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Why Oatly Shares Are Falling Today

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  • OTLY

Oatly Group AB (NASDAQ: OTLY) is trading significantly lower Monday after the company announced worse-than-expected third-quarter revenue results and issued guidance.

Oatly reported a quarterly earnings loss of 7 cents per share, which beat the estimate for a loss of 9 cents per share. The company reported quarterly revenue of $171.1 million, which came in below the estimate of $185.95 million.

Oatly expects full-year 2021 revenue to be at least $635 million versus the estimate of $694.08 million.

View more earnings on OTLY

“Global consumer demand for our products continues to be strong and grow as we expand production and increasingly scale our operations. The robust third quarter revenue increase reflects broad-based growth across geographies and sales channels," said Toni Petersson, CEO of Oatly.

Related Link: Oatly Group Shares Plummet On FY21 Revenue Outlook Cut

OTLY Price Action: Oatly has traded as high as $29 and as low as $11.13 over a 52-week period.

The stock was down 22% at $9.21 at time of publication.

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