Oatly Posts $243.1 Million in Revenue, Cuts 2026 Profit Outlook Amid Cost Pressures
Key Facts
Oatly reported revenue of $243.1 million in the third quarter of 2026, up 9.1% from the same period a year earlier, while revenue in constant currency rose 8.9%, according to the company. At the same time, it cut its 2026 adjusted earnings before interest, taxes, depreciation and amortization outlook after saying fuel and freight inflation in North America was stronger and faster than expected. The company added that the delayed timing of offsetting measures would weigh on fourth-quarter earnings. Sales growth therefore coincided with improved quarterly profitability metrics, while operating costs became a drag on the annual outlook. Oatly announced its results on October 28, 2026, the same day it was scheduled to hold an earnings call at 8:00 a.m. Eastern Time.
Gross margin was 34.1% in the third quarter, up 4.4 percentage points year over year, according to Oatly. Net loss attributable to the parent company's shareholders narrowed to $27.5 million, compared with a loss of $65.3 million in the third quarter of 2025. On an adjusted earnings before interest, taxes, depreciation and amortization basis, the company posted $9.4 million, up $6.3 million from the comparable period. The figures show improvements in margin, losses and adjusted earnings during the quarter, alongside higher revenue. However, the company tied its lower annual outlook to delays in measures to offset higher fuel and freight costs, saying the impact of the delay would be felt in fourth-quarter earnings.
The company attributed constant-currency revenue growth to accelerating growth in Europe and international markets, as well as North American growth led primarily by the retail channel. Performance varied by region: Greater China revenue fell 14.6% year over year to $32.0 million in the third quarter, a decline of $5.5 million. Oatly said competition in the foodservice market was the main reason for the drop, while higher retail sales offset part of the decline. This puts growth in the North American and China retail channels against weaker foodservice activity in the Chinese market. The company is also continuing its strategic review of its Greater China business and expects to complete it during 2026, without guaranteeing that it will result in a deal or strategic change.
The results provide recent context for Kirby, a company operating in marine transportation, distribution and services. In the second quarter of 2026, diluted earnings per share were $1.67, unchanged from the same period in 2025 but up 11% from the previous quarter. Marine transportation revenue rose 9% year over year, while distribution and services revenue grew 6%, according to the company's second-quarter results. Kirby had then forecast 2026 earnings-per-share growth in a range of 5% to 15%, saying results could trend toward the upper end of the range given prevailing market conditions. Those figures reflect its earlier guidance and do not by themselves establish that the company raised its annual target in its third-quarter results.
EL7 data showed Kirby shares closed at $137.06 on October 27, 2026, while Oatly shares closed at $11.75 that day. Kirby said its third-quarter results would be released on October 28 at 6:00 a.m. Central Daylight Time, followed by an earnings conference call at 7:30 a.m. Oatly had scheduled its call for the same day at 8:00 a.m. Eastern Time. The companies' announcements are expected to provide an updated view of Kirby's performance and annual guidance, while Oatly's follow-up will show how it plans to address fuel and freight pressures and its Greater China business.