Charles River Laboratories beat Wall Street estimates for first-quarter profit and revenue on Thursday, helped by strength in its manufacturing business and its unit that supplies research models to biotech clients. The contract research firm reaffirmed its full-year 2024 forecast, as it expects demand for its services to improve modestly during the second half of the year. Charles River and its peers have been grappling with weakening demand for their services due to a funding crunch among their biotech clients.
WILMINGTON, Mass., May 09, 2024--Charles River Laboratories International, Inc. (NYSE: CRL) today reported its results for the first quarter of 2024. For the quarter, revenue was $1.01 billion, a decrease of 1.7% from $1.03 billion in the first quarter of 2023.
Get a deeper insight into the potential performance of Charles River (CRL) for the quarter ended March 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.