OTLY - Oatly rips gain after pointing to improved manufacturing pace

Oatly Group AB (NASDAQ:OTLY) gained in early Wednesday trading after the company pointed to some late quarter strength as it edged past sales expectations with the Q1 report. Oatly (OTLY) said it saw significant improvements during March in the EMEA and Americas regions, with record revenue in EMEA and the largest production month ever for the Americas. Crucially, the company noted that some of the manufacturing challenges it experienced at the start of the year due to Omicron began to abate. CEO Toni Petersson: "Near-term margins and profitability have been impacted by the additional costs associated with scaling of our new facilities, and the inflationary environment, however, we continue to believe that we can achieve much better economies of scale and greater operating efficiencies through our more localized self-manufacturing, which will help us increase our growth while reducing our environmental impact and achieve profitability over the next several years." Shares

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Oatly rips gain after pointing to improved manufacturing pace