Charles River Laboratories Sees 2.2% Q4 Revenue Drop to $980.9M
Charles River Laboratories expects Q4 revenue of $980.9 million, a 2.2% year-on-year decline after flat $1.00 billion sales last quarter that edged analysts’ estimates by 1.1%. Shares have fallen 26.1% over the past month, trading well below the $215.73 average analyst price target.
1. Pre-Earnings Outlook
Analysts forecast Charles River Laboratories will report Q4 revenue of $980.9 million, down 2.2% year-on-year, and adjusted earnings of $2.35 per share, following last quarter’s $1.00 billion in sales that beat estimates by 1.1%.
2. Historical Performance and Forecast
Over the past two years, the company has missed revenue estimates only once and has exceeded consensus by an average of 2.5%, while analysts have maintained their forecasts over the past 30 days, indicating confidence in the current outlook.
3. Stock Performance and Analyst Targets
Shares have declined 26.1% in the last month versus a 3.7% drop for peer drug development service providers, trading at $161.35 against an average analyst price target of $215.73, suggesting potential upside if estimates are met or exceeded.