Charles River Labs: Q2 2024 Earnings and New Stock Repurchase

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reported second-quarter 2024 results, showing a 3.2% decline in revenue to $1.03 billion. The company's GAAP EPS was $1.74, a 7.9% decrease year-over-year, while non-GAAP EPS was $2.80, a 4.1% increase. The Board approved a new $1.0 billion stock repurchase authorization and revised 2024 guidance due to lower demand forecasts.

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About Charles River Laboratories International, Inc.

Charles River Laboratories International, Inc. provides essential services to the pharmaceutical, biotechnology, and life sciences industries. The company specializes in preclinical and clinical lab services, offering clients a comprehensive suite of drug discovery and development services that expedite the process of getting new drugs and therapies to the market. Notably, Charles River's facilities offer expertise in the fields of oncology, immunology, and neuroscience, making it a critical partner for companies working in these therapeutic areas. The firm operates globally, enhancing its customers' ability to operate internationally through its wide network of laboratories and testing facilities. By enabling more efficient drug development cycles and reducing the time to market for new therapies, Charles River Laboratories plays a crucial role in the advancement of medical science and patient care worldwide. The company's commitment to high standards of animal welfare and ethical practices further underscores its reputation as a leader in quality and reliability within the research community.