeted acquisitions, especially in bioanalytical services.
Nov 18, 2025, 11:30 AM
Charles River Laboratories outlines demand trends and strategic initiatives
CRL
Demand Weakening
Share Buyback
M&A
- Q3 net book-to-bill was 0.82, flat with Q2; biotech bookings have improved month-over-month while pharma demand remains stable, and pricing has stayed steady with a price-mix tailwind
- Holds roughly 30% market share in safety assessment; smaller competitors are discounting for utilization but CRL competes on regulatory compliance, client centricity, and quality
- Discovery services account for 10% of the DSA segment and have softened amid biotech funding constraints but are expected to rebound as funding improves
- Announced an additional $70 million of annualized cost savings by 2026 through site consolidations, G&A efficiencies, procurement initiatives, and digital automation; proceeds may support share repurchases or targeted acquisitions in bioanalysis and China
- Non-human primate supply is now stable after a Q4 shipment was pulled into Q3; Mauritius and Asian sources are secured, and Novaprim farm contracts step down end-2026 to bolster internal study competitiveness
Nov 18, 2025, 11:30 AM
Charles River Q3 2025 results and strategic review
CRL
Earnings
Guidance Update
Share Buyback
- Revenue of $1.0 B in Q3 2025, down 0.5% YoY (organic –1.6%), with operating margin at 19.7% and EPS of $2.43, a 6.2% decline.
- Full-year 2025 guidance narrowed: organic revenue now expected to decline 1.5%–2.5%, with non-GAAP EPS at $10.10–$10.30.
- Board’s strategic review targets divestiture of ~7% of 2025 revenue to generate $0.30 annualized EPS accretion, aiming for completion by mid-2026.
- Stock repurchase authorization refreshed at $1.0 B; Q3 free cash flow was $178.2 M, with full-year FCF now expected at $470–$500 M.
Nov 5, 2025, 2:00 PM
Charles River Laboratories reports Q3 2025 results
CRL
Earnings
Guidance Update
CFO Change
- Total revenue was down 0.5% reported and 1.6% organic; GAAP EPS of $1.10 (–17.3%) and non-GAAP EPS of $2.43 (–6.2%) in 3Q25.
- 2025 guidance narrowed: forecasted reported revenue decline of 1.5%–0.5%, organic decline of 2.5%–1.5%, and non-GAAP EPS of $10.10–$10.30.
- Generated $178.2 M in free cash flow in 3Q25 and, in October, the Board authorized a new $1.0 B share repurchase program.
- Michael G. Knell appointed interim CFO to lead the Finance organization until a permanent successor is named.
Nov 5, 2025, 2:00 PM
Charles River Laboratories reports Q3 2025 results and strategic update
CRL
Earnings
Guidance Update
Share Buyback
- The board’s strategic review aims to divest ~7% of 2025 revenue in underperforming/non-core assets by mid-2026, targeting $0.30 in annualized non-GAAP EPS accretion.
- Q3 2025 revenue was $1.0 billion (-0.5% YoY; ‑1.6% organic), operating margin 19.7%, and non-GAAP EPS $2.43 (-6.2% YoY).
- Full-year 2025 outlook narrowed to organic revenue down 1.5%–2.5% and non-GAAP EPS of $10.10–$10.30 at the top of the prior range.
- Board authorized a new $1 billion share repurchase program; Q3 free cash flow was $178.2 million, with full-year FCF raised to $470–$500 million.
Nov 5, 2025, 2:00 PM
Charles River Laboratories reports Q3 2025 results
CRL
Earnings
Guidance Update
Share Buyback
- Board supports strategic review to focus on core scientific portfolio, divest ~7% of 2025 revenue in underperforming assets (≈$0.30 annualized non-GAAP EPS accretion), $225 M cost savings by 2026 plus $70 M incremental savings; new $1 B stock buyback authorization ($450.7 M repurchased since Aug 2024)
- Q3 revenue $1.0 B (−0.5% YoY; −1.6% organic); DSA revenue $600.7 M (−3.1% organic) with $1.80 B backlog and 0.82 book-to-bill (net bookings $494 M); RMS margin 25% (+400 bps); Manufacturing revenue $190.7 M (−5.1% organic) with high single-digit growth in microbial solutions
- Narrowed FY2025 outlook: organic revenue down 1.5–2.5% (DSA −2.5–3.5%, Manufacturing flat to slightly negative, RMS stable); non-GAAP EPS at top of $10.10–10.30; operating margin flat to −30 bps
- Q3 free cash flow $178.2 M; FY FCF raised to $470–500 M; CapEx ~$200 M (5% of revenue); debt $2.2 B with 2.1x net leverage; $1 B remaining buyback capacity
Nov 5, 2025, 2:00 PM
Charles River Labs reports Q3 2025 results
CRL
Earnings
Guidance Update
M&A
- Board-backed strategic review focuses on core markets, divesting ~7% of 2025 revenue in underperforming/non-core assets by mid-2026, targeting annualized non-GAAP EPS accretion of ≥$0.30.
- Q3 EPS of $2.43, down 6.2% YoY; narrowed 2025 organic revenue decline guidance to 1.5%–2.5% and non-GAAP EPS to $10.10–$10.30.
- DSA segment revenue of $600.7 M (–3.1% organic YoY) with stable 0.82 book-to-bill and backlog of $1.80 B; RMS operating margin up to 25%; manufacturing revenue $190.7 M (–5.1% organic).
- Q3 free cash flow of $178.2 M; raised full-year free cash flow outlook to $470 M–$500 M; CapEx lowered to ~$200 M (~5% of revenue).
Nov 5, 2025, 2:00 PM
Quarterly earnings call transcripts for CHARLES RIVER LABORATORIES INTERNATIONAL.
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