Oatly Shares Sour After Q4 Earnings Report, Despite Revenue Growth
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Oatly shares plummeted after reporting a wider loss per share than expected in the fourth quarter. However, the company's quarterly revenues surpassed estimates and showed growth compared to the previous year. Oatly experienced revenue growth in retail and food service channels, but other channels declined. The company's gross margin improved, leading to a smaller adjusted EBITDA loss. Oatly forecasts revenue growth for 2024 and expects a loss in adjusted EBITDA. The stock price dropped by 15.1% to $1.14.
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