Otter Tail Q2 EPS $2.05, up 103% YoY; Raises FY2022 EPS guidance to $6.83-$7.13

Otter Tail Corp

2022-Q2 EPS reported $3.77 revenue$774,944,000

Q2 revenues $400M (+40% YoY); net income $86M (+104%); diluted EPS $2.05 (+103%).
Plastics segment net income $64M (+184%) on 86% higher PVC prices; manufacturing net income $7.6M (+32%).
Electric segment net income $18.9M (+22%) from new commercial load and rate case finalization.
FY2022 EPS guidance raised to $6.83-$7.13 from $5.15-$5.45; quarterly dividend $0.4125/sh declared.
Exercised option to purchase Ashtabula III wind farm for $49.7M; close expected Jan 2023.

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