# Oatly Q3 2026 Earnings Report Highlights

> Oatly reports 9.1% revenue growth despite North American logistics inflation, revising full-year profit outlook downward.
- Title: Oatly Q3 2026 Earnings Report Highlights · The Motley Fool
- Summary: 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…
- Keywords: oatly, q3 2026, earnings call, revenue growth, adjusted ebitda, north american logistics, fuel prices, barista edition, fiber platform, greater china, finance, money
- Source: The Motley Fool — https://fool.com/earnings/call-transcripts/2026/10/28/oatly-otly-q3-2026-earnings-call-transcript
- Author: Motley Fool Transcribing
- Published: 2026-10-28T16:08:17+00:00
- Read time: 2 min
- Topics: oatly, q3 2026, earnings call, revenue growth, adjusted ebitda, north american logistics, fuel prices, barista edition, fiber platform, greater china, finance, money
## 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.
## Key takeaway

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.