Charles River lowers Q2 2022 revenue and EPS outlook, cites FX and CDMO headwinds

CHARLES RIVER LABORATORIES INTERNATIONAL, INC.

Q2 reported revenue growth guidance cut from low-double-digit to high-single-digit YoY; non-GAAP EPS growth cut from mid- to high-single-digit to low- to mid-single-digit.
Guidance reduction driven by unfavorable FX impact and manufacturing (CDMO) revenue growth below Q1 2022 level.
DSA and RMS organic growth rates expected to accelerate from Q1; DSA trends remain in line with full-year expectations.
Full-year 2022 organic revenue growth and non-GAAP EPS guidance maintained within prior ranges provided in May.

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