From The Motley Fool · Motley Fool Transcribing · · 2m
Oatly Q3 2026 Earnings Report Highlights
Oatly reports 9.1% revenue growth despite North American logistics inflation, revising full-year profit outlook downward.
In brief
Oatly reports 9.1% revenue growth despite North American logistics inflation, revising full-year profit outlook downward. Oatly's Q3 revenue grew 9.1% with 34.1% gross profit margin, but revised full-year adjusted EBITDA guidance down to $16m-$20m due to North American fuel and freight costs. Originally reported by…
Q3 Revenue Growth
Oatly reported $243.1 million revenue, a 9.1% increase driven by retail channel volume growth and international market expansion.
Constant Currency Revenue
Constant currency revenue grew 8.9% year-over-year, excluding a $513,000 foreign currency exchange tailwind.
Gross Profit Margin
Gross profit margin expanded to 34.1%, improving 436 basis points through supply chain efficiency and productivity gains.
Adjusted EBITDA
Adjusted EBITDA reached $9.4 million, an improvement of $6.3 million compared to the prior year period.
Full-Year Guidance
Full-year adjusted EBITDA guidance revised downward to $16 million to $20 million from $25 million to $35 million due to North American logistics costs.
Net Loss Per Share
Net loss per share narrowed to $0.04 from $0.11 in the same quarter last year.
Europe & International Revenue
Europe and international revenue grew 20.4% in constant currency behind 17.6% volume growth from Barista Edition products.
North America Revenue
North America revenue grew 2.9% in constant currency despite macro challenges, driven by retail channel expansion.
Greater China Revenue
Greater China revenue declined 19.3% in constant currency due to foodservice channel competition and difficult year-over-year comparison.
Sold Volume
Sold volume increased to 156.9 million liters, a 4.2% rise from 150.6 million liters in the prior year period.
North American Diesel Prices
North American diesel prices increased 70% since February 2026 and 40% since early July 2026, creating unoffset cost pressure.
Free Cash Flow
Free cash flow was negative $18.4 million, a decline from negative $5.4 million last year due to inventory building and capital expenditure timing.
Available Liquidity
Available liquidity stood at 95 million, including undrawn bank facilities as of the end of the third quarter.
Capital Expenditure Guidance
Capital expenditure guidance remains $20 million to $30 million, with final figure expected to align with the middle of that range.
Europe & International Adjusted EBITDA Margin
Europe and international adjusted EBITDA margin expanded to 21.4%, an increase of 370 basis points year over year.
North America Market Share Gap
North America market share gap narrowed to 2 percentage points from 8 percentage points in the summer of 2025.
The key point
Oatly's Q3 revenue grew 9.1% with 34.1% gross profit margin, but revised full-year adjusted EBITDA guidance down to $16m-$20m due to North American fuel and freight costs.
