Oatly stock jumps on McDonald's Austria partnership

M&A · PartnershipEarnings
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Summary · why it matters

Shares of Oatly rose as much as 12% on Monday after the oat milk company announced a partnership with McDonald's to supply its Barista Edition oat milk to all McCafe locations in Austria. The stock was up 7% as of noon ET. The expansion builds on an existing relationship and comes after CEO Toni Petersson said on last week's fourth-quarter earnings call that the supply chain is now able to fulfill all orders, supporting volume growth in 2023. Oatly reported an operating loss of nearly $400 million in 2022 and expects gross margin to improve from 15.9% in the fourth quarter to the high-20% range by the end of 2023, aiming for positive EBITDA in 2024.

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