Otter Tail posts record FY 2022 EPS of $6.78, guides FY 2023 EPS $3.76-$4.06

Otter Tail Corp

2022-FY EPS reported $6.78 revenue$1,469,475,000

FY 2022 diluted EPS $6.78 (+60% YoY); net income $284.2M (+61%); operating revenue $1.46B (+22%).
Q4 2022 diluted EPS $1.00 (-18.7% YoY) on lower Plastics segment earnings.
FY 2023 EPS guidance $3.76-$4.06, a 40-44% decline from 2022, as Plastics normalizes.
Quarterly dividend raised 6.1% to $0.4375/share ($1.75 annualized).
Electric segment plans ~$1B capex over 5 years for 6.4% rate base CAGR; Ashtabula III wind farm acquired.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Otter Tail Corp reported the quarter and year ended December 31, 2022 results: revenue $ 301.4 $ 333.2 $ 1,460.2 $ 1,196.8, net income $ 42.0 $ 51.6 $ 284.2 $ 176.8, EPS $ 1.00 $ 1.23 $ 6.78 $ 4.23. Guidance initiated.

Period: the quarter and year ended December 31, 2022
Revenue: $ 301.4 $ 333.2 $ 1,460.2 $ 1,196.8
Net income: $ 42.0 $ 51.6 $ 284.2 $ 176.8
EPS: $ 1.00 $ 1.23 $ 6.78 $ 4.23
Guidance: initiated
Result: reported results

Exact text from the filing

announced financial results for the quarter and year ended December 31, 2022. 2022 SUMMARY (in millions, except per share amounts) Q4 2022 Q4 2021 2022 2021 Operating Revenues $ 301.4 $ 333.2 $ 1,460.2 $ 1,196.8 Net Income $ 42.0 $ 51.6 $ 284.2 $ 176.8 Diluted Earnings Per Share $ 1.00 $ 1.23 $ 6.78 $ 4.23 Compared to the year ended December 31, 2021: •

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Source: SEC EDGAR

accession 0001466593-23-000050

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