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Sentiment · FY2026 Q2
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $1.00B | -1.1% | $-4.22 | -216.6% | 28.4% | -16.7% | -21.5% | $84M |
| FY2025 Q1 | $984M | -2.7% | $0.50 | -61.5% | 32.3% | 7.6% | 2.6% | $112M |
| FY2025 Q2 | $1.03B | +0.6% | $1.06 | -39.1% | 34.6% | 9.7% | 5.1% | $169M |
| FY2025 Q3 | $1.00B | -0.5% | $1.10 | -17.3% | 33.7% | 13.3% | 5.4% | $178M |
| FY2025 Q4 | $994M | -0.8% | $-5.62 | -33.2% | 31.0% | 12.1% | -27.8% | $59M |
| FY2026 Q1 | $996M | +1.2% | $-0.30 | -160.0% | 28.0% | 12.0% | -1.5% | $-15M |
| FY2026 Q2 | $1.00B | -2.7% | $-0.03 | -102.8% | 36.2% | 11.9% | -0.1% | $149M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Charles River's first full quarter under new CEO Birgit Girshick delivered Q1 results in line with lowered expectations, with $996M in revenue declining 1.5% organically and non-GAAP EPS falling 12% to $2.06 on anticipated discrete headwinds including CEO transition stock comp and NHP sourcing costs. The DSA demand environment remained constructive with a 1.04x net book-to-bill on $622M in bookings and proposal activity up in the high single digits, though biotech revenue still lagged on the booking-to-revenue time lag. Management reaffirmed FY2026 EPS guidance of $10.80-$11.30 and expects over 500 basis points of operating margin improvement between the first and second halves of the year, driven by KF Cambodia sourcing savings, completed CDMO/Cell Solutions divestiture, and incremental efficiency initiatives.
Demand | Revenue Growth | Margin | Cost Pressure | Competitive Dynamics | Regulation Policy | M&A | Pricing | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 8 | 3 | 4 | 1 | 2 | 3 | 4 | 4 |
| 2025Q1 | 11 | 8 | 1 | 2 | 6 | 7 | 2 | 2 |
| 2025Q2 | 13 | 8 | 4 | 2 | 1 | 2 | 1 | |
| 2025Q3 | 10 | 4 | 3 | 4 | 3 | 3 | 3 | 1 |
| 2025Q4 | 9 | 3 | 5 | 2 | 3 | |||
| 2026Q1 | 11 | 1 | 3 | 3 | 3 | 2 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 8 | 11 | 13 | 10 | 9 | 11 |
| Revenue Growth | 3 | 8 | 8 | 4 | 1 | |
| Margin | 4 | 1 | 4 | 3 | 3 | 3 |
| Cost Pressure | 1 | 2 | 2 | 4 | 5 | 3 |
| Competitive Dynamics | 2 | 6 | 1 | 3 | 2 | 3 |
| Regulation Policy | 3 | 7 | 2 | 3 | ||
| M&A | 4 | 2 | 3 | 3 | 2 | |
| Pricing | 4 | 2 | 1 | 1 | 1 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Dave Windley | Jefferies | 13 (15%) |
| Patrick Donnelly | Citigroup | 12 (8%) |
| Mike Ryskin | Bank of America |
| Elizabeth Anderson | Evercore ISI | 9 (11%) |
| Charles Rhyee | TD Cowen | 9 (0%) |
| Max Smock | William Blair | 9 (11%) |
| Justin Bowers | Deutsche Bank | 9 (0%) |
| Ann Hynes | Mizuho Securities | 8 (25%) |
| Casey Woodring | JPMorgan | 8 (0%) |
| Eric Coldwell | Robert W. Baird | 7 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jefferies | 2 | 15 (13%) |
| Citigroup | 1 | 12 (8%) |
| TD Cowen | 2 | 11 (0%) |
| William Blair | 2 | 10 (10%) |
| JPMorgan | 2 | 10 (0%) |
| Bank of America | 1 | 10 (0%) |
| Deutsche Bank | 1 | 9 (0%) |
| Evercore ISI | 1 | 9 (11%) |
What CRL and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“In April, we completed the acquisition of PathoQuest to continue advancing our NAMs or new approach methodologies capabilities by adding this in vitro next-generation sequencing platform for quality control testing for biologics drugs.”
Charles River acquired PathoQuest, an in vitro next-generation sequencing platform, to expand its new-approach-methodologies (NAMs) capabilities.
“Combined with Noveprim, in which we acquired a controlling stake in 2023, we own and expect to internally source most of our future NHP supply requirements for the DSA segment.”
Charles River's controlling stake in Noveprim, combined with the K.F. Cambodia deal, lets it internally source most future NHP supply.
“As we mentioned last quarter, our acquisition of the assets of K.F. Cambodia earlier this year, now Charles River Cambodia, further strengthens and secures the non-human primates supply chain for our Safety Assessment operations.”
Charles River acquired the assets of NHP supplier K.F. Cambodia (now Charles River Cambodia) to secure its non-human primate supply chain for the DSA segment.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
CRL Charles River Laboratories | 4 | +1.2% | |
| A Agilent Technologies | 6 | +7.0% | |
| DGX Quest Diagnostics | 9 | +9.2% | |
| DHR Danaher Corporation | 7 | +3.7% | |
| IDXX Idexx Laboratories | 8 | +14.3% | |
| IQV IQVIA | 7 | +8.4% | |
| LH LabCorp | 8 | +5.8% | |
| MTD Mettler Toledo | 7 | +7.2% | |
| RVTY Revvity | 5 | +7.0% | |
| TMO Thermo Fisher Scientific | 7 | +6.2% | |
| WAT Waters Corporation | 9 | +91.5% |