Otter Tail reports record FY2023 EPS of $7.00; guides 2024 EPS $5.13-$5.43

Otter Tail Corp

2023-FY EPS reported $7.00 revenue$1,353,476,000

Q4 2023: revenue $314.3M, net income $57.8M, diluted EPS $1.37 (vs $1.00 a year ago).
Full year 2023: revenue $1.349B (-8% YoY); net income $294.2M (+4%); EPS $7.00 (+3% from $6.78).
Quarterly dividend raised 7% to $0.4675 ($1.87 annual); payable Mar 12, 2024 to holders Feb 26.
Electric segment net income $84.4M (+5.6%); Plastics segment net income $187.7M (-3.9%) on lower volumes/prices.
2024 EPS guidance: $5.13-$5.43; expects Plastics earnings decline but Electric +7%.

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 0.95

Otter Tail Corp reported for the quarter and year ended December 31, 2023 results: revenue Operating Revenues $ 314.3 $ 301.4 $ 1,349.2 $ 1,460.2, net income Net Income $ 57.8 $ 42.0 $ 294.2 $ 284.2, EPS Diluted Earnings Per Share $ 1.37 $ 1.00 $ 7.00 $ 6.78.

Period: for the quarter and year ended December 31, 2023
Revenue: Operating Revenues $ 314.3 $ 301.4 $ 1,349.2 $ 1,460.2
Net income: Net Income $ 57.8 $ 42.0 $ 294.2 $ 284.2
EPS: Diluted Earnings Per Share $ 1.37 $ 1.00 $ 7.00 $ 6.78
Result: reported results

Exact text from the filing

Otter Tail Corporation (Nasdaq: OTTR) today announced financial results for the quarter and year ended December 31, 2023. 2023 SUMMARY (in millions, except per share amounts) Q4 2023 Q4 2022 2023 2022 Operating Revenues $ 314.3 $ 301.4 $ 1,349.2 $ 1,460.2 Net Income $ 57.8 $ 42.0 $ 294.2 $ 284.2 Diluted Earnings Per Share $ 1.37 $ 1.00 $ 7.00 $ 6.78

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Otter Tail Corp reported fiscal year 2024 results: EPS diluted earnings per share guidance range of $5.13 to $5.43. Guidance initiated.

Period: fiscal year 2024
EPS: diluted earnings per share guidance range of $5.13 to $5.43
Guidance: initiated
Result: guidance update

Exact text from the filing

We are initiating our 2024 diluted earnings per share guidance range of $5.13 to $5.43.

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Source: SEC EDGAR

accession 0001466593-24-000034

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