Charles River Q3 Earnings: CEO Notes Improved Biotech Funding And Stabilizing Demand - Here's Why

Charles River Laboratories International Inc (NYSE:CRL) reported third-quarter 2024 revenue of $1.01 billion on Wednesday, a decrease of 1.6% year over year, beating the consensus of $976.02 million.

The impact of foreign currency translation benefited reported revenue by 0.4%, and an acquisition contributed 0.9% to consolidated third-quarter revenue.

A divestiture of a small Safety Assessment site reduced reported revenue by 0.2%. Organic revenue decreased by 2.7%. 

In the third quarter of 2024, the operating margin decreased to 11.6% from 14.8% a year ago, primarily driven by costs associated with the company's restructuring initiatives.

The company says the adjusted operating margin improved in all three segments; however, the improvements were more ...