Analyst Consensus ?
ConsensusBuy36 ratings
Bullish2672.2%
Neutral1027.8%
Bearish00.0%
Charles River Laboratories International, Inc. · CRL · FY2026 Q3 · Calendar Q4 2026
Charles River raises FY2026 outlook after strong Q3; demand and margins improve
Q3 results and another increase to full-year guidance support the view that biopharma demand and operational execution are improving. Whether that momentum persists depends on DSA pricing, non-human-primate supply, biotech funding and broader macro conditions.
Reported Before market openNYSEHealthcare
$16.95B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $2.97
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $960.4M
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-6.0%
Event window
SPY move
+1.8%
Same window
Abnormal move
-7.8%
Stock minus SPY
Volume
0.8×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
CRLSPY benchmark
Ask FN2 about CRL FY2026 Q3
Transcript, numbers and history already loaded
What drove CRL's -6.0% move after FY2026 Q3 earnings?What changed in CRL's guidance and outlook in FY2026 Q3?Give me the bull and bear case for CRL after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management said Q3 revenue and non-GAAP EPS exceeded its prior outlook and raised full-year guidance again. The call described mid-single-digit organic growth in DSA and high-single-digit growth in manufacturing, with higher study volume, lower non-human-primate sourcing costs and the CDMO divestiture contributing to margin expansion. Compared with Q2, the call continues the raised-guidance and improving-demand narrative, while highlighting execution of automation and transformation initiatives.
Guidance delta
Raised full-year revenue and non-GAAP EPS guidance after Q3 results exceeded prior expectations. The supplied analysis specifies revenue guidance of over 1.5% organic growth; it does not provide the revised EPS range.
Key takeaways
- Management described improving biopharma demand and rebounding IND-enabling programs, alongside growth in DSA and manufacturing.
- Higher study volume, lower non-human-primate sourcing costs and the CDMO divestiture supported Q3 operating-margin expansion.
- The company is advancing automation, digital workflows and Virtual Control Groups; management cited a cumulative $300 million cost-savings objective by 2030.
Management priorities
- Continue the Create the Future transformation and cost-saving initiatives.
- Expand bioanalytical capacity and pursue automation across manufacturing and digital workflows.
- Scale rapid cell banking and Virtual Control Groups while advancing strategic partnerships.
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Analyst 52W Price Targets
$326.29Current
$151Low
$302.11Average
$465High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 4, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Overweight | Overweight | Maintain | Oct 13, 2026 |
| Jefferies | Buy | Buy | Maintain | Sep 28, 2026 |
| TD Cowen | Buy | Buy | Maintain | Sep 25, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Sep 25, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Sep 25, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Sep 25, 2026 |
| Deutsche Bank | Buy | Buy | Maintain | Sep 25, 2026 |
| Barclays | Overweight | Overweight | Maintain | Sep 25, 2026 |
| Baird | Outperform | Outperform | Maintain | Sep 25, 2026 |
| JP Morgan | Overweight | Neutral | Upgrade | Aug 6, 2026 |
| CLSA | Hold | Outperform | Downgrade | Jul 20, 2026 |
| UBS | Neutral | Neutral | Maintain | Feb 25, 2026 |
| Citigroup | Buy | Buy | Maintain | Jan 16, 2026 |
| William Blair | Outperform | Market Perform | Upgrade | Oct 6, 2025 |
| Redburn Atlantic | Buy | Neutral | Upgrade | May 23, 2025 |
| Goldman Sachs | Neutral | Buy | Downgrade | Mar 21, 2025 |
| B of A Securities | Neutral | Neutral | Maintain | Dec 13, 2024 |
| Argus Research | Hold | Buy | Downgrade | Jun 28, 2024 |
| Guggenheim | Neutral | Buy | Downgrade | Feb 15, 2024 |
| Wells Fargo | Overweight | Overweight | Maintain | Sep 22, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | May 12, 2023 |
| Keybanc | Overweight | Overweight | Maintain | May 5, 2022 |
| Stephens & Co. | Overweight | Overweight | Maintain | Apr 7, 2022 |
| Truist Securities | Buy | Buy | Maintain | May 25, 2021 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | May 8, 2020 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Feb 18, 2020 |
| CFRA | Strong Buy | Strong Buy | Maintain | Feb 11, 2020 |
| Bank of America | Neutral | Buy | Downgrade | Oct 18, 2019 |
| Raymond James | Outperform | Outperform | Maintain | Nov 8, 2018 |
| Argus | Buy | Buy | Maintain | Aug 27, 2018 |
| Mitsubishi UFJ | Neutral | Neutral | Maintain | Apr 20, 2018 |
| Gabelli & Co. | Buy | Buy | Maintain | Apr 26, 2016 |
| Edward Jones | Buy | Neutral | Upgrade | May 4, 2015 |
| Cantor Fitzgerald | Buy | Buy | Maintain | Oct 1, 2013 |
| Sterne Agee | Buy | Buy | Maintain | Jun 11, 2013 |
| ISI Group | Neutral | Neutral | Maintain | Feb 20, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $326.29. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Analyst unavailable | $340 | $301.14 | +4.2% | Oct 12, 2026 |
| UBS | Kevin Caliendo | $357 | $295.96 | +9.4% | Sep 30, 2026 |
| Jefferies | David Windley | $340 | $292.84 | +4.2% | Sep 28, 2026 |
| Deutsche Bank | Justin Bowers | $320 | $291.16 | -1.9% | Sep 25, 2026 |
| RBC Capital | Analyst unavailable | $322 | $291.11 | -1.3% | Sep 25, 2026 |
| Evercore ISI | Analyst unavailable | $330 | $294.44 | +1.1% | Sep 25, 2026 |
| Robert W. Baird | Analyst unavailable | $334 | $294.44 | +2.4% | Sep 25, 2026 |
| Mizuho Securities | Ann Hynes | $295 | $294.44 | -9.6% | Sep 25, 2026 |
| Barclays | Analyst unavailable | $330 | $294.44 | +1.1% | Sep 25, 2026 |
| Argus Research | Analyst unavailable | $330 | $279.4 | +1.1% | Sep 17, 2026 |
| Evercore ISI | Analyst unavailable | $320 | $277.18 | -1.9% | Sep 11, 2026 |
| Piper Sandler | Analyst unavailable | $300 | $269.64 | -8.1% | Aug 10, 2026 |
| Mizuho Securities | Analyst unavailable | $264 | $267.49 | -19.1% | Aug 10, 2026 |
| Morgan Stanley | Analyst unavailable | $300 | $264.05 | -8.1% | Aug 7, 2026 |
| Robert W. Baird | Analyst unavailable | $291 | $258.92 | -10.8% | Aug 6, 2026 |
| RBC Capital | Analyst unavailable | $282 | $260.72 | -13.6% | Aug 6, 2026 |
| Barclays | Analyst unavailable | $300 | $260.72 | -8.1% | Aug 5, 2026 |
| Mizuho Securities | Analyst unavailable | $230 | $233.41 | -29.5% | Jul 13, 2026 |
| Morgan Stanley | Analyst unavailable | $260 | $223.96 | -20.3% | Jul 9, 2026 |
| Bernstein | Analyst unavailable | $250 | $226.79 | -23.4% | Jul 1, 2026 |
| Morgan Stanley | Analyst unavailable | $220 | $184.79 | -32.6% | Jun 17, 2026 |
| CLSA | Analyst unavailable | $219 | $181.34 | -32.9% | May 29, 2026 |
| Robert W. Baird | Eric Coldwell | $213 | $175.56 | -34.7% | May 8, 2026 |
| Evercore ISI | Analyst unavailable | $220 | $176.32 | -32.6% | May 8, 2026 |
| Mizuho Securities | Analyst unavailable | $192 | $181.68 | -41.2% | May 8, 2026 |
| Barclays | Luke Sergott | $220 | $181.68 | -32.6% | May 8, 2026 |
| Barclays | Luke Sergott | $210 | $178.34 | -35.6% | Apr 14, 2026 |
| RBC Capital | Analyst unavailable | $215 | $178.34 | -34.1% | Apr 14, 2026 |
| Mizuho Securities | Analyst unavailable | $175 | $164.24 | -46.4% | Feb 20, 2026 |
| Robert W. Baird | Eric Coldwell | $193 | $158.18 | -40.9% | Feb 19, 2026 |
| Barclays | Luke Sergott | $200 | $158 | -38.7% | Feb 19, 2026 |
| Robert W. Baird | Analyst unavailable | $231 | $221.69 | -29.2% | Jan 13, 2026 |
| Evercore ISI | Analyst unavailable | $260 | $225.11 | -20.3% | Jan 13, 2026 |
| Robert W. Baird | Eric Coldwell | $224 | $219.49 | -31.3% | Jan 9, 2026 |
| Mizuho Securities | Ann Hynes | $215 | $215.51 | -34.1% | Jan 9, 2026 |
| Mizuho Securities | Analyst unavailable | $200 | $195.98 | -38.7% | Dec 18, 2025 |
| Barclays | Analyst unavailable | $215 | $192.97 | -34.1% | Dec 15, 2025 |
| Morgan Stanley | Kallum Titchmarsh | $185 | $176.09 | -43.3% | Dec 1, 2025 |
| Argus Research | Analyst unavailable | $200 | $166.73 | -38.7% | Nov 17, 2025 |
| Mizuho Securities | Ann Hynes | $174 | $174.95 | -46.7% | Oct 17, 2025 |
| Evercore ISI | Elizabeth Anderson | $200 | $181.18 | -38.7% | Oct 3, 2025 |
| Barclays | Luke Sergott | $195 | $170.48 | -40.2% | Oct 2, 2025 |
| Jefferies | Analyst unavailable | $195 | $157.38 | -40.2% | Sep 9, 2025 |
| Barclays | Luke Sergott | $205 | $193.14 | -37.2% | Oct 15, 2024 |
| Redburn Partners | Jamie Clark | $151 | $192.97 | -53.7% | Oct 14, 2024 |
| Mizuho Securities | Ann Hynes | $210 | $206.44 | -35.6% | Sep 17, 2024 |
| Deutsche Bank | Justin Bowers | $240 | $200.34 | -26.4% | Aug 8, 2024 |
| Robert W. Baird | Eric Coldwell | $239 | $201.85 | -26.8% | Jul 10, 2024 |
| Barclays | Luke Sergott | $230 | $207.35 | -29.5% | Jun 28, 2024 |
| Goldman Sachs | Matthew Sykes | $290 | $216.12 | -11.1% | Jun 6, 2024 |
| Evercore ISI | Elizabeth Anderson | $265 | $230.09 | -18.8% | May 9, 2024 |
| Evercore ISI | Elizabeth Anderson | $300 | $270.95 | -8.1% | Apr 1, 2024 |
| KeyBanc | Donald Hooker | $300 | $257.51 | -8.1% | May 5, 2022 |
| Wells Fargo | Analyst unavailable | $325 | $257.75 | -0.4% | Apr 25, 2022 |
| Jefferies | David Windley | $280 | $273.03 | -14.2% | Apr 25, 2022 |
| Jefferies | David Windley | $464 | $357.95 | +42.2% | Jan 11, 2022 |
| Argus Research | David Toung | $440 | $377.51 | +34.8% | Nov 24, 2021 |
| Cowen & Co. | Daniel Brennan | $465 | $417.45 | +42.5% | Aug 17, 2021 |
| Credit Suisse | Katie Tryhane | $385 | $416.31 | +18.0% | Aug 4, 2021 |
| J.P. Morgan | Tycho Peterson | $390 | $337.99 | +19.5% | May 28, 2021 |
| Guggenheim | Sandy Draper | $369 | $329.52 | +13.1% | May 25, 2021 |
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Start freeCompany context
Snapshot as of publicationCharles River Laboratories International, Inc. operates as a contract research organization (CRO), providing essential preclinical services to the pharmaceutical and biotechnology industries. Its core business revolves around assisting clients with drug discovery, non-clinical development, and thorough safety testing, with its services extending globally across the United States, Europe, Canada, and the Asia Pacific region. The company organizes its diverse offerings into three principal segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions. 1. Research Models and Services (RMS): This division is a key supplier of high-quality rodent research models, including specially bred strains of rats and mice for experimental purposes. It also offers a comprehensive array of support services to help clients effectively utilize these models in their research and for the screening of potential non-clinical drug candidates.…
Historical context
All CRL earningsHealthcare peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| RPRX Royalty Pharma plc | FY2026 Q3 · Calendar Q4 2026 | — | +1.4% | Royalty Pharma Raises Guidance as Receipts and Co-Funding Expand |
| ZBH Zimmer Biomet Holdings, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +14.6% | Zimmer Biomet raises 2026 outlook as hip and technology growth offset knee weakness |
| MDLN Medline Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +16.2% | Medline Raises 2026 Organic Sales Outlook on 10% Q3 Growth |
| NVO Novo Nordisk A/S | FY2026 Q3 · Calendar Q4 2026 | — | +6.4% | Novo Nordisk Q3: obesity demand supports growth, pricing and LOE remain risks |
| UTHR United Therapeutics Corporation | FY2026 Q3 · Calendar Q4 2026 | — | +0.6% | United Therapeutics’ record quarter highlights Tyvaso growth and pipeline execution |
| AMGN Amgen Inc. | FY2026 Q3 · Calendar Q4 2026 | +11.4% | +1.6% | Amgen Q3: Growth Drivers, Pipeline Progress and Higher 2026 Guidance |
Latest beats and misses
Who reports nextBeat on EPS
- SUFY2026 Q3 · November 3, 2026+20.9% EPS-4.5% move
- AFGFY2026 Q3 · November 3, 2026+4.5% EPS+1.0% move
- WTRGFY2026 Q3 · November 3, 2026+13.7% EPS+2.5% move
- LTMFY2026 Q3 · November 3, 2026+25.2% EPS+9.5% move
- AIZFY2026 Q3 · November 3, 2026+29.5% EPS+4.2% move
- AIZNFY2026 Q3 · November 3, 2026+36.0% EPS+0.5% move
Missed on EPS
- MOSFY2026 Q3 · November 3, 2026-1656.0% EPS+17.4% move
- OVVFY2026 Q3 · November 3, 2026-2.0% EPS-5.1% move
- BSACFY2026 Q3 · October 30, 2026-20.0% EPS-3.0% move
- TXFY2026 Q3 · November 3, 2026-24.9% EPS-0.0% move
- CHTFY2026 Q3 · November 4, 2026-55.7% EPS+0.9% move
- TOSTFY2026 Q3 · November 3, 2026-20.1% EPS+5.9% move
Get the CRL recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-11-04T18:16:25.351955+00:00
- FN2 earnings calendar · 2026-11-04T01:23:13.345574+00:00
- Polygon adjusted daily market bars · 2026-11-04T18:50:45.642842+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-04T18:50:45.640182+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-04. For educational purposes only; not investment advice.