logo
Plus   Neg
Share
Email

Charles River Labs Boosts FY20 Outlook - Quick Facts

While reporting financial results for the second quarter on Wednesday, Charles River Laboratories International, Inc. (CRL) raised its earnings, adjusted earnings and revenue growth guidance for the full-year 2020, due to the better-than-expected second quarter performance and lower-than-expected revenue loss from the COVID-19 pandemic.

For fiscal 2020, the company now projects earnings in a range of $4.70 to $5.00 per share and adjusted earnings in a range of $7.05 to $7.35 per share on revenues growth of 7.5 to 9.0 percent and organic revenues growth of 4.0 to 5.5 percent.

Previously, the company expected earnings in a range of $4.25 to $4.60 per share and adjusted earnings in a range of $6.75 to $7.10 per share on revenues growth of 4.5 to 8.0 percent and organic revenues growth of 1.5 to 4.5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.91 per share on revenue growth of 6.1 percent to $2.78 billion for the year. Analysts' estimates typically exclude special items.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Brazos Electric Power Cooperative Inc., the largest power generation and transmission cooperative in Texas, filed for Chapter 11 bankruptcy protection citing a huge bill from the state's grid operator following major outages recently amid the winter storm. Brazos received a $1.8 billion bill from electricity grid operator Electric Reliability Council of Texas or ERCOT. El Abuelito Cheese is recalling certain types of cheese and cheese products for fear of potential contamination with Listeria Monocytogenes, a deadly bacteria, the U.S. Food & Drug Administration said in a statement. The recall involves Queso Fresco (Fresh, soft cheese), Quesillo (Oaxaca, string cheese), and Requeson (Ricotta) products. Technology company CAE Inc. (CAE.TO, CAE) agreed Monday to acquire the military training division of aerospace and defense technology firm L3Harris Technologies Inc. (LHX) for $1.05 billion, subject to customary adjustments. The acquisition will expand CAE's position as a platform-agnostic training...
RELATED NEWS
Follow RTT