Charles Riv Labs Intl Inc Stock Price, News & Analysis

Charles River Laboratories International, Inc. (NYSE: CRL) has published its 2021 Corporate Citizenship Report, highlighting ESG commitments and initiatives. The report emphasizes leadership accountability, employee engagement through global Resource Groups, community investments, and significant reductions in greenhouse gas emissions. Notably, the company aims for 100% renewable electricity across facilities by 2023. The report adheres to SASB and GRI standards, showcasing Charles River's dedication to corporate responsibility.

Charles River Laboratories (CRL) has acquired Explora BioLabs for approximately $295 million in cash, enhancing its Charles River Accelerator and Development Lab (CRADL™) footprint. This acquisition adds over 15 vivarium facilities across key biohubs like Southern California, San Francisco, and Boston, with plans for expansion in Seattle. Explora BioLabs had an annual revenue of $38 million in 2021, with expected strong growth. The acquisition is projected to be slightly accretive to non-GAAP earnings per share starting in 2023.

Charles River Laboratories (NYSE: CRL) announced the appointment of Flavia H. Pease as the new Chief Financial Officer, effective April 25. She succeeds David R. Smith, who plans to retire. Pease brings over 20 years of experience from Johnson & Johnson, where she served as Vice President and Group CFO of the Medical Devices business, which generated annual revenues of $27 billion in 2021. She is expected to assume the CFO role after the filing of the Company’s 10-Q in early May 2022. Smith will transition to Senior Financial Advisor until February 2023.

Charles River Laboratories International, Inc. (NYSE: CRL) reported fourth-quarter revenue of $905.1 million, a 14.4% increase year-over-year, and full-year revenue of $3.54 billion. Fourth-quarter GAAP EPS was $2.67, a 5.0% decline, while non-GAAP EPS rose 4.2% to $2.49.

The company reaffirmed its 2022 guidance, anticipating low-teens revenue growth driven by robust client demand. Significant contributions came from the Manufacturing segment, with revenues rising 47.4% in Q4. Despite challenges including the RMS Japan divestiture, CRL's portfolio growth remains strong.

Charles River Laboratories (NYSE: CRL) has secured a wind energy contract with Repsol, aiming to meet all of its European electricity needs through renewable sources by 2023. This virtual power purchase agreement (VPPA) encompasses 30.5 megawatts of wind energy, equating to reduced carbon emissions from over 28,000 homes. This initiative aligns with Charles River's sustainability targets, which also include a solar contract in North America. Together, these efforts will contribute to 90% of the company’s global electricity being sourced from renewables by 2023.

Charles River Laboratories (NYSE: CRL) has expanded its strategic partnership with SAMDI Tech, enhancing access to label-free high-throughput screening solutions in drug discovery. The collaboration enables Charles River to promote SAMDI's innovative technology, improving efficiency in measuring biochemical activities and binding events. This partnership builds on a successful agreement established in 2018, allowing Charles River clients to leverage SAMDI Tech's mass spectrometry platform for accelerated drug discovery. The initiative aims to provide clients with critical data faster, facilitating timely decision-making in the drug development process.

Charles River Laboratories (NYSE: CRL) is set to release its fourth-quarter and full-year 2021 financial results on February 16, 2022, before the market opens. A conference call to discuss these results and the 2022 financial guidance, initially shared on January 11, will follow at 8:30 a.m. ET. Investors can access a live webcast via the company’s Investor Relations site, with a replay available afterward.

Charles River Laboratories (CRL) and Valo Health have announced a multiyear strategic partnership to enhance drug discovery and development through AI. Utilizing Valo's Opal Computational Platform, the collaboration aims to optimize preclinical assets, addressing challenges like high costs and attrition rates. The initiative will integrate Valo's technological capabilities with Charles River's extensive drug development expertise, expediting processes from molecule design to IND submission. The combined offerings are set to launch in the first half of 2022 and will be exclusively available from Charles River.

Charles River Laboratories (NYSE: CRL) announced that CFO David R. Smith will retire by the end of 2022, transitioning the role to a successor. Smith has been pivotal since joining in 2014, promoting corporate growth and leading the global Finance organization. The company anticipates low-teens revenue growth in 2022, expecting a 13-15% increase despite challenges like a 1.5% impact from a 53rd week and a 1% foreign exchange impact. GAAP EPS is projected between $9.20 and $9.45, with non-GAAP EPS between $11.50 and $11.75.