Charles River's (CRL) Manufacturing and RMS business segments report organic revenue growth.
The headline numbers for Charles River (CRL) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
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.