Charles River Laboratories International (CRL) 10-K Summary — Year Ended Dec 30, 2023
Charles River Laboratories provides drug discovery and development services. The company reported higher revenue and operating cash flow for the year.
Key takeaway
Year ended Dec 30, 2023 · FY2025 10-K
Charles River Laboratories provides drug discovery and development services. The company reported higher revenue and operating cash flow for the year.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$4.1B
Revenue reported for the fiscal year.
Operating income
$617.3M
Income from operations reported for the year.
Net income
$474.6M
Net income reported for the year.
Operating cash flow
$683.9M
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 25, 2021 | $3.5B | n/a |
| Dec 31, 2022 | $4B | +12.3% |
| Dec 30, 2023 | $4.1B | +3.9% |
Business overview
The company offers a range of products and services to support pharmaceutical and biotechnology research. Its operations include preclinical services, manufacturing support, and research models. The business relies on a global supply chain, including non-human primates.
Financial performance
Revenue increased compared to the prior year. Operating income and net income were reported, with operating cash flow also showing an increase. The company's financial results reflect growth in its service offerings.
Material risks
The company faces risks related to the availability and supply chain of non-human primates. It is also subject to U.S. government investigations and inquiries concerning its non-human primate supply chain. Additionally, there are pending securities class action and derivative lawsuits.
Liquidity and capital
The company uses cash from operations and borrowings to fund working capital, acquisitions, and debt payments. Management believes existing funds and cash generation are sufficient for foreseeable operations.
What to watch
Monitor the outcome of U.S. government investigations into the non-human primate supply chain and any related legal proceedings.