Charles River Laboratories International, Inc. (NYSE:CRL) will look for strategic M&A. Flavia Pease, Chief Financial Officer said, "And so against that backdrop, we continue to be focused on advancing our strategic agenda. And in that, our priorities are to promote innovation to strengthen that portfolio of differentiated preclinical capabilities that I alluded to earlier. And that innovation can come either organically or inorganically through M&A. We're focused on adjacencies, spaces where we already have some presence and can leverage our capabilities.
And then also looking at some new adjacencies like we'll talk a little bit about names or these new alternative methods or approaches that were a lot of focus of our last earnings call". "From a cost perspective, we have implemented rightsizing of our workforce and then restructuring of our footprint that will generate over 5% of cost savings. And then finally, we're balancing our capital allocation with execution of stock repurchases, which we hadn't done in a while.
Speaking of capital allocation, we obviously have a balanced approach and continue to optimize our capital deployment. When we think about capital expenditures, we modulated the level of investments that we've done. We also, as I said, reinstated stock repurchases.
And we'll continue to look at strategic M&A as a priority, but we're obviously mindful to doing that in a way that we maintain reasonable debt levels".
