secwatch.observer — SEC 8-K summary
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Issuer:     Otter Tail Corp (OTTR)
CIK:        0001466593
Form:       8-K
Filed at:   2022-11-01T23:59:59+00:00
Accession:  0001466593-22-000070
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.03, 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Otter Tail posts record Q3 EPS $2.01, up 60% YoY; cuts FY2022 guidance to $6.42-$6.72
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- Q3 net income $84M, diluted EPS $2.01 (up 60% YoY); revenues $384M, up 21%.
- Plastics segment net income $56M (up 97%) on elevated PVC margins; demand softening due to resin price declines.
- FY2022 EPS guidance lowered to $6.42-$6.72 from $6.83-$7.13; midpoint still 55% above 2021 EPS of $4.23.
- Board declares quarterly dividend $0.4125/share, payable Dec 9, 2022, record Nov 15, 2022.
- Otter Tail Corp and OTP each entered new $170M revolving credit facilities, maturing Oct 2027; no amounts drawn initially.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1466593/000146659322000070/0001466593-22-000070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1466593/000146659322000070/ottr-20221031.htm
  HTML page:      https://secwatch.observer/filing/0001466593-22-000070

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer