Charles River earnings
MyStockButler's October 2026 analysis: Charles River next results are expected on November 4, 2026. Watch DSA bookings, study starts and conversion into recognized revenue.
What has Charles River guided for 2026?
For 2026, management guides to 0.0%–1.0% organic revenue growth and adjusted EPS of $11.15–$11.45. Reported revenue is still expected to decline because of divestitures. For 2027–2030, management targets 5%–7% average annual organic growth and low-double-digit adjusted EPS growth. Delivery depends on conversion, utilization, and savings.
| period guided | low | high | date given | |
|---|---|---|---|---|
| Revenue growth/(decrease), reported | Year to Dec 2026 | -3.5% | -2.5% | Aug 5, 2026 |
| Revenue growth/(decrease), organic | Year to Dec 2026 | 0.0% | 1.0% | Sep 24, 2026 |
| GAAP EPS estimate | Year to Dec 2026 | 3.05 | 3.35 | Aug 5, 2026 |
| Free cash flow (FCF) | Year to Dec 2026 | 400 | 420 | Aug 5, 2026 |
| Capital expenditures (capex) | Year to Dec 2026 | 200 | 200 | Aug 5, 2026 |
| Non-GAAP EPS | Quarter to Sep 2026 | 2.90 | 3.00 | Aug 5, 2026 |
What this means. The company’s reported earnings per share estimate is much lower than its adjusted estimate because the adjusted figure leaves out acquisition, divestiture, and restructuring costs.
Has Charles River kept its promises?
Guidance reliability is mixed. CRL’s record is 3/5: reported revenue and adjusted EPS each missed their initial ranges twice, while organic revenue missed once. It met or beat every final range reviewed, but that is stronger evidence of near-term forecasting than of long-range planning. Management’s 2027–2030 targets call for 5%–7% average annual organic growth and low-double-digit adjusted EPS growth, which makes the next question whether analysts see the same recovery.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| Revenue growth, reported | 5 years | 2 | 1 | 2 |
| Revenue growth, organic | 5 years | 2 | 2 | 1 |
| Non-GAAP EPS estimate | 5 years | 2 | 1 | 2 |
What do Charles River's last eight quarters show?
The company earns revenue through Research Models and Services, Discovery and Safety Assessment, and Manufacturing Solutions. Revenue rose from $3.5 billion in 2021 to $4.0 billion in 2025. Reported growth slowed sharply by 2023 and turned negative in both 2024 and 2025.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,004,078 | 995,830 | 994,227 | 1,004,852 | 1,032,135 | 984,168 | 1,002,549 | 1,009,763 |
| Gross margin | 36.2% | 29.6% | 31.1% | 33.7% | 34.6% | 32.3% | 28.4% | 34.6% |
| Operating income | 119,888 | 119,897 | -283,440 | 133,799 | 100,134 | 74,669 | -167,687 | 117,405 |
| Net income | -1,482 | -14,843 | -276,555 | 54,422 | 52,326 | 25,469 | -214,495 | 69,657 |
| EPS, diluted | -0.03 | -0.30 | -5.62 | 1.10 | 1.06 | 0.50 | -4.22 | 1.33 |
| = Free cash flow | 148,620 | -14,831 | 58,570 | 178,246 | 169,305 | 112,373 | 83,746 | 213,071 |
What this means. The company lost money in June 2026 because selling two businesses caused a large one-time loss, even though its main business was profitable.
What should I watch in Charles River's next results?
CRL’s next results call is scheduled for November 4, 2026, at 9 a.m. Eastern time. The third-quarter outlook calls for organic revenue growth of 1.0%–3.0% and adjusted EPS of $2.90–$3.00. That makes the report a concrete test of the recovery.
The operating evidence should come from DSA. Investors should watch bookings, study starts and the conversion of work into recognized revenue. Management expects recent demand to extend into 2027, but a backlog is less valuable if customers repeatedly postpone the work.