Charles River Laboratories Q4 Results, Outlook Above Street View; Shares UP In Pre-market

(RTTNews) - Charles River Laboratories International, Inc. (CRL) Wednesday posted fourth-quarter results above analysts' view. The company's full-year profit outlook also came in above the consensus estimates.

Fourth-quarter net income was $187.1 million or $3.62 per share, a decrease from $187.4 million or $3.65 per share for the same period last year.

Excluding special items, earnings were $127.2 million or $2.46 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $2.40 per share. Analysts' estimates typically exclude special items.

For the quarter, revenue was $1.01 billion, a decrease of 7.9% from $1.10 billion in the previous-year quarter. The consensus estimate was for $991.25 million.

For fiscal 2024, Charles River Lab expects profit per share to be in the range of $10.90 - $11.40. Analysts see earnings of $10.79 per share for the full year. Revenue is expected to grow 1.0 percent - 4.0 percent for the year. The Street expects 3.20 percent growth in revenue.

Shares of Charles River Laboratories are up more than 4 percent in pre-market trading. The stock had closed at $220.24, down 2.45 percent on Tuesday. It has been trading in the range of 161.65 - 257.18 in the last 1 year.