Charles River Labs: And The Beat Goes On

Summary:

* Charles River reported Q3 2020 results that beat the top- and bottom-line estimates. Moreover, the company has beat analysts' earnings estimates in each of the last eight quarters. * Charles River appears to be well-positioned for 2021 and beyond, which also factors in the anticipated near-term COVID headwinds. * We are long Charles River, and we are looking to add to our position on any pullbacks.

Charles River Laboratories' (NYSE:CRL) stock has performed well so far in 2020, as shares are outperforming the broader market by a wide margin over the last 11-plus months. And it helps the bull case that the company's Q3 2020 results were well-received by the market, even after considering the fact that COVID has impacted several industries that Charles River operates in. Over the last few years, one thing has been consistent when it comes to Charles River Laboratories - the company consistently beats the top- and bottom-line estimates. For Q3 2020, the beat goes on.