secwatch.observer — SEC 8-K summary
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Issuer:     Otter Tail Corp (OTTR)
CIK:        0001466593
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001466593-23-000124
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1466593/000146659323000124/0001466593-23-000124-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1466593/000146659323000124/ottr-20230501.htm
  HTML page:      https://secwatch.observer/filing/0001466593-23-000124

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