Charles River Laboratories Slashes FY24 Outlook - Update

(RTTNews) - While reporting financial results for the second quarter on Wednesday, Charles River Laboratories International, Inc. (CRL) slashed its earnings, adjusted earnings, revenue growth and organic revenue growth guidance for the full-year 2024.

For fiscal 2024, the company now projects earnings in the range of $5.65 to $5.95 per share and adjusted earnings in the range of $9.90 to $10.20 per share on revenues decline of 4.5 to 2.5 percent, with organic revenue decline of 5.0 to 3.0 percent.

Previously, the company expected earnings in the range of $7.60 to $8.10 per share and adjusted earnings in the range of $10.90 to $11.40 per share on revenues growth of 1.0 to 4.0 percent, with organic revenues growth of flat to 3.0 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $10.99 per share on revenue growth of 2.10 percent to $4.22 billion for the year. Analysts' estimates typically exclude special items.

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