RTTNews | Aug 4, 2021 07:50AM EDT

07:49 Wednesday, August 4, 2021 (RTTNews.com) - While reporting financial results for the first quarter on Tuesday, Charles River Laboratories International, Inc. (CRL) raised its earnings, adjusted earnings and revenue growth guidance for the full-year 2021, based on stronger-than-expected second quarter financial performance and expected robust client demand trends for the remainder of the year.

For fiscal 2021, the company now projects earnings in a range of $6.55 to $6.80 per share and adjusted earnings in a range of $10.10 to $10.35 per share on revenues growth of 20.5 to 22.5 percent and organic revenues growth of 13 to 15 percent.

Previously, the company expected earnings in a range of $5.95 to $6.20 per share and adjusted earnings in the range of $9.75 to $10.00 per share on revenues growth of 19 to 21 percent and organic revenues growth of 12 to 14 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $9.95 per share on revenue growth of 20.50 percent to $3.52 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company reported the net income attributable to common shareholders grew to $88.45 million or $1.72 per share from $67.44 million or $1.34 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was $2.61 per share, compared to $1.58 per share in the year-ago quarter.

Total revenue for the quarter increased 34 percent to $914.61 million from $682.58 million in the same quarter last year. Organic revenue growth was 24.1 percent, driven by contributions from all three business segments.

The Street was looking for earnings of $2.38 per share on revenues of $880.65 million for the quarter.

Read the original article on RTTNews ( https://www.rttnews.com/3215783/charles-river-labs-boosts-fy21-outlook-as-q2-results-top-estimates-quick-facts.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved