Charles River(US:CRL)2023-05-12 06:55Financial Performance Highlights - Charles River achieved strong organic revenue growth of 15.4% in Q1 2023[103, 117] - The company's Q1 2023 GAAP EPS was $2.01, an 11.0% increase year-over-year[170, 127] - Non-GAAP EPS for Q1 2023 reached $2.78, a 1.1% increase year-over-year[170, 127] - Q1 2023 reported revenue was $1.0294 billion, a 12.6% increase compared to $913.9 million in Q1 2022[170, 117] Segment Performance - DSA (Discovery and Safety Assessment) segment revenue grew organically by 23.6% in Q1 2023[130] - RMS (Research Models and Services) segment revenue increased by 13.2% to $199.8 million in Q1 2023[137] - Manufacturing segment revenue decreased by 13.4% to $167.3 million in Q1 2023[181] Guidance and Outlook - Charles River narrowed its 2023 revenue growth guidance to 2.0%-4.5% reported and 5.0%-7.5% organic[122, 190] - The company updated its 2023 Non-GAAP EPS guidance to $9.90-$10.90[122, 129] - Charles River anticipates a high-single-digit revenue growth for Q2 2023, with organic revenue growth of approximately 10% or better[201] Financial Position - The company expects net interest expense of $133 million to $137 million for 2023[218, 222] - Charles River projects free cash flow (FCF) for 2023 to be in the range of $330 million to $380 million[38, 222]