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Otter Tail Corporation (OTTR) operates at the intersection of energy innovation and industrial manufacturing, serving customers across the Midwest and Canada. This news hub provides investors and stakeholders with timely updates on the company’s electric utility operations, manufacturing advancements, and infrastructure developments.
Access consolidated financial announcements, operational milestones, and strategic initiatives in one centralized location. Our curated collection includes earnings reports, regulatory filings, partnership announcements, and technology implementation updates relevant to OTTR’s diversified business model.
Key focus areas span energy production innovations, industrial fabrication projects, and plastics processing advancements. Users will find updates on grid modernization efforts, manufacturing capacity expansions, and sustainability initiatives aligned with the company’s operational strategy.
Bookmark this page for streamlined access to Otter Tail Corporation’s latest developments. Combine these updates with SEC filings and market analysis for comprehensive investment research.
Otter Tail (OTTR) has announced it will release its first quarter 2025 financial results after market close on Monday, May 5, 2025. The company will host a live conference call and webcast to discuss its financial and operating performance on Tuesday, May 6, 2025, at 10:00 a.m. CT.
Presentation slides will be available on the company's website prior to the webcast. Investors can access the live webcast through www.ottertail.com/events-and-presentations. A recording of the webcast will be available on the 's website shortly after the call.
Otter Tail (OTTR) reported record earnings for 2024 with diluted earnings per share of $7.17 and a consolidated return on equity of 19.3%. The company's Electric segment achieved a 7.7% growth, with an updated five-year rate base compound annual growth rate of 9.0%. The Plastics segment generated record earnings of $201 million, while the Manufacturing segment faced softened end market demand.
The company's consolidated cash from operations reached a record $452.7 million in 2024, up from $404.5 million in 2023. Capital expenditures totaled $358.7 million, primarily in the Electric segment. The company maintains strong liquidity with $606.3 million available.
Looking ahead, Otter Tail has increased its long-term earnings per share growth rate target to 6-8% and initiated 2025 diluted earnings per share guidance of $5.68 to $6.08, reflecting Electric segment growth of approximately 7% but expecting declines in Plastics and Manufacturing segments.
Otter Tail (OTTR) has announced a 12.3% increase in its quarterly dividend to $0.525 per share, bringing the annual indicated dividend rate to $2.10 per share. This represents a $0.23 increase over the 2024 rate. The company's CEO Chuck MacFarlane attributed this double-digit increase to Otter Tail's strong financial position and commitment to shareholder value.
The first quarter dividend will be paid on March 10, 2025, to shareholders of record on February 14, 2025. This marks the company's 87th consecutive year of dividend payments on common stock. Future annual dividend increases are expected to align with the company's long-term earnings per share growth rate target.
Otter Tail (Nasdaq: OTTR) has announced it will release its 2024 financial results on Monday, February 17, 2025. The company will host a live conference call and webcast to discuss its financial and operating performance on Tuesday, February 18, 2025, at 10:00 a.m. CT. Presentation slides will be available on the company's website before the webcast begins. Investors can access the live webcast through www.ottertail.com/events-and-presentations. A recording of the webcast will be available on the 's website after the call.
Otter Tail Power Company has received approval from the North Dakota Public Service Commission for a $13.1 million net increase in electric service rates, representing a 6.18% average increase. The PSC set the company's return on equity at 10.10%, up from the previous 9.77%. If annual returns exceed 10.20%, the company will return 70% of additional earnings to customers. Despite the increase, rates remain among the lowest nationally. The company implemented interim rates on January 1, 2024, with final approved rates expected to be implemented in Q1 2025, approximately 120 days after the PSC order becomes effective.
Otter Tail Power Company (Nasdaq: OTTR) has announced plans to expand its solar generation capacity with two new facilities. The company will develop the 50-megawatt Solway Solar facility in Minnesota, expected to be operational by 2026, and the 295-megawatt Abercrombie Solar facility in North Dakota, targeted for completion in 2028.
The Solway project is estimated to generate $4.2 million in local and state tax benefits over 35 years, creating approximately 70 construction jobs. The Abercrombie project is expected to provide $23.8 million in tax benefits over its 35-year lifespan and create about 300 peak construction jobs.
According to the company's Integrated Resource Plan, 57% of its energy generation will come from renewable resources by 2030. The company has requested Minnesota Public Utilities Commission determination for cost recovery eligibility for both projects.
Otter Tail (OTTR) reported Q3 2024 financial results with diluted earnings per share decreasing 7% to $2.03 compared to Q3 2023. The company increased its 2024 earnings guidance midpoint by $0.15 to $7.07 per share. The Electric segment earnings rose 16%, while Plastics segment earnings declined 8% due to falling PVC pipe prices. The Manufacturing segment saw a 71% earnings decrease due to lower sales volumes. The company maintains strong liquidity of $544 million and declared a quarterly dividend of $0.4675 per share. Return on equity stands at 20% over the trailing twelve months.
Otter Tail (Nasdaq: OTTR) has announced it will release its third quarter 2024 financial results after market close on Monday, November 4, 2024. The company will host a live conference call and webcast on Tuesday, November 5, 2024, at 10:00 a.m. CT to discuss its financial and operating performance.
Accompanying slides will be available on the 's website before the webcast begins. Investors can access the live webcast at www.ottertail.com/events-and-presentations. A recording of the webcast will be available on the company's website shortly after the call. Pre-registration for the conference call is available to obtain dial-in numbers and passcodes.
NW Natural Holding Company (NYSE: NWN) has elected Mary E. Ludford to its board of directors, effective August 19, 2024. Ludford brings extensive energy industry experience, having served in various executive roles at Exelon and its subsidiaries. Her most recent position was deputy chief security officer at Exelon from 2018 until her retirement in 2020. Ludford also currently serves on the board of Otter Tail (NASDAQ: OTTR).
Malia H. Wasson, NW Natural Holdings' board chair, expressed confidence in Ludford's ability to contribute valuable insights to the company's work. Ludford will also join the board of Northwest Natural Gas Company, NW Natural Holdings' wholly owned subsidiary, on the same date.
Otter Tail (Nasdaq: OTTR) reported strong Q2 2024 financial results, with diluted earnings per share increasing 6% to $2.07 compared to Q2 2023. The company has increased its 2024 earnings guidance midpoint by 8% to $6.92 per share, projecting an 18.7% return on equity. Key highlights include:
- Plastics segment earnings up 9% due to higher sales volumes
- Manufacturing segment earnings increased 15%, driven by higher margins at BTD Manufacturing
- Electric segment earnings decreased 6% due to unfavorable weather
- Minnesota Public Utilities Commission approved Otter Tail Power's Integrated Resource Plan
- Quarterly dividend of $0.4675 per share declared, payable September 10, 2024
The company's consolidated cash from operations for H1 2024 was $223.5 million, with total available liquidity of $548.7 million as of June 30, 2024.
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