Otter Tail Q2 EPS $1.95 (-5% YoY), raises 2023 guidance to $5.70-$6.00

Otter Tail Corp

2023-Q2 EPS reported $3.44 revenue$676,797,000

Q2 2023: diluted EPS $1.95 (-5% YoY), revenue $338M (-16%), net income $82M (-5%).
2023 EPS guidance raised to $5.70-$6.00 from $4.55-$4.85, driven by stronger Plastics margins.
Plastics segment net income $55.4M (-13.4%) on 27% lower volume; margins remain elevated.
Electric segment net income $19.6M (+4.1%); 49MW Hoot Lake Solar on track for Q3 2023.
Quarterly dividend of $0.4375/share declared, payable Sept 8, 2023 to holders of record Aug 15.

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 ended June 30, 2023 results: revenue Consolidated operating revenues decreased 16% to $338 million., net income Consolidated net income decreased 5% to $82 million., EPS Diluted earnings per share decreased 5% to $1.95 per share.. Guidance raised.

Period: the quarter ended June 30, 2023
Revenue: Consolidated operating revenues decreased 16% to $338 million.
Net income: Consolidated net income decreased 5% to $82 million.
EPS: Diluted earnings per share decreased 5% to $1.95 per share.
Guidance: raised
Result: reported results

Exact text from the filing

OTTR) today announced financial results for the quarter ended June 30, 2023. SUMMARY Compared to the quarter ended June 30, 2022: • Consolidated operating revenues decreased 16% to $338 million. • Consolidated net income decreased 5% to $82 million. • Diluted earnings per share decreased 5% to $1.95 per share. CEO OVERVIEW “We are pleased with our

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Source: SEC EDGAR

accession 0001466593-23-000146

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