The earnings call reflected a balanced sentiment, highlighting significant strides in achieving profitable growth across all segments and improved financial metrics, while also acknowledging challenges such as revised guidance and regional market sluggishness.

Company Guidance

During the Oatly third quarter 2024 earnings call, the company refined its full-year guidance, expecting constant currency revenue growth to be near or slightly below the low end of the previously provided range of 6% to 10%. Adjusted EBITDA is anticipated to be near the favorable end of the range of minus $35 million to minus $50 million, and capital expenditures are projected to be below $55 million, down from the prior expectation of below $70 million. The call highlighted a 10.9% year-over-year revenue growth and a gross margin improvement to 29.8%, which is 1,240 basis points higher than the previous year. Oatly reported a $5 million adjusted EBITDA loss, marking the fifth consecutive quarter of sequential improvement. The company also noted that each of its three operating segments drove profitable growth, with a notable 18% revenue increase in North America and a 12% constant currency sales growth in Greater China.

Profitable Growth in All Segments

Each of the three operating segments drove profitable growth in the quarter, marking a significant milestone towards consistent profitable growth for the overall business.

Improved Gross Margin and EBITDA

Gross margin for the quarter was 29.8%, 1,240 basis points higher than a year ago. Adjusted EBITDA loss improved to $5 million, demonstrating operational discipline and profitability improvement.

Strong Performance in North America

North America segment reported 18% revenue growth and a $11 million year-on-year improvement in adjusted EBITDA, with retail and food service channels both showing strong growth.

Greater China Segment's First Profitable Quarter

Greater China reported its first quarter of profitable growth with a 12% increase in sales on a constant currency basis and adjusted EBITDA of $2 million.

Cash Flow Improvement

The company reported its best quarterly free cash flow performance since the IPO, with a strong liquidity position of $322 million.

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Oatly Group (OTLY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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OTLY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 16, 2021	2021 (Q2)	-0.10 / -0.11	-0.008	-1275.00% (-0.10)	―	―
Nov 15, 2021	2021 (Q3)	-0.10 / -0.07	-0.018	-288.89% (-0.05)	―	―
Mar 09, 2022	2021 (Q4)	-0.10 / -0.13	-0.063	-106.35% (-0.07)	―	―
May 04, 2022	2022 (Q1)	-0.13 / -0.15	-0.055	-172.73% (-0.10)	―	―
Aug 02, 2022	2022 (Q2)	-0.14 / -0.12	-0.11	-9.09% (>-0.01)	―	―
Nov 14, 2022	2022 (Q3)	-0.10 / -0.18	-0.07	-157.14% (-0.11)
Mar 15, 2023	2022 (Q4)	-0.14 / -0.21	-0.13	-61.54% (-0.08)
May 09, 2023	2023 (Q1)	-0.13 / -0.13	-0.15	13.33% (+0.02)
Jul 27, 2023	2023 (Q2)	-0.13 / -0.15	-0.12	-25.00% (-0.03)
Nov 09, 2023	2023 (Q3)	-0.12 / -0.07	-0.18	61.11% (+0.11)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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OTLY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 07, 2024	$0.93	$0.77	-17.20%
Jul 24, 2024	$1.00	$0.97	-3.00%
Apr 30, 2024	$1.00	$1.15	+15.00%
Feb 15, 2024	$1.35	$1.21	-10.37%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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