The stock closed down $2.46 (-20.81%) at $9.36 and is off another nickle in afterhours trade.
From Yahoo Finance:
Oatly (OTLY) shares are tanking after the oat-milk producer missed revenue expectations for its latest quarter and slashed its sales guidance.
The results were "disappointing, but also transitory," Cowen senior analyst Brian Holland told Yahoo Finance Live.
Revenue came in at $171.1 million in the third quarter, missing consensus expectations of $185.7 million, based on Bloomberg data.
The company forecasts sales will come in at more than $635 million for the year, a downward revision from its previous forecast for more than $690 million.
"They guided down ... I think resetting expectations is going to help here in the near term. We're going to reset here after this quarter," said Holland.
"The capacity dynamic— that's something that's ongoing. With each passing quarter that they can demonstrate that they are able to add capacity as promised, will help the stock."
"On the cost side I think that's going to be with us for the next 6-12 months, and that's not just an Oatly issue. That's across the industry," said Holland.
Supply-chain issues including higher logistics and higher container rates, as well as virus-related disruptions in Asia impacted the company's results. ....
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With Beyond Meats and Oatly getting whacked it's probably a good thing the other company in the WEF portfolio, Ÿnsect, isn't publicly traded.
Although, maybe, it would be protected by the gratuitous umlaut "Ÿ", it has a sort of a heavy metal vibe to it.
Previously:
And then, when their Ivermectin supplies were cut off following the Rolling Stone exposé, the unwashed hordes switched to anything horse-related that might treat their Covid fever dreams:
Covid-19: As The Peasants Attempt To Self-Medicate With Horse Food
The Price Of Oats Skyrockets
- If Klaus Schwab Won't Return My Calls, How Will I know When To Buy Oatly? (OTLY)
- Watch Out Oatly: "Oat Prices Hit Seven Year High" (OTLY)
- Oatly short seller says stock worth less than $10 after accusing company of overstating revenue
"How Oatly went from a decades-old obscure brand to a $10 billion IPO" (OTLY)
But first, an hysterical observation from Reuters Breakingviews:
Oatly often boasts its oat milk is particularly good for producing froth. The Swedish company has the same effect on investors. Shares in the maker of oat-based dairy substitutes opened 30% above their initial public offering price of $17 on Thursday, valuing it at around $13 billion. That should lure other purveyors of plant-based foods to the stock market.
The company led by Toni Petersson has enjoyed a dazzling rise. Powered by sharp marketing slogans such as "it’s like milk, but made for humans", and the backing of investors including Blackstone and Oprah Winfrey, Oatly has ridden the vogue for foods that produce fewer greenhouse gases and preserve water and land. Sales more than doubled to $421 million in 2020....MORE
Is it "an hysterical" or "a hysterical"? Churchill went with "A" for his book "A History of the English-Speaking Peoples" and he was pretty good with the words thing but sometimes "An" seems to fit better.
Be all that as it may be, here's CNBC, May 20:....
