Otter Tail Q1 EPS $1.77 (+19% YoY); raises 2024 guidance to $6.23–$6.53

Otter Tail Corp

2024-Q1 EPS reported $1.77 revenue$347,241,000

Diluted EPS $1.77 vs $1.49 in Q1 2023; Plastics segment net income +38.8% to $46.7M.
2024 EPS guidance raised to $6.23–$6.53 (midpoint $6.38) from $5.13–$5.43 on Plastics strength.
Electric net income $22.5M (-3.2%) as warmer weather reduced retail sales; interim ND rate increase effective Jan 1, 2024.
Manufacturing net income $5.3M (-23.3%) due to lower sales volumes in horticulture and lawn/garden.
Quarterly dividend $0.4675/share declared, payable June 10, 2024; issued $120M long-term debt to repay short-term borrowings.

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 0.9

Otter Tail Corp reported 2024 results: EPS a range of $6.23 to $6.53. Guidance raised.

Period: 2024
EPS: a range of $6.23 to $6.53
Guidance: raised
Result: guidance update

Exact text from the filing

We are increasing our 2024 diluted earnings per share guidance to a range of $6.23 to $6.53 from our initial range of $5.13 to $5.43 due primarily to stronger than expected Plastics segment performance.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Otter Tail Corp reported the quarter ended March 31, 2024 results: EPS $1.77 per share.

Period: the quarter ended March 31, 2024
EPS: $1.77 per share
Result: reported results

Exact text from the filing

Otter Tail Corporation (Nasdaq: OTTR) today announced financial results for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0001466593-24-000109

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