The company now anticipates revenue growth between 8% and 10% in constant currency for the year, a significant jump from its previous guidance of 3% to 5%. This optimism follows a second-quarter performance where revenue climbed 15% to $240.1 million, comfortably beating the $219.5 million analysts had modeled. Concurrently, the firm narrowed its quarterly losses to $31.3 million, or 99 cents per American depositary share, compared to a $55.9 million loss during the same period last year.
In section Market Quotes
Oatly Shares Surge on Upgraded Annual Revenue Forecast
Shares of Swedish oat-milk producer Oatly Group climbed 16% to $10.50 in Wednesday premarket trading, following a second-quarter report that surpassed Wall Street expectations and prompted the company to raise its full-year growth outlook, despite a year-to-date decline in the stock's overall market value.
Chief Executive Jean-Christophe Flatin attributed the gains to strong demand and the successful execution of a strategy focused on refining channel, customer, and product mixes. He noted that the company’s growth playbook is currently outperforming in Europe while gaining momentum in North America. Oatly maintains its forecast for adjusted EBITDA between $25 million and $35 million, alongside capital expenditure projections in the $20 million to $30 million range, as the company continues to manage cost structures and navigate external pressures.
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