WASHINGTON (dpa-AFX) - Charles River Laboratories International, Inc. (CRL), a provider of drug discovery and development services, Wednesday raised its 2026 outlook for organic revenue growth and earnings per share.
The company now expects revenue to decline 1.5% to 2.0% in 2026, compared with its previous forecast of a 2.5% to 3.5% decline. Organic revenue is projected to grow at least 1.5%, up from the prior range of 0% to 1%.
Charles River raised its EPS estimate to $8.15-$8.35 from $3.05- $3.35. The company now expects non-GAAP EPS of $11.35-$11.55, compared with its previous outlook of $11.15-$11.45.
For the third quarter, profit increased significantly to $333.07 million, or $6.86 per share from $54.42 million, or $1.10 per share, last year, mainly reflecting a $245.6 million tax benefit from the reversal of acquired non-income tax reserves.
Excluding items, adjusted earnings were $150.128 million or $3.09 per share.
Revenue for the period fell 2.1% to $982.732 million from $1.004 billion last year.
In pre-market trading on the NYSE, CRL shares were down nearly 4% after closing at $351.87 on Tuesday.
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