Otter Tail reports record Q2 EPS $2.07, up 6% YoY; raises 2024 EPS guidance to $6.77-$7.07

Otter Tail Corp

2024-Q2 EPS reported $3.84 revenue$689,638,000

Diluted EPS $2.07, up 6% from Q2 2023; net income driven by Plastics segment up 9% on higher volumes.
FY2024 EPS guidance raised to $6.77-$7.07 (previous $6.23-$6.53) due to Plastics strength and slower price decline.
Quarterly dividend $0.4675/share declared, payable Sept 10, 2024 to holders of record Aug 15, 2024.
Electric segment net income down 6% due to unfavorable weather; Manufacturing up 15% but expects softening in H2.
Minnesota PUC approved Integrated Resource Plan: 200-300 MW solar by 2027, wind/battery by 2029.

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