Here's What Key Metrics Tell Us About Charles River (CRL) Q2 Earnings

Core Insights - Charles River Laboratories (CRL) reported revenue of $1.03 billion for the quarter ended June 2024, a decrease of 3.2$2.80 from $2.69 in the previous year [1] - The revenue matched the Zacks Consensus Estimate, resulting in a slight surprise of +0.09$206.39 million, surpassing the average estimate of $200.58 million, but reflecting a year-over-year decline of -1.7$627.42 million, below the average estimate of $637.52 million, marking a -5.4$192.31 million, showing a year-over-year increase of +3.1% [5] - Services revenues totaled $842.90 million, slightly below the average estimate of$845.77 million, with a year-over-year decline of -3.7% [6] - Products revenues were $183.22 million, exceeding the estimate of$182.16 million, but reflecting a -1% change from the previous year [7] Operating Income Analysis - Non-GAAP operating income for Research Models and Services was $47.70 million, below the average estimate of$48.60 million [8] - Non-GAAP operating income for Discovery and Safety Assessment was $170.14 million, exceeding the estimate of$156.36 million [8] - Non-GAAP operating income for Manufacturing Support was $51.20 million, slightly above the average estimate of$50.39 million [8] - Unallocated Corporate Overhead showed a loss of -$53.90 million, better than the estimate of -$62.33 million [9] - Operating income for Research Models and Services was $29.95 million, below the estimate of$43.59 million [9] - Operating income for Discovery and Safety Assessment was $138.38 million, exceeding the estimate of$131.44 million [9] - Manufacturing Support operating income was $37.23 million, below the estimate of$42.15 million [10] Stock Performance - Charles River's shares have returned +13.4% over the past month, contrasting with the Zacks S&P 500 composite's -5.9% change [10] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [10]