$CRL

CHARLES RIVER LABORATORIES INTERNATIONAL, INC.

CIK:0001100682|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2026	Jun. 28, 2025	Jun. 27, 2026	Jun. 28, 2025
Total revenue	$ 1,004,078	$ 1,032,135	$ 1,999,908	$ 2,016,303
Costs and expenses
Selling, general and administrative	228,897	191,549	388,319	369,348
Amortization of intangible assets	14,589	65,384	29,934	130,648
Operating income	119,888	100,134	239,785	174,803
Other income (expense)
Interest income	1,032	1,097	2,065	2,501
Interest expense	(30,340)	(29,967)	(57,082)	(57,851)
Other (expense) income, net	(37,410)	154	(161,540)	(12,057)
Income before income taxes	53,170	71,418	23,228	107,396
Provision for income taxes	53,930	18,725	38,790	28,825
Net income (loss)	(760)	52,693	(15,562)	78,571
Less: Net income attributable to noncontrolling interests	722	367	763	776
Net income (loss) attributable to common shareholders	$ (1,482)	$ 52,326	$ (16,325)	$ 77,795
Earnings (loss) per common share
Basic (in dollars per share)	$ (0.03)	$ 1.06	$ (0.34)	$ 1.56
Diluted (in dollars per share)	$ (0.03)	$ 1.06	$ (0.34)	$ 1.55
Weighted-average number of common shares outstanding
Basic (in shares)	48,021	49,149	48,486	49,913
Diluted (in shares)	48,021	49,316	48,486	50,089
Service
Total revenue	$ 808,287	$ 840,836	$ 1,606,439	$ 1,638,759
Costs and expenses
Cost of revenue (excluding amortization of intangible assets)	552,007	584,876	1,160,914	1,162,304
Product
Total revenue	195,791	191,299	393,469	377,544
Costs and expenses
Cost of revenue (excluding amortization of intangible assets)	$ 88,697	$ 90,192	$ 180,956	$ 179,200

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
Cash flows relating to operating activities
Net income (loss)	$ (15,562)	$ 78,571
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	134,441	239,871
Long-lived asset impairments	26,279	31,203
Stock-based compensation	42,162	30,184
Deferred income taxes	12,077	(41,030)
Write down of inventories	3,165	11,067
(Gains) losses and impairments on venture capital and strategic equity investments, net	(6,936)	12,899
Gain on sale of assets	(38,484)	0
Provision for credit losses	1,124	2,191
(Gain) loss on divestitures, net	181,386	(3,376)
Other, net	(12,595)	2,266
Changes in assets and liabilities:
Trade receivables and contract assets, net	(87,135)	(18,490)
Inventories	43,747	(13,953)
Accounts payable	21,276	16,241
Accrued compensation	(64,858)	38,990
Deferred revenue	5,593	11,306
Customer contract deposits	(4,543)	568
Other assets and liabilities, net	(20,335)	(22,208)
Net cash provided by operating activities	220,802	376,300
Cash flows relating to investing activities
Acquisition of businesses and assets, net of cash acquired	(467,254)	0
Capital expenditures	(87,013)	(94,622)
Purchases of investments and contributions to venture capital investments	(11,805)	(8,090)
Proceeds from sale of investments	11,059	2,106
Proceeds from sale of businesses and assets, net	176,563	17,441
Other, net	(1,298)	347
Net cash used in investing activities	(379,748)	(82,818)
Cash flows relating to financing activities
Proceeds from long-term debt and revolving credit facility	1,265,258	963,363
Payments on long-term debt, revolving credit facility, and finance lease obligations	(745,927)	(887,706)
Proceeds from exercises of stock options	1,620	1
Purchase of treasury stock	(323,881)	(360,484)
Payments of contingent consideration	(11,400)	(21,822)
Purchase of remaining equity interests of other redeemable noncontrolling interest	0	(19,140)
Other, net	(2,607)	(6,458)
Net cash provided by (used in) financing activities	183,063	(332,246)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	467	17,934
Net change in cash, cash equivalents, and restricted cash	24,584	(20,830)
Cash, cash equivalents, and restricted cash, beginning of period	215,997	205,570
Cash, cash equivalents, and restricted cash, end of period	$ 240,581	$ 184,740

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 27, 2026	Dec. 27, 2025
Current assets:
Cash and cash equivalents	$ 192,025	$ 213,770
Trade receivables and contract assets, net of allowances for credit losses of $8,715 and $10,463, respectively	711,755	708,856
Inventories	346,260	299,103
Prepaid assets	100,409	96,108
Other current assets	178,657	129,212
Total current assets	1,529,106	1,447,049
Property, plant and equipment, net	1,494,914	1,655,219
Venture capital and strategic equity investments	206,470	206,972
Operating lease right-of-use assets, net	330,247	361,415
Goodwill	3,076,851	2,764,253
Intangible assets, net	253,174	339,995
Deferred tax assets	53,827	67,334
Other assets	587,556	293,185
Total assets	7,532,145	7,135,422
Current liabilities:
Accounts payable	140,983	148,800
Accrued compensation	187,835	268,854
Deferred revenue	203,035	210,418
Accrued liabilities	380,101	270,085
Other current liabilities	222,792	222,158
Total current liabilities	1,134,746	1,120,315
Long-term debt, net and finance leases	2,619,985	2,136,360
Operating lease right-of-use liabilities	407,708	434,048
Deferred tax liabilities	78,668	95,203
Other long-term liabilities	402,511	138,302
Total liabilities	4,643,618	3,924,228
Commitments and contingencies (Notes 2, 12, 14, and 16)
Redeemable noncontrolling interests	42,537	41,263
Equity:
Preferred stock, $0.01 par value; 20,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $0.01 par value; 120,000 shares authorized; 49,550 shares issued and 47,728 shares outstanding as of June 27, 2026, and 49,217 shares issued and outstanding as of December 27, 2025	496	492
Additional paid-in capital	1,986,023	1,947,301
Retained earnings	1,372,295	1,388,620
Treasury stock, at cost, 1,822 and zero shares, as of June 27, 2026 and December 27, 2025, respectively	(323,189)	0
Accumulated other comprehensive loss	(195,989)	(171,783)
Total Charles River Laboratories International, Inc. equity	2,839,636	3,164,630
Nonredeemable noncontrolling interest	6,354	5,301
Total equity	2,845,990	3,169,931
Total liabilities, redeemable noncontrolling interests and equity	$ 7,532,145	$ 7,135,422