Oatly Group reports Q1 EPS (8c), consensus (9c)

Reports Q1 revenue $199.2M, consensus $197.78M. Jean-Christophe Flatin, Oatly’s CEO, commented, “I am pleased to report a solid start to the year. In the first quarter, our brand remained strong, our volumes moved in the right direction, our costs structurally came down while also benefiting from timing, and our business became stronger. We are clearly making progress on the three strategic pillars we are focusing on in 2024: bring the Oatly magic to more people, continue our work on the calibration of resources, and focus on execution. Overall, we are off to an encouraging start to the year. While we are pleased with this progress to date, we recognize we are only one quarter into our year, and we know we need to continue driving results and gaining traction on our strategic actions as we drive toward structural, consistent profitable growth. Accordingly, our full year guidance remains unchanged.”