Lab services company Charles River Laboratories (NYSE:CRL) will be reporting earnings this Thursday before market hours. Here’s what investors should know.
Charles River Laboratories beat analysts’ revenue expectations last quarter, reporting revenues of $994.2 million, flat year on year. It was a satisfactory quarter for the company, with a narrow beat of analysts’ revenue estimates.
Is Charles River Laboratories a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Charles River Laboratories’s revenue to be flat year on year, improving from the 2.7% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Charles River Laboratories rarely misses Wall Street’s revenue estimates.
Looking at Charles River Laboratories’s peers in the drug development inputs & services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. West Pharmaceutical Services delivered year-on-year revenue growth of 21%, beating analysts’ expectations by 8.4%, and Medpace reported revenues up 26.5%, topping estimates by 1.5%. West Pharmaceutical Services traded up 11.6% following the results while Medpace was down 22.6%.
Read our full analysis of West Pharmaceutical Services’s results here and Medpace’s results here.
There has been positive sentiment among investors in the drug development inputs & services segment, with share prices up 6.5% on average over the last month. Charles River Laboratories is up 10.2% during the same time and is heading into earnings with an average analyst price target of $199.33 (compared to the current share price of $185.31).
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