Otter Tail reports record 2021 EPS $4.23; raises dividend 5.8%; guides 2022 EPS $3.78-$4.08

Otter Tail Corp

2021-FY EPS reported $4.23 revenue$1,196,844,000

2021 diluted EPS $4.23 vs $2.34 in 2020; Q4 EPS $1.23 vs $0.45 a year ago. Revenue $1.20B (+34.5% YoY).
Quarterly dividend increased to $0.4125/share ($1.65 annual), a 5.8% increase from $1.56 in 2021.
2022 EPS guidance $3.78-$4.08; electric segment net income expected +7%; plastics earnings to decline from 2021 record.
Electric segment net income +8.5% to $72.5M; plastics segment net income +255% to $97.8M; manufacturing +55.6% to $17.2M.
Minnesota PUC approved 9.48% ROE in rate case; final rates expected mid-2022. Capex guidance $182M for 2022.

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