Oatly (OTLY) reported Q3 EPS of ($0.18), $0.07 worse than the analyst estimate of ($0.11). Revenue for the quarter came in at $183 million versus the consensus estimate of $211.22 million.
GUIDANCE:
Oatly sees FY2022 revenue of $700-720 million, versus the consensus of $798.6 million.
- Revenue of $700 million to $720 million, an increase of 9% to 12% compared to full year 2021. The updated foreign currency exchange rates account for $15 million of the revision to the previously provided range. On a constant currency basis using 2021 foreign exchange rates, the Company expects revenue of $755 million to $775 million, an increase of 17% to 20% compared to full year 2021.
- Capital expenditures between $220 million and $240 million, no change from the previous guidance. The Company is phasing its production footprint expansion due to the current operating environment and expects this to result in significant savings in 2022 capital expenditures.
- Run-rate production capacity to be approximately 900 million liters of finished goods at the end of the year.