Oatly Shares Slide After Weak China Sales Weigh on 3Q Revenue

Dow Jones10-28 21:21

Shares of Oatly fell premarket after the maker of oaten dairy alternatives posted a third-quarter loss as sales in Chinese markets slid.

The Swedish maker of oat milk and other food products logged a third-quarter loss of $27.5 million, or 86 cents per American depositary share, narrower than the loss of $65.3 million, or $2.15 an ADS, a year earlier. On average, analysts had anticipated a loss of 81 cents a share, according to FactSet.

Revenue rose 9.1% to $243.1 million. Revenue rose 20% in the Europe and international region. In the Greater China region, revenue dropped 15%, amid intensified competition in the food-service market. Oatly is conducting a strategic review of its Chinese operations, and expects to complete the review in 2026.

Oatly reiterated a prior projection of 2026 constant currency revenue growth in a range between 8% and 10%.

Shares plunged 18% to $9.67, premarket.

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