Charles Riv Labs Intl Inc Stock Price, News & Analysis

Duke Energy Sustainable Solutions announces the construction of the 250 MW Pisgah Ridge Solar project in Navarro County, Texas, set to become their largest utility-scale solar facility. The project has attracted virtual power purchase agreements (VPPAs) from Charles River Laboratories for 102 MW, aiming for 100% renewable electricity by 2023. Expected to generate enough power for 63,000 homes, the facility will create 200-300 construction jobs and provide tax revenue for local schools. Duke plans to double its renewable portfolio to 16 GW by 2025.

Charles River Laboratories International, Inc. (NYSE: CRL) has secured a long-term solar energy contract with Duke Energy Sustainable Solutions, committing to meet its North American electric power needs with renewable energy by 2023. This includes a 15-year, 102 MW virtual power purchase agreement (VPPA) linked to the 250 MW Pisgah Ridge Solar project in Texas, projected to generate around 250,000 MWh of clean energy annually. The agreement aligns with Charles River's goal of achieving 100% renewable electricity globally by 2030, with targeted reductions in greenhouse gas emissions.

Charles River Laboratories (NYSE: CRL) announced its participation in three virtual investor conferences. The events include the Jefferies Virtual Healthcare Conference on June 1 at 10:00 a.m. ET, the William Blair 41st Annual Growth Stock Conference on June 2 at 11:00 a.m. ET, and the Goldman Sachs 42nd Annual Global Healthcare Conference on June 10 at 11:20 a.m. ET. Management will discuss strategic focus and business developments. Webcasts of the presentations will be available on the Investor Relations section of Charles River's website for two weeks after.

Charles River Laboratories (NYSE: CRL) will host a virtual Meeting with Management on May 27th at 8:30 a.m. ET. The event will feature presentations from senior management focused on the Company's strategic direction, business developments, and financial outlook, particularly highlighting advancements in cell and gene therapy. Investors can access the live webcast via the Investor Relations section of their website, with a slide presentation available at 8:00 a.m. ET on the same day. A replay will be provided post-event.

Charles River Laboratories (NYSE: CRL) announced its acquisition of Vigene Biosciences for $292.5 million in cash, with potential additional payments of $57.5 million based on performance. The deal aims to enhance Charles River's gene therapy capabilities, specifically in viral vector manufacturing, supporting growth in the high-value cell and gene therapy market, which is projected to reach $2.5 billion and grow at 25% annually over the next five years. The transaction is expected to close in Q3 2021, pending regulatory approvals.

Charles River Laboratories (NYSE: CRL) reported Q1 2021 revenue of $824.6 million, a 16.6% increase from Q1 2020. Acquisitions contributed 0.7% and foreign currency translation 2.9% to this growth. Organic revenue rose 13.0%. Net income attributable to shareholders was $61.5 million, up 21.2%, with diluted GAAP EPS of $1.20 (up 17.6%). Non-GAAP net income from continuing operations was $129.2 million, a 40.7% increase, yielding non-GAAP EPS of $2.53 (up 37.5%). Strong demand driven by scientific innovation enhanced performance across segments.

Charles River Laboratories (NYSE: CRL) will announce its Q1 2021 financial results on May 4, 2021, before market opening, with a conference call at 9:00 a.m. ET. Additionally, an Investor Day virtual meeting is set for May 27, 2021, at 8:30 a.m. ET, featuring senior management presentations on strategic focus and updated financial targets. Investors can access the webcasts via the company's Investor Relations website. This event showcases the company's commitment to supporting pharmaceutical and biotech research and development.

Charles River Laboratories and Valence Discovery have formed a strategic partnership, enabling clients to utilize Valence's advanced AI platform for molecular property prediction, generative chemistry, and multiparameter optimization.

Charles River Laboratories (NYSE: CRL) has acquired Retrogenix Limited, a UK-based early-stage contract research organization specializing in bioanalytical services through cell microarray technology. The purchase price is approximately £35 million ($48 million) with a potential additional £5 million ($7 million) based on performance. This acquisition enhances Charles River's capabilities in large molecule and cell therapy discovery, positioning it as a premier provider in drug research services. The integration of Retrogenix is not expected to materially affect financial results in 2021.