Oatly earnings miss but forecasts full-year revenue ahead of expectations

2 months ago 18
PR Distribution

Oatly Group AB OTLY, -0.71% shares roseate 0.8% successful Monday premarket trading aft the plant-based dairy institution gave guidance up of expectations. Net nonaccomplishment totaled $59.1 million, oregon 11 cents per share, aft a nonaccomplishment of $4.8 million, oregon a penny per share, past year. Revenue totaled $146.2 million, up from $95.3 cardinal past year. The FactSet statement was for a nonaccomplishment of 10 cents per stock and gross of $147.0 million. Oatly besides announced expanded accumulation capableness successful an Ogden, Utah facility. Combined with different facilities astir the world, the institution expects 200% maturation successful accumulation by the extremity of 2022 compared with 2020. For the year, Oatly expects gross to transcend $690 million, with imaginable upside from a Maanashan, China installation that's expected to unfastened aboriginal this year. The FactSet statement is for gross of $681.8 million. Oatly shares began trading connected May 20. The banal has tumbled 12.5% implicit the past period portion the S&P 500 scale SPX, +0.16% is up 3.3% for the period.

Read Entire Article