Okay, so let's say an average of .8a draw on the battery.
A new set of CR123 batteries gives ~1500mah(1.5 amp/hour) capacity, give or take a little.
So, 1.5 amp/hour capacity, divided by .8 amp draw, comes out to 1.875 hours, or 112.5 minutes of runtime, on a theoretical scale with a full set of batteries.
Since things are rarely perfect to the theoretical scale, you might expect up to an hour and forty-five minutes, out of a new set of batteries.
You'd have to do an actual timed run-time test with your particular light and your particular batteries to get the exact figures, and even that will vary if the batteries have any variations.