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Otter Tail Corporation - OTTR STOCK NEWS

Welcome to our dedicated news page for Otter Tail Corporation (Ticker: OTTR), a resource for investors and traders seeking the latest updates and insights on Otter Tail Corporation.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Otter Tail Corporation's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Otter Tail Corporation's position in the market.

Rhea-AI Summary
Otter Tail Corporation (OTTR) reported financial results for Q4 2023 and the full year, with operating revenues at $1.3 billion, net income at $294.2 million, and diluted earnings per share at $7.00. The corporation achieved a consolidated return on equity of 22.1%. The board raised the quarterly dividend by 7% to $0.4675 per share. CEO Chuck MacFarlane highlighted record earnings in 2023, driven by the Electric segment's 6% growth and strategic investments. Cash flows improved with $404.5 million from operations. The 2024 outlook forecasts diluted EPS of $5.13 to $5.43, reflecting growth in Electric segment earnings and declining Plastics segment earnings.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-9.78%
Tags
dividends earnings
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Rhea-AI Summary
Otter Tail Corporation (OTTR) has announced an increase in its quarterly common stock dividend to $0.4675 per share, bringing the annual indicated dividend rate to $1.87 per share. This marks a 6.9 percent increase over the 2023 rate and is in line with the company's long term earnings growth rate of 5 to 7 percent. The corporation will also issue a news release announcing 2023 financial results after the stock market closes on Monday, February 12, 2024 and has scheduled an earnings call for Tuesday, February 13, 2024 at 10:00 a.m. CT.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.09%
Tags
dividends
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Rhea-AI Summary
Otter Tail Corporation (OTTR) will release its 2023 financial results on February 12, 2024, followed by a live conference call and webcast on February 13, 2024 to discuss its financial and operating performance. The corporation's website will host accompanying slides for the webcast. Pre-registration for the conference call is available on the corporation's website, with contact information for further assistance.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.3%
Tags
earnings
Rhea-AI Summary
Otter Tail Corporation (Nasdaq: OTTR) announced financial results for Q3 2023. Consolidated operating revenues decreased 7% to $358 million. Consolidated net income increased 9% to $92 million. Diluted earnings per share increased 9% to $2.19. CEO Chuck MacFarlane highlighted record-setting quarterly earnings. The Electric segment earnings were flat, while the Manufacturing segment saw a 20% growth and the Plastics segment had a 6% increase. The Hoot Lake Solar facility became fully operational in August 2023. Otter Tail Power Company plans to file a request for an 8.4% increase in general rates in North Dakota. The company increased its 2023 diluted earnings per share guidance to $6.76-$6.96.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
10.29%
Tags
management dividends earnings
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Rhea-AI Summary
Otter Tail Corporation to announce Q3 2023 financial results
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.41%
Tags
earnings
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Rhea-AI Summary
Otter Tail Corporation announces retirement of CFO Kevin Moug after 27 years of service. Todd Wahlund to assume role effective January 1, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.98%
Tags
none
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
9.59%
Tags
management dividends earnings
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Rhea-AI Summary
Otter Tail Corporation (Nasdaq: OTTR) will release its second quarter 2023 financial results on July 31, 2023, and will host a conference call and webcast on August 1, 2023, to discuss its financial and operating performance. The webcast will be accessible on the corporation's website and a copy will be available afterwards. Pre-registration is required for the conference call.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.61%
Tags
earnings
-
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.37%
Tags
management dividends earnings
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.91%
Tags
earnings
Otter Tail Corporation

Nasdaq:OTTR

OTTR Rankings

OTTR Stock Data

3.71B
37.26M
2.1%
69.78%
9.26%
Nuclear Electric Power Generation
Utilities
Link
US
Fergus Falls

About OTTR

with offices in fergus falls, minnesota, and fargo, north dakota, otter tail corporation is a growing company with over $1.2 billion in revenues and more than 4,000 employees across many industries. our diversified operations include an electric utility, manufacturing, health services, food ingredient processing, plastics, construction and transportation. the otter tail companies collectively serve customers within the united states and in canada.