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Charles River Laboratories
Charles River Laboratories (CRL) investor relations material
Charles River Laboratories 44th Annual J.P. Morgan Healthcare Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.44th Annual J.P. Morgan Healthcare Conference summary13 Jan, 2026
Business Overview and Market Position
Operates as a non-clinical CRO with 20,000 employees and 120 global locations, holding leading market shares in Research Models, Safety Assessment, and Microbial businesses.
LTM 2025 revenue reached $4.05B, with non-GAAP operating margin at 20.2% and non-GAAP EPS at $10.32.
Three main segments: Research Models (~20-21%), Discovery and Safety Assessment (~60%), and Manufacturing Solutions (~19-20%).
Holds a 40% share in Research Models and 30% in Safety Assessment, with significant capabilities in bioanalysis and specialty testing.
65% of Manufacturing Solutions revenue is recurring, driven by regulatory-required testing and strong IP.
Strategic Initiatives and Portfolio Actions
Conducted a deep strategic review, deciding to divest non-performing businesses representing about 7% of revenue, targeting completion by mid-year.
Announced acquisitions of a Cambodian NHP supplier for $500M and PathoQuest to secure supply and enhance biologics testing, both expected to close in 1Q26.
Launched a formal NAMs (New Approach Methodologies) strategy and Scientific Advisory Board in 2025, advancing alternatives to animal testing.
Expects $300M in annualized cost savings, with an additional $70M announced last year, targeting $295M in cumulative annualized savings by 2026.
Refreshed board composition in 2025 with four new members and established a committee focused on NAMs.
Financial Performance and Outlook
Free cash flow for LTM 2025 was $544M, with capital expenditures reduced to 5.1% of revenue.
Reinitiated stock buybacks in 2024, with $450M repurchased through 2025 and a new $1B authorization approved in October 2025.
Gross and net leverage ratios at 2.1x at end of Q3 2025, within the low end of the 15-year historical range.
Preliminary 2026 outlook calls for at least flat organic revenue growth, with incremental cost savings of $100M to offset inflation.
Strong free cash flow and operating margins support continued investment and M&A.
How do acquisitions impact 2026 operating margin?
NAMs strategy impact on animal model demand?
DSA 2H26 revenue growth drivers?
NHP acquisition: supply security and margin uplift?
China DSA market entry strategy and competitive view
NAMs adoption timeline and impact on business segments
Partial view of Summaries dataset, powered by Quartr API
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Next Charles River Laboratories earnings date
Q4 202518 Feb, 2026
Charles River Laboratories
Next Charles River Laboratories earnings date
Q4 202518 Feb, 2026
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Frequently asked questions
Charles River Laboratories International, Inc. is a concract research organization providing drug discovery, non-clinical development and safety testing services in the United States, Europe, Canada and the Asia Pacific regions. The Company provides research models and related services to support clients from target identification through non-clinical development. The Company operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support.
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