Oatly (OTLY) Announces Positive Q1 Earnings. Investors Milk Returns as Shares Rise 15%.

Maybe oat milk is going to stick around longer than some may have thought. The world’s original and largest oat drink company Oatly Group (OTLY) announced positive Q1 financial results, before market open today and is currently leading the PRISM Consumer Products Index as shares have risen 15%, upon the release.

Oatly investors were not crying over spilled oat milk as the company was in line on its Q1 EPS ($0.08) vs FactSet ($0.08), beat on quarterly revenues $199.2M vs FactSet $197.6M and on adjusted EBITDA ($13.2M) vs FactSet ($23.2M). On the earnings call, it was cited that the company’s food service channel experienced strong growth of 30% and has announced new terms with the largest US food service customer which will support profitable growth. Additionally, the company cited supply chain improvements in North America which translated into higher-than-expected gross profit. The savings from these improvements can be expected to continue throughout the year.

Hopefully as investors sow their OTLY position in their portfolio they can continue to reap the returns throughout the year as the company grows.