Charles River Laboratories International, Inc. stock research
FY2024 Q1
Charles River Laboratories International (CRL) Gross Margin — Quarter Ended Mar 30, 2024
Revenue was stable compared to the prior quarter and the same quarter last year. Gross profit decreased and cost of revenue increased relative to the year-ago quarter, resulting in a lower gross margin.
Gross margin takeaway
Quarter ended Mar 30, 2024 · FY2024 Q1
Revenue was stable compared to the prior quarter and the same quarter last year. Gross profit decreased and cost of revenue increased relative to the year-ago quarter, resulting in a lower gross margin.
- The decline in gross margin was driven by a higher cost of revenue relative to revenue, as gross profit fell while revenue remained flat year over year.
- Compared to the prior quarter, revenue was unchanged but gross margin data is not available for that period. Compared to the same quarter one year earlier, revenue was stable, gross profit was lower, cost of revenue was higher, and gross margin weakened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
34.1%
Gross profit
$344.8M
Revenue
$1.0B
Cost of revenue
$666.7M
Quarter-over-quarter change
-1.2 pts
Year-over-year change
-2.6 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Apr 1, 2023 | $1.0B | $377.7M | $651.7M | 36.7% |
| Jul 1, 2023 | $1.1B | $399.0M | $661.0M | 37.6% |
| Sep 30, 2023 | $1.0B | $361.8M | $664.8M | 35.2% |
| Mar 30, 2024 | $1.0B | $344.8M | $666.7M | 34.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2023
-1.2 pts
Year-over-year change
Apr 1, 2023
-2.6 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The decline in gross margin was driven by a higher cost of revenue relative to revenue, as gross profit fell while revenue remained flat year over year.
Compared to the prior quarter, revenue was unchanged but gross margin data is not available for that period. Compared to the same quarter one year earlier, revenue was stable, gross profit was lower, cost of revenue was higher, and gross margin weakened.
Monitor the trajectory of cost of revenue relative to revenue, as its increase outpaced revenue growth year over year.