Why Oatly Stock Jumped Today
Yahoo Finance ·
Shares of Oatly Group ( OTLY +19.12% ) popped on Wednesday after the Swedish beverage maker boosted its full-year sales growth outlook. Oatly's revenue climbed 15.2% to $240 million in the second quarter. The gains were fueled by strong growth in Europe and other international markets. During a conference call with analysts, chief operating officer Daniel Ordonez said that oat milk sales are growing faster than those of other plant-based milks, and Oatly is gaining market share in the industry. Oatly is expanding beyond its base of lactose-intolerant people and environmentally conscious consumers while keeping "taste, health, and sustainability at the core," according to Ordonez.
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