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


Oatly Group AB
OTLY,
-0.71%

shares rose 0.8% in Monday premarket trading after the plant-based dairy company gave guidance ahead of expectations. Net loss totaled $59.1 million, or 11 cents per share, after a loss of $4.8 million, or a penny per share, last year. Revenue totaled $146.2 million, up from $95.3 million last year. The FactSet consensus was for a loss of 10 cents per share and revenue of $147.0 million. Oatly also announced expanded production capacity in an Ogden, Utah facility. Combined with other facilities around the world, the company expects 200% growth in production by the end of 2022 compared with 2020. For the year, Oatly expects revenue to exceed $690 million, with possible upside from a Maanashan, China facility that’s expected to open later this year. The FactSet consensus is for revenue of $681.8 million. Oatly shares began trading on May 20. The stock has tumbled 12.5% over the last month while the S&P 500 index
SPX,
+0.16%

is up 3.3% for the period.



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