Charles River Laboratories International (CRL) FY2024 results: revenue $4.0 billion, down 1.9% on the year

Charles River Laboratories International, Inc. (CRL) reported revenue of $4.0 billion for fiscal 2024, the year ended 28 December 2024, down 1.9% on the year before. Net income was $22 million, down 95.3%, and diluted earnings per share $0.20. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2025.

Revenue

$4.0 billion

-1.9% on the year

FY2017FY2024

Operating margin

5.6%

14.9% a year earlier

FY2017FY2024

Net income

$22 million

-95.3% on the year

FY2017FY2024

Diluted EPS

$0.20

-97.8% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	4,050	4,129	3,976	-1.9%
Cost of revenue	2,718	2,627	2,513	+3.5%
Gross profit	1,332	1,503	1,463	-11.4%
Gross margin	32.9%	36.4%	36.8%
Selling, general and administrative	751	748	665	+0.4%
Operating income	227	617	651	-63.2%
Operating margin	5.6%	14.9%	16.4%
Interest expense	126	137	59.3	-7.6%
Pre-tax income	93.1	581	623	-84.0%
Income tax	67.8	101	130	-32.8%
Effective tax rate	72.8%	17.4%	20.9%
Net income	22.2	475	486	-95.3%
Net margin	0.5%	11.5%	12.2%
Diluted EPS	$0.20	$9.22	$9.48	-97.8%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	735	684	620	+7.4%
Capital expenditure	233	319	325	-26.9%
Free cash flow	502	365	295	+37.3%
Free cash flow margin	12.4%	8.8%	7.4%
Cash from investing	-245	-563	-608
Cash from financing	-551	-85.5	-42.4
Depreciation and amortisation	362	314	304	+15.2%
Share-based compensation	69.9	72.0	73.6	-3.0%
Buybacks	119	24.2	38.7	+393.4%
Diluted shares, weighted	52m	51m	51m	+0.3%
Shares outstanding at period end	51m	51m	51m	-0.4%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	3,462	3,597	2,976	-3.8%
Non-controlling interest	5.4	5.4	4.8	+1.0%
Redeemable equity	41.1	56.7	42.4	-27.5%
Debt	2,240	2,647	2,708	-15.4%
Operating lease liabilities	484	419	390	+15.4%
Finance lease liabilities	25.7	26.2	28.3	-1.8%
Other liabilities	1,271	1,443	1,454	-12.0%
Total liabilities and equity	7,528	8,195	7,603	-8.1%
Fixed assets	1,604	1,640	1,466	-2.2%
Goodwill	2,847	3,095	2,850	-8.0%
Intangible assets	723	864	955	-16.3%
Cash and equivalents	195	277	234	-29.7%
Receivables	721	780	752	-7.6%
Inventory	279	380	256	-26.7%
Other assets	1,160	1,159	1,090	+0.1%
Total assets	7,528	8,195	7,603	-8.1%

10-K for the year ended 28 December 2024, filed 19 February 2025: the filing.