Otter Tail reports record Q3 EPS of $2.19; raises FY2023 guidance to $6.76-$6.96

Otter Tail Corp

2023-Q3 EPS reported $5.63 revenue$1,034,853,000

Consolidated net income $92M, EPS $2.19 (+9% YoY); revenue $358M (-7%).
Plastics segment net income $59.2M (+6%) driven by wider resin spreads; Manufacturing net income $7.4M (+20%) on higher volumes.
Board declares Q4 dividend of $0.4375/share, payable Dec 8 to record Nov 15.
Hoot Lake Solar (49 MW) became operational in August; Otter Tail Power to file for ~$17M rate increase in ND on Nov 2.
FY2023 EPS guidance raised to $6.76-$6.96 (from $5.70-$6.00), driven by Plastics outperformance.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Otter Tail Corp updated its third quarter of 2023 guidance (raised).

Period: third quarter of 2023
Guidance: raised
Result: reported results

Exact text from the filing

On October 30, 2023 Otter Tail Corporation issued a press release announcing its consolidated financial results for the third quarter of 2023.

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Source: SEC EDGAR

accession 0001466593-23-000159

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