Charles River Laboratories said fiscal 2024 revenue was $4.0 billion, a decrease of $79.4 million or 1.9% from fiscal 2023 revenue of $4.1 billion. Operating income was $227.3 million with an operating income margin of 5.6%, down from $617.3 million or 14.9% in fiscal 2023.

10-KAnnual reportFiled Feb 19, 2025Period of report Dec 28, 2024Summary published (UTC) Oct 10, 2026

Key points

AI summary

Charles River Laboratories said fiscal 2024 revenue was $4.0 billion, a decrease of $79.4 million or 1.9% from fiscal 2023 revenue of $4.1 billion. Operating income was $227.3 million with an operating income margin of 5.6%, down from $617.3 million or 14.9% in fiscal 2023.
The company said Manufacturing segment operating income (loss) for fiscal 2024 decreased $159.8 million, resulting in an operating income margin of (9.3)%, and cited goodwill impairment of $215.0 million within the Biologics Solutions reporting unit as a factor in the decrease.
Charles River said restructuring charges were $107.0 million in fiscal 2024 and $29.7 million in fiscal 2023. It expects the actions already taken and other planned actions to drive approximately $225 million in annualized cost savings, of which approximately $100 million impacted fiscal 2024.
The company said cash provided by operating activities for fiscal 2024 was $734.6 million, an increase from $683.9 million in fiscal 2023. In Q3 of fiscal 2024, it repurchased 0.5 million shares for $100.7 million under a new program, and as of December 28, 2024 the remaining authorized repurchase amount was $899.3 million.

Key figures

Fiscal year ended December 28, 2024

Revenue: $4.0B
Operating income: $227M
Net income: $22M
EPS: $0.20
Operating cash flow: $735M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Annual revenue and operating income changes

Charles River Laboratories said fiscal 2024 revenue was $4.0 billion, a decrease of $79.4 million or 1.9% from fiscal 2023 revenue of $4.1 billion. Operating income was $227.3 million with an operating income margin of 5.6%, down from $617.3 million or 14.9% in fiscal 2023.

Source · Based on the MD&A text of the filing

Biologics goodwill impairment and Manufacturing segment

The company said Manufacturing segment operating income (loss) for fiscal 2024 decreased $159.8 million, resulting in an operating income margin of (9.3)%, and cited goodwill impairment of $215.0 million within the Biologics Solutions reporting unit as a factor in the decrease.

Source · Based on the MD&A text of the filing

Restructuring charges and annualized cost savings

Charles River said restructuring charges were $107.0 million in fiscal 2024 and $29.7 million in fiscal 2023. It expects the actions already taken and other planned actions to drive approximately $225 million in annualized cost savings, of which approximately $100 million impacted fiscal 2024.

Source · Based on the MD&A text of the filing

Operating cash flow and share repurchases

The company said cash provided by operating activities for fiscal 2024 was $734.6 million, an increase from $683.9 million in fiscal 2023. In Q3 of fiscal 2024, it repurchased 0.5 million shares for $100.7 million under a new program, and as of December 28, 2024 the remaining authorized repurchase amount was $899.3 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

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