Home Equities Score Oatly Group AB ADS (OTLY) Stock Trending Up Following Promising Financial Reports...

Oatly Group AB ADS (OTLY) Stock Trending Up Following Promising Financial Reports for Q1 2021

Oatly Group AB American Depositary Shares (OTLY) stock prices were up by a significant 18.82% as of the market closing on May 20th, 2021, bringing the price per share up to USD$20.20 at the end of the trading day. Subsequent pre-market fluctuations saw the stock rise by another 10.89%, bringing it up to USD$22.40.

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Stellar Financial Reports

The company reported massive success in their financial reports for the first quarter of the fiscal year 2021, disclosed at the end of April 2021, signaling a very strong start to the year. OTLY reported comparable-store sales growth of 24.8% for the quarter, setting a company record for the strongest quarterly comparable-store sales growth. Diluted earnings per share were also reported to have enjoyed a substantial 78% increase.

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Growth during a Pandemic

This success comes in spite of the onset of the global coronavirus pandemic creating several challenges, and extreme weather conditions. Along with the roadblocks presented by the pandemic, government stimulus programs proved to be a much-needed boost for the aftermarket auto parts retail giant. So much so, in fact, that the boosted performance resulted in the company raising their outlook for the fiscal year 2021.

Sales and Gross Profits Soaring

Q1 2021, ended March 31st, 2021, reported a 25% year-over-year increase in sales, amounting to a USD$614 million discrepancy. While Q1 2021 reported a stellar USD$3.09, the same time period from the year prior reported sales amounting to USD$2.48 billion. Gross profit was up by 27% over the same time period, resulting in a USD$1.64 billion increase. With Q1 2021 reported 53.1% of sales as gross profit, Q1 2020 had reported gross profit at USD$1.3 billion, amounting to 52.3% of their sales for the quarter.

Higher Net Income and G&A

Net income for Q1 2021 was reported at USD$502 million, up from the USD$300 million reported for the first quarter of the fiscal year 2020. Selling, general, and administrative expenses were up by 9% for Q1 2021, amounting to a USD$950 million increase as compared to the same time period of the prior year. Meanwhile, operating income for Q1 2021 was up by a massive 63%, from USD$424 million in Q1 2020 to USD$691 million in Q1 2021.

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Future Outlook for OTLY

With the government’s financial scaffolding contributing to the strength of OTLY’s financial reports for Q1 2021, the company has also inspired confidence with its raised outlook for the rest of the year. Current and potential investors are hopeful that the company will manage to leverage the resources at its disposal to usher in significant and sustained increases in shareholder value.

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