Oatly (NASDAQ: OTLY) reported Q3 EPS of ($0.07), $0.05 better than the analyst estimate of ($0.12). Revenue for the quarter came in at $187.6 million versus the consensus estimate of $194.23 million.

Outlook:

The Company now expects:

Revenue growth for full year 2023 on a constant currency basis near the low end of its previously-provided range of 7% to 12% vs. estimated growth of 8.54% Y/Y.
Foreign exchange to reduce net sales by approximately 100 basis point for the year.
Fourth quarter gross margin in the mid-20%s, and
Capital expenditures for full year 2023 below $75 million.

The Company continues to believe this progress will enable it to deliver positive Adjusted EBITDA for the fiscal year 2024. The Company also expects for capital expenditures in 2024 to be below $75 million.

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