• Fri. Oct 7th, 2022

Oatly Group Shares Slide On Q2 Revenue Miss, FY22 Outlook Cut

ByShivani Kumaresan

Aug 2, 2022
Oatly Group Shares Slide On Q2 Revenue Miss, FY22 Outlook Cut

  • Oatly Group AB OTLY reported second-quarter FY22 sales growth of 21.8% year-on-year to $177.96 million, missing the consensus of $183.64 million.
  • Revenue in the Americas jumped 25.2% Y/Y to $51.8 million, EMEA rose 5% to $82.5 million, and Asia grew 66.3% to $43.7 million.
  • The gross margin contracted by 1,060 basis points to 15.8%, and the gross profit declined 27.2% Y/Y to $28.1 million.
  • The operating loss for the quarter was $(74.4) million versus $(48.1) million last year.
  • The company held $182.2 million in cash and equivalents as of June 30, 2022.
  • EBITDA loss expanded to $(62.6) million versus $(43.5) million last year.
  • EPS loss of $(0.12) beat the analyst consensus of $(0.13).
  • “We are updating our outlook for the year based on the challenging operating environment today with the war in Ukraine, COVID-19, and inflationary and supply chain pressures,” said CEO Toni Petersson.
  • Outlook: Oatly sees FY22 sales of $800 million – $830 million and $835 million – $865 million on a constant currency basis, versus the prior outlook of $880 million – $920 million.
  • It expects capital expenditures of $220 million – $240 million.
  • Price Action: OTLY shares are trading lower by 5.36% at $3.71 in premarket on the last check Tuesday.



Image and article originally from www.benzinga.com. Read the original article here.