---
schema_version: "secwatch.filing_event.v1"
accession: "0001466593-23-000124"
form_type: "8-K"
ticker: "OTTR"
cik: "0001466593"
company_name: "Otter Tail Corp"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T03:18:26.692377+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Otter Tail Q1 EPS $1.49 (-13% YoY); raises FY2023 guidance to $4.55-$4.85

## Summary
- Q1 net income $62M ($1.49 diluted EPS), down 13% YoY; revenues $339M (-10%).
- Electric segment earnings +21% to $23.2M; Manufacturing +68% to $6.9M; Plastics -34% to $33.7M.
- FY2023 EPS guidance raised to $4.55-$4.85 from $3.76-$4.06 on higher Plastics and Manufacturing expectations.
- Quarterly dividend declared $0.4375 per share, payable June 9, 2023; unchanged.
- Completed $50.6M purchase of Ashtabula III wind farm; 5-year capex plan totals $1,281M.

## SEC filing metadata
- accession: 0001466593-23-000124
- form_type: 8-K
- ticker: OTTR
- cik: 0001466593
- company_name: Otter Tail Corp
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1466593/000146659323000124/0001466593-23-000124-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1466593/000146659323000124/ottr-20230501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001466593-23-000124
- JSON: https://secwatch.observer/filing/0001466593-23-000124.json
- Plain text: https://secwatch.observer/filing/0001466593-23-000124.txt

## Key facts
- Earnings Releases
  Otter Tail Corp reported the quarter ended March 31, 2023 results: revenue $339 million, net income $62 million, EPS $1.49 per share. Guidance raised.
  - Period: the quarter ended March 31, 2023
  - Revenue: $339 million
  - Net income: $62 million
  - EPS: $1.49 per share
  - Guidance: raised
  - Result: reported results
  source text: today announced financial results for the quarter ended March 31, 2023. SUMMARY Compared to the quarter ended March 31, 2022: • Consolidated operating revenues decreased 10% to $339 million. • Consolidated net income decreased 13% to $62 million. • Diluted earnings per share decreased 13% to $1.49 per share. CEO OVERVIEW “We are pleased with our first quarter
  evidence_url: https://www.sec.gov/Archives/edgar/data/1466593/000146659323000124/0001466593-23-000124-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.