Charles River Q2 revenue falls 3.2% to $1.03B; slashes FY24 guidance on weak demand

CHARLES RIVER LABORATORIES INTERNATIONAL, INC.

2024-Q2 EPS reported $3.04 revenue$2,037,677,000

GAAP EPS $1.74 (-7.9% YoY); Non-GAAP EPS $2.80 (+4.1%), Non-GAAP net income $144.9M (+4.8%).
DSA organic revenue -5.0%, RMS organic -3.9%; Manufacturing organic +3.7%.
Board authorized new $1.0B share repurchase plan, replacing prior $1.3B authorization.
FY24 guided GAAP EPS $5.65-$5.95 (prior $7.60-$8.10); Non-GAAP EPS $9.90-$10.20 (prior $10.90-$11.40).
Restructuring expected to yield >$150M annual savings; ~$100M realized in 2024.

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