Free Post Earnings Research Report: Charles River’s Revenue Grew 9%; EPS Surged 36.7%

Stock Monitor: iKang Healthcare Post Earnings Reporting

LONDON, UK / ACCESSWIRE / December 26, 2017 / Active-Investors.com has just released a free earnings report on Charles River Laboratories International, Inc. (NYSE: CRL) (“Charles River”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CRL. The Company posted its financial results on November 10, 2017, for the third quarter of the fiscal year 2017. The medical research equipment and services provider’s revenue and adjusted EPS surpassed analysts’ expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Charles River Laboratories International most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the three months ended September 30, 2017, Charles River’s total revenues increased 9%, or 6.3% on an organic basis, to $464.23 million from $425.72 million in Q3 FY16. The Company’s total revenue numbers surpassed analysts’ expectations of $459.4 million.

During Q3 FY17, Charles River’s operating income increased 25.8% to $73.98 million from $58.80 million in the same period of last year. For the reported quarter, the Company’s operating margin increased 210 basis points to 15.9% of revenue from 13.8% of revenue in Q3 FY16. For the reported quarter, the Company’s adjusted operating margin decreased 90 basis points to 18.8% of revenue from 19.7% of revenue in Q3 FY16.

During Q3 FY17, Charles River’s earnings before tax (EBT) increased 40% to $72.94 million from $53.26 million in the comparable period of last year. For the reported quarter, the Company’s EBT margin increased 320 basis points to 15.7% of revenue from 12.5% of revenue in Q3 FY16.

For the reported quarter, Charles River’s net income increased 39% to $52.47 million on a y-o-y basis from $37.74 million in Q3 FY16. During Q3 FY17, the Company’s diluted earnings per share (EPS) increased 36.7% to $1.08 on a y-o-y basis from $0.79 in the corresponding period of last year. For the reported quarter, Charles River’s adjusted net income increased 10.9% to $62.88 million on a y-o-y basis from $56.70 million in Q3 FY16. During Q3 FY17, the Company’s adjusted diluted EPS increased 10.2% to $1.30 on a y-o-y basis compared to negative $1.18 in Q3 FY16, surpassing analysts’ expectations of $1.22.

Segment Details

Research Models and Services – During Q3 FY17, the Company’s Research Models and Services segment’s revenue increased 0.9% to $122.02 million from $120.93 million in the same period of last year. For the reported quarter, the segment’s operating margin decreased 60 basis points to 25.2% of revenue from 25.8% of revenue in Q3 FY16. For the reported quarter, the segment’s adjusted operating margin decreased 180 basis points to 25.5% of revenue from 27.3% of revenue in Q3 FY16.

Discovery and Safety Assessment – During Q3 FY17, the Company’s Discovery and Safety Assessment segment’s revenue increased 14.4% to $246.95 million from $215.82 million in the comparable period of last year. For the reported quarter, the segment’s operating margin increased 440 basis points to 18.9% of revenue from 14.5% of revenue in Q3 FY16. For the reported quarter, the segment’s adjusted operating margin decreased 30 basis points to 22.4% of revenue from 22.7% of revenue in Q3 FY16.

Manufacturing Support – During Q3 FY17, the Company’s Manufacturing Support segment’s revenue increased 7.1% to $95.27 million from $88.98 million in the corresponding period of last year. For the reported quarter, the segment’s operating margin increased 350 basis points to 33.5% of revenue from 30% of revenue in Q3 FY16. For the reported quarter, the segment’s adjusted operating margin increased 270 basis points to 36.5% of revenue from 33.8% of revenue in Q3 FY16.

Balance Sheet

As on September 30, 2017, Charles River’s cash and cash equivalents increased 5.1% to $123.62 million from $117.63 million as on December 31, 2016. For the reported quarter, the Company’s long-term debt, net, and capital leases decreased 4.3% to $1.16 billion from $1.21 billion in Q4 FY16.

For the reported quarter, the Company’s net trade receivables increased 16% to $422.34 million from $364.05 million in Q4 FY16. For the reported quarter, the Company’s accounts payable decreased 3.3% to $66.23 million from $68.49 million in Q4 FY16.

In the first nine months of 2017, the Company’s cash provided by operating activities decreased 2.2% to $193.84 million from $198.25 million in the same period of last year.

Outlook

For FY17, the Company expects adjusted diluted EPS to be in the range of $5.08 – $5.18.

Stock Performance Snapshot

December 22, 2017 – At Friday’s closing bell, Charles River Laboratories International’s stock slightly dropped 0.24%, ending the trading session at $108.51.

Volume traded for the day: 159.74 thousand shares.

Stock performance in the last month – up 6.08%; previous three-month period – up 2.52%; past twelve-month period – up 45.89%; and year-to-date – up 42.42%

After last Friday’s close, Charles River Laboratories International’s market cap was at $5.15 billion.

Price to Earnings (P/E) ratio was at 26.50.

The stock is part of the Healthcare sector, categorized under the Medical Laboratories & Research industry.

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