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- Oatly Group AB OTLY reported third-quarter FY21 sales growth of 49.2% year-on-year, to $171.06 million, missing the analyst consensus of $185.95 million.
- The company attributed the revenue increase to additional supply from its new production capacity in Vlissingen, Netherlands, to meet the growing global demand for its products.
- Revenues in the Americas grew 87.3% Y/Y, EMEA rose 23.1%, and Asia jumped 98.2%.
- The gross profit rose 24.7% Y/Y to $44.9 million with a profit margin of 26.2%, a 510 basis points decrease.
- The company incurred an operating loss of $(44.5) million versus $(7.88) million last year.
- The company held $403.1 million in cash and equivalents as of September 30, 2021.
- Adjusted EBITDA loss widened to $(27) million versus $(4.6) million last year primarily due to higher employee expenses, public company costs, and other operating expenses.
- Adjusted EPS of $(0.07) beat the analyst consensus of $(0.09).
- Outlook: Oatly sees FY21 revenue to exceed $635 million (prior view to exceed $690 million), representing a 51% rise Y/Y, versus the consensus of $694.08 million.
- Price Action: OTLY shares are trading lower by 18.9% at $9.58 in premarket on the last check Monday.
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