Oatly rises on Q1 revenue beat, narrower loss

Oatly AB

09/05/2023 16:54

** Shares of plant-based milk maker Oatly Group AB  OTLY.O 
up ~6% at $2.27
    ** Company beats Q1 revenue est. and posts a narrower
quarterly loss, helped by price hikes
    ** OTLY's revenue up 17.7% at $195.6 mln, vs analysts' avg.
est. of $187.5 mln - Refinitiv
    ** Net loss attributable to shareholders narrows to $75.6
mln, or 13 cents/shr, from $87.5 mln, or 15 cents/shr a year
earlier
    ** Oatly reiterates its full-year 2023 forecasts
    ** Company says Global President Jean-Christophe Flatin will
take over as CEO, effective June 1, succeeding Toni Petersson
    ** Petersson will transition to the role of co-chairman of
the board with Eric Melloul 
    ** YTD, shares up ~28%

 (Reporting by Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com; Twitter: https://twitter.com/Vanaik_Granth))