Financial Performance & Strategic Review - Charles River's Board supports the company's strategic direction, focusing on strengthening its scientific portfolio, divesting underperforming assets, maximizing financial performance, and maintaining disciplined capital deployment[7] - The company is refining its portfolio by selling certain underperforming or non-core businesses, representing approximately 7% of the estimated 2025 revenue[9] - These divestitures are expected to result in non-GAAP earnings per share accretion of at least $0.30 on an annualized basis once completed, excluding reinvestment benefits or interest expense impacts[9] - A new $1.0 billion stock repurchase authorization was approved by the Board in October, replacing a previous authorization under which $450.7 million in common stock had been repurchased since August 2024[10] 3Q25 Results & Updated Guidance - 3Q25 revenue was $1,004.9 million, a 0.5% decrease compared to $1,009.8 million in 3Q24, with a 1.6% organic revenue decline[13] - The GAAP EPS for 3Q25 was $1.10, a 17.3% decrease from $1.33 in 3Q24, while the non-GAAP EPS was $2.43, a 6.2% decrease from $2.59[15] - The company revised its 2025 revenue growth guidance to a decline of 1.5%-0.5% reported and a decline of 2.5%-1.5% organic[16] - The 2025 non-GAAP EPS estimate is now $10.10-$10.30, which includes a $0.10 guidance improvement at the midpoint[36] Segment Performance & Outlook - DSA (Discovery and Safety Assessment) revenue for 3Q25 was $600.7 million, a 2.3% decrease compared to $615.1 million in 3Q24, with a 3.1% organic revenue decline[17] - RMS (Research Models and Services) revenue for 3Q25 was $213.5 million, a 7.9% increase compared to $197.8 million in 3Q24, with a 6.5% organic revenue growth[25] - Manufacturing revenue for 3Q25 was $190.7 million, a 3.1% decrease compared to $196.9 million in 3Q24, with a 5.1% organic revenue decline[28]