secwatch.observer — SEC 8-K summary
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Issuer:     Otter Tail Corp (OTTR)
CIK:        0001466593
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001466593-24-000109
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1466593/000146659324000109/0001466593-24-000109-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1466593/000146659324000109/ottr-20240506.htm
  HTML page:      https://secwatch.observer/filing/0001466593-24-000109

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