Oatly improvement continues as North American earnings turn positive.

Oatly, a Sweden-based alternative dairy company, has reported a narrowing of losses in the second quarter, with CEO Jean-Christophe Flatin describing it as a quarter of solid progress. The company saw its losses decrease to $11 million, a $41.5 million improvement from the previous year, while revenue increased by 3.2% to $202.2 million. Oatly's North American operation also reported its first full quarter of positive adjusted EBITDA, with earnings of $1.2 million compared to a loss of $10.9 million the previous year. The company has also seen positive results from its China operation. Oatly has adjusted its full-year guidance upwards, expecting constant currency revenue growth in the range of 6% to 10% and adjusted EBITDA in the range of -$35 million to -$50 million. The company remains on track with its cost-saving program and the exit of its manufacturing facilities in the US and the UK. [Extracted from the article]