Got Oats? Oatly (OTLY) Reports Q2 Earnings Beats Estimates, Raises Guidance

The PRISM Consumer Products Index company Oatly Group AB (OTLY) reported its Q2 financials beating estimates on EPS ($0.05) vs FactSet (0.07), revenues $202.2M vs FactSet $201.3M and adjusted EBITDA ($11.0M) vs FactSet ($15.8M). FY 2024 guidance was increased on constant currency revenue growth +6%-10% vs prior guidance +5%-10% and but trimmed guidance on adjusted EBITDA ($35M)-(50M) vs prior guidance ($35M)-(60M) and FactSet ($47.2M).

Jean-Christophe Flatin, Oatly’s CEO, commented, “Given our solid performance through the first half of the fiscal year, and an increased confidence in our second-half outlook, we are updating our full-year guidance to be more favorable than our prior outlook. In the second half of the year, our priorities will be completing our work on the calibration of resources, investing in high-return demand generating investments, and maintaining our north star target to drive the business toward structural, consistent profitable growth.”