Charles River Laboratories (CRL)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	2,725,238	2,967,802	2,951,397	2,949,294	3,279,053	3,029,325	2,956,794	2,842,522	2,700,532	2,264,469	1,853,042	1,386,903	1,073,541	1,035,887	992,729	998,595	958,311	922,414	892,498	870,375
Revenue (ttm)	US$ in thousands	4,097,200	4,325,190	4,303,632	4,238,180	4,106,274	3,792,022	3,683,743	3,605,712	3,459,843	3,333,185	3,172,755	2,930,880	2,859,828	2,759,976	2,697,739	2,671,095	2,595,709	2,506,101	2,411,563	2,341,443
Gross profit margin		66.51%	68.62%	68.58%	69.59%	79.85%	79.89%	80.27%	78.83%	78.05%	67.94%	58.40%	47.32%	37.54%	37.53%	36.80%	37.39%	36.92%	36.81%	37.01%	37.17%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $2,725,238K ÷ $4,097,200K
= 66.51%

The gross profit margin of Charles River Laboratories has exhibited significant variations over the past few quarters. The trend indicates a decrease in the gross profit margin from 79.85% in December 2022 to 66.51% in December 2023, reflecting a decline in profitability from the levels seen a year ago.

During the first half of 2021, the gross profit margin was relatively stable between 58.40% and 67.94%. However, there was a notable decrease in profitability in the second half of 2021, with margins dropping to as low as 36.80% in June 2021.

The margins improved gradually in 2022, reaching levels above 78%, but resumed a downward trend in 2023. The recent margins in 2023 have been hovering around the mid to high 60s.

This fluctuation in gross profit margin over the quarters suggests possible changes in the company's cost structure, pricing strategies, or operational efficiency. Further analysis would be needed to determine the specific reasons for these variations and whether they are indicative of any concerning trends in the company's financial performance.