Oatly (NASDAQ: OTLY) reported Q1 EPS of ($0.11), versus ($0.01) reported last year. Revenue for the quarter came in at $146.2 million, versus $95.3 million reported last year.

Outlook

For fiscal year 2021, the Company expects:

• Revenue to exceed $690 million, an increase of greater than 64% compared to fiscal year 2020 with accelerating growth across regions. This revenue outlook assumes very nominal contribution from the Company’s Maanashan, China facility that is on-track to open later this year. Any upside to the Company’s outlook will be a result of its ability to ramp production at a faster rate than anticipated. Assuming no significant changes from foreign exchange rates today, the Company expects the second half of 2021 exchange rates to be a single digit tailwind on a percentage basis compared to the second half of 2020.
• Capital expenditures at the low end of between $350 million and $400 million as previously communicated at the time of its IPO, including the new Ogden, Utah self-manufacturing capacity expansion announced today
• Production capacity to be approximately 600 million liters of finished goods at the end of the year

Long-term, the Company expects:

To generate gross margin of greater than 40% and EBITDA margin approaching 20% - as it benefits from a much larger self-manufacturing footprint globally, greater economies of scale and continued strong revenue growth

For earnings history and earnings-related data on Oatly (OTLY) click here.