Why Charles River Laboratories Stock Is Jumping Today
Shares of Charles River Laboratories International (NYSE: CRL) are jumping today, up by 8.2% as of 11:43 a.m. ET. The solid gain came after the company announced its third-quarter results before the market opened.
Charles River reported Q3 revenue of $989.2 million, up 10.4% year over year. This figure easily topped the consensus Wall Street revenue estimate of $970.4 million.
The company posted Q3 earnings of $96.5 million, or $1.88 per share, based on generally accepted accounting principles (GAAP). On a non-GAAP basis, Charles River recorded earnings of $134.7 million, or $2.63 per share. While this reflected a decline from the prior-year period, it handily beat the average analyst's adjusted earnings estimate of $2.49 per share.
Source Fool.com
