*Charles River reported Q1 2020 results that beat the top and bottom line estimates.
*The COVID-19-related headwinds will impact Charles River's results over the next few quarters, but the company is positioned to eventually benefit from the disruptions in the industry.
*This small-cap drug discovery and early-stage development company has a great long-term story to tell. Additionally, I believe that the company's investment thesis keeps getting stronger.
*We are long Charles River, and we are looking to add to our position later in 2020.
Charles River Laboratories' ($CRL) stock has performed well so far in 2020 (this is one of the few stocks in my portfolio that are actually up on the year). And it helps the bull case that the company's Q1 2020 results were well-received by the market, even with management ratcheting down their full-year 2020 guidance.
I believe that Charles River's long-term investment thesis remains intact. Therefore, look no further than this contract research organization ("CRO") if you are trying to find a company that will eventually benefit from the COVID-19 disruptions.
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