Why Oatly Stock Is Plummeting Today
Oatly (NASDAQ: OTLY) stock is sinking Wednesday following the release of its fourth-quarter results. The beverage specialist's share price was down 14.3% as of 12:30 p.m. ET and had been off by as much as 15.5% earlier in the session.
Oatly published its Q4 results before the market opened, posting a loss of $0.15 per share on revenue of $214.3 million in the quarter. Those figures came up short of Wall Street analysts' consensus estimates for a loss of $0.06 per share on revenue of $218.1 million.
Oatly's top line did increase 5% year over year in the fourth quarter, and its gross margin of 28.8% was an improvement from 23.4% in the prior-year period. In further positive news, its net loss of $91.2 million was narrower than its net loss of $298.7 million a year earlier. However, while the company continued to make improvements, investors were expecting more progress -- and its weaker-than-anticipated sales growth is raising concerns about the competitive strength of its beverage lines.
Source Fool.com
