earnings
confidence high
sentiment neutral
materiality 0.65
Otter Tail Q3 EPS $2.03, down 7% YoY; raises FY2024 guidance to $6.97-$7.17
Otter Tail Corp
2024-Q3 EPS reported
$5.87
revenue$1,027,024,000
- Electric segment net income +16% to $28.5M on ND interim rates and FERC ruling; Plastics -8% to $54.5M on lower PVC prices.
- Manufacturing net income -71% to $2.2M on 13% lower sales volumes in RV, agriculture, construction end markets.
- Quarterly dividend declared $0.4675/share, payable Dec 10, record Nov 15.
- Total available liquidity $544M as of Sept 30; nine-month capex $259.8M, mainly in Electric segment.