Oatly Q2 Earnings Miss Estimates Dragged By Poor Asia Sales: 'Consumers Have Behaved Differently'
Portfolio Pulse from Shivani Kumaresan
Oatly Group AB reported Q2 FY23 sales growth of 10.13% year-on-year to $195.99 million, missing the consensus of $209.67 million. The increase was driven by price increases in EMEA and the Americas. However, sales in Asia declined by 14.9%. The company's operating loss for the quarter was $75.48 million, and EPS loss of $0.15 missed the analyst consensus of $0.12. Oatly shares are trading lower by 23.54% at $1.66.
July 27, 2023 | 4:30 pm
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Oatly's Q2 FY23 sales growth missed estimates, primarily due to poor sales in Asia. The company's shares are trading lower.
Oatly's Q2 FY23 sales growth missed estimates, primarily due to poor sales in Asia. This has negatively impacted investor sentiment, leading to a drop in the company's share price.
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