Oatly Group Posts Mixed Q4 Results; FY22 Outlook Lags Consensus

• Oatly Group AB (NASDAQ:OTLY) reported fourth-quarter FY21 sales growth of 46.3% year-on-year, to $185.93 million, beating the consensus of $174.22 million.
• Revenue in the Americas jumped 96.5% Y/Y to $55.5 million, EMEA rose 14.1% to $88.9 million, and Asia grew 97.9% to $41.6 million.
• The gross margin contracted by 1,180 basis points to 15.9%, and the gross profit declined 15.9% Y/Y to $29.6 million.
• The operating loss for the quarter was $(92.6) million versus $(29.6) million last year.
• The company held $545.5 million in cash and equivalents as of December 31, 2021.
• The EBITDA loss expanded to $(81.8) million versus $(25.8) million last year.
• EPS of $(0.13) missed the analyst consensus of $(0.09).
• Outlook: Oatly sees FY22 sales of $880 million - $920 million versus the consensus of $1.01 billion.
• It expects capital expenditures of $400 million - $500 million.
• Price Action: OTLY shares are trading lower by 2.44% at $5.59 on the last check Wednesday.