Strong sales growth drives earnings outperformance
Oatly Group AB (NASDAQ:OTLY) reported stronger-than-expected second-quarter 2026 results on Wednesday, with robust revenue growth prompting the company to raise its full-year sales outlook.
The oat-based beverage maker generated revenue of $240.1 million during the quarter, a 15% increase from a year earlier and well above analysts’ consensus estimate of $220.1 million.
The company also reported an adjusted loss of $0.99 per ADS, outperforming market expectations for a loss of $1.02.
Investors welcomed the results, sending Oatly shares up more than 16% in premarket trading.
Company lifts revenue growth forecast
Following the stronger quarter, Oatly increased its full-year constant currency revenue growth guidance to between 8% and 10%, compared with its previous forecast of 3% to 5%.
The updated midpoint of 9% reflects significantly stronger expectations for sales growth through the remainder of 2026.
The company left its adjusted EBITDA guidance unchanged at a range of $25 million to $35 million for the full year.
Europe leads growth across all regions
Revenue increased in each of Oatly’s operating markets, with Europe & International delivering the strongest performance.
Sales in the region rose 21% year over year to $143.1 million, driven primarily by a 16.9% increase in sales volumes.
North America generated revenue of $66.9 million, up 5.9%, while Greater China recorded revenue growth of 11.6% to $30.1 million.
On a constant currency basis, total company revenue increased 12.7% compared with the same period last year.
“I am pleased to report another quarter of profitable growth marked by demand-led value creation,” said CEO Jean-Christophe Flatin.
“Our second quarter results reflect the disciplined execution of our strategy including improvements to the mix of channels, customers, and products.”
Profitability continues to improve
Adjusted EBITDA turned positive at $0.4 million, compared with a loss of $3.6 million in the prior-year quarter, supported by stronger gross profit.
Gross margin expanded by 143 basis points to 33.9%, reflecting improved supply chain efficiency and a more favourable mix of sales channels.
Oatly also reduced its net loss to $31.3 million from $55.9 million in the second quarter of 2025, highlighting continued progress toward sustained profitability.