Oatly Group AB - ADR

NASDAQ:OTLY   4:00:00 PM EDT
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Layoffs, Other Pre-Announcement

Oatly Group's Q3 Revenue Rose 7% To $183 Mln

Published: 11/14/2022 13:29 GMT
Oatly Group AB - ADR (OTLY) - Oatly Reports Third Quarter 2022 Financial Results.
Q3 Revenue Increased 7.0% to $183.0 Million Compared to Prior Year Period.
Is Executing Overhead, Headcount Reduction Impacting Up to 25% of Costs Related to Group Corporate Functions and Regional Emea Layers.
Expects Annual Savings Up to $25 Million From Reorganization, Which Will Take Effect Starting in Q1 2023.
Has Identified Incremental Opportunities in Rest of Organization, Expects Up to $25 Million in Additional Annual Savings in H1 of 2023.
Unable to Make Reasonable Determination of Estimate of Severance, Other Costs Associated With Restructuring Plans at This Time.
Continues to Evaluate Global Operations, Potential Opportunities to Recalibrate Organizational Structure for Its Next Phase of Growth.
Qtrly Loss per Share, Attributable to Shareholders of Parent $0.18.
Q3 Earnings per Share View $-0.11, Revenue View $212.1 Million -- Refinitiv Ibes Data (analyst estimates).
Sees FY 2022 Revenue of $700 Million to $720 Million.
On a Constant Currency Basis Using 2021 Foreign Exchange Rates, Expects Revenue of $755 Million to $775 Million in FY 2022.
FY2022 Revenue View $798.6 Million -- Refinitiv Ibes Data (analyst estimates).