Otter Tail Corporation Announces Annual Earnings and Initiates 2026 Earnings Guidance

Key Terms

diluted earnings per share financial

Diluted earnings per share is a measure of a company's profit allocated to each share of stock, taking into account all possible shares that could be created through stock options, convertible bonds, or other securities. It shows the lowest possible earnings per share if all these potential shares were issued, helping investors understand the worst-case scenario for their ownership. This figure matters because it provides a more conservative view of a company's profitability per share.

return on equity financial

Return on equity shows how effectively a company uses its shareholders' money to generate profit. It is calculated by dividing the company's net profit by its shareholders' equity, indicating how much profit is earned for each dollar invested by owners. Higher return on equity suggests the company is good at turning investments into earnings, which can be an important factor for investors assessing its profitability and efficiency.

rate base financial

Rate base is the dollar value of the physical assets and capital a regulated utility uses to deliver its service — things like power plants, pipes, or equipment. Regulators use that value as the starting point to set prices the utility can charge by allowing a specific percentage return on that base, so a larger or higher-valued rate base usually means higher permitted revenues and therefore directly affects investor earnings and the company's ability to raise capital.

capital expenditures financial

Capital expenditures are the money a company spends to buy or improve big assets like buildings, equipment, or machines that will last a long time. These investments matter because they help the company grow and operate more efficiently, similar to how upgrading a home’s appliances or adding a new room can make it better and more valuable.

restricted stock units financial

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

ESOP financial

An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.

PVC resin technical

PVC resin is the powdered or granular base material used to make polyvinyl chloride plastic, the building-block ingredient that, when mixed with additives and heated, becomes pipes, window frames, siding, cable insulation and other everyday plastic products. Investors watch PVC resin because its demand and price track construction, housing and industrial activity, and producers’ profits are sensitive to raw material and energy costs, environmental rules and global supply shifts — like flour for a bakery, it’s the core input that drives the whole product economics.

FERGUS FALLS, Minn.--(BUSINESS WIRE)-- Otter Tail Corporation (Nasdaq: OTTR) today announced financial results for the quarter and year ended December 31, 2025.

SUMMARY

• Produced annual diluted earnings per share of $6.55.
• Achieved a consolidated return on equity of 16% on an equity ratio of 63%.
• Initiated 2026 diluted earnings per share guidance range of $5.22 to $5.62, a return on equity projection of 12% at the midpoint.

CEO OVERVIEW

"We are pleased with our 2025 financial results as they exceeded our expectations for the year,” said President and CEO Chuck MacFarlane. “Our results are fueled by our team members’ efforts, and I am proud of the ways they delivered for our customers and shareholders amidst dynamic market conditions.

“Throughout 2025, Otter Tail Power navigated a full agenda and our team members rose to the occasion. We made significant progress on a number of our capital projects, including our wind repowering, solar development and large regional transmission projects, all while executing on our regulatory priorities. We filed rate cases in South Dakota and Minnesota for the first time since 2018 and 2020, respectively. Even with the proposed increases, Otter Tail Power will continue to have some of the lowest electric rates in the region and country.

“Otter Tail Power’s capital spending plan for 2026 through 2030 remains robust. We have identified a pipeline of high-quality projects that provide safe, reliable and increasingly clean electric service for our customers. We are reaffirming our five-year rate base compounded annual growth rate of 10 percent.

“Our Manufacturing segment businesses continued to face soft end market demand following a sharp decline in sales volumes beginning in the third quarter of 2024. Our team members did an excellent job aligning our cost structure with the current demand environment while ensuring we remained well-positioned to respond when conditions improved. This positioning became important towards the end of 2025 as customer order activity picked up, enabling us to end the year with momentum.

“Our Plastics segment businesses continued to provide significant value to our organization even as segment earnings receded from record levels last year, and I am proud of how our team members navigated these changing market conditions. We benefitted from increased sales volumes enabled by the incremental production capacity and large-diameter capability added at Vinyltech in late 2024, partially offsetting the impact of lower PVC pipe sales prices. We expect to complete the second phase of our Vinyltech expansion project in early 2026.

“We are initiating our 2026 diluted earnings per share guidance range of $5.22 to $5.62 and affirming our long-term financial targets. The fundamentals of our business and diversified portfolio remain strong and we are confident in our ability to deliver on our growth plan for the benefit of our customers and shareholders. We continue to target a long-term earnings per share growth rate of 7 to 9 percent, resulting in a total shareholder return of 10 to 12 percent.”

CASH FLOWS AND LIQUIDITY

Our consolidated cash provided by operating activities was $386.0 million in 2025, compared to $452.7 million in 2024. The decrease was primarily driven by higher working capital requirements, including the timing of fuel cost and rider recoveries from our utility customers, and lower earnings.

Investing activities during the year included capital expenditures of $288.1 million. These expenditures were primarily within our Electric segment and included investments in our wind repowering initiatives, solar facilities, and other projects.

Financing activities in 2025 included the issuance of $100.0 million of long-term debt at Otter Tail Power, with the proceeds used to repay short-term borrowings, fund capital investments, and support operating activities. Other financing activities during the year included dividend payments of $88.1 million.

As of December 31, 2025, we had $319.3 million of available liquidity under our credit facilities and $386.2 million of available cash and cash equivalents, for total available liquidity of $705.5 million.

ANNUAL SEGMENT OPERATING RESULTS

Electric Segment

($ in thousands)		2025			2024		$ Change			% Change
Operating Revenues	$	566,756		$	524,515		$	42,241		8.1	%
Net Income		97,586			90,963			6,623		7.3
Retail MWh Sales		5,917,736			5,681,268			236,468		4.2	%
Heating Degree Days		6,117			5,313			804		15.1
Cooling Degree Days		492			440			52		11.8

The following table shows heating and cooling degree days as a percent of normal.

	2025			2024
Heating Degree Days	97.1	%		83.7	%
Cooling Degree Days	102.5	%		93.8	%

The following table summarizes the estimated effect on diluted earnings per share of the difference in retail kilowatt-hour (kwh) sales under actual weather conditions and expected retail kwh sales under normal weather conditions in 2025 and 2024.

	2025 vs Normal				2025 vs 2024			2024 vs Normal
Effect on Diluted Earnings Per Share	$	(0.03	)		$	0.10		$	(0.13	)

Operating Revenues increased $42.2 million largely due to increased fuel recovery revenues, recovery of our rate base investments, increased residential and commercial sales volumes, and the impact of favorable weather compared to last year. The increase in fuel recovery revenue was driven by increased customer demand as well as higher market energy and natural gas prices. These factors were partially offset by a net decrease in rider revenues resulting from higher production tax credits during the year following the completion of certain of our wind repowering projects and the commencement of tax credit generation which decreased income tax expense and offset rider revenue. These credits are passed through to customers, reducing operating revenue.

Net Income increased $6.6 million primarily due to higher retail revenues, as discussed above, and lower operating and maintenance expenses. These items were partially offset by higher depreciation and interest expense related to our rate base investments and the associated financing costs. In addition, a decrease in pension and postretirement related gains further offset the increase in operating revenues and decrease in operating and maintenance expenses.

Manufacturing Segment

(in thousands)		2025			2024		$ Change				% Change
Operating Revenues	$	314,547		$	342,592		$	(28,045	)		(8.2	)%
Net Income		11,517			13,681			(2,164	)		(15.8	)

Operating Revenues decreased $28.0 million primarily driven by a 6% decline in sales volumes, with reductions across several end markets, including agriculture, lawn and garden and recreational vehicles. Sales volumes were negatively affected by soft demand and inventory management efforts by manufacturers and dealers throughout much of the year, continuing a trend that began in the third quarter of 2024. A 1% decrease in steel costs, which are passed through to customers, also contributed to the decrease in operating revenues.

Net Income decreased $2.2 million primarily driven by lower sales volumes, as described above, and higher general and administrative expenses. These impacts were partially offset by higher profit margins from improved production efficiencies and reduced production costs, as we continue to align our cost structure with current demand levels.

Plastics Segment

(in thousands)		2025			2024		$ Change				% Change
Operating Revenues	$	422,755		$	463,441		$	(40,686	)		(8.8	)%
Net Income		170,400			200,747			(30,347	)		(15.1	)

Operating Revenues decreased $40.7 million primarily driven by a 15% decline in average sales prices compared to last year. Prices have been declining for several years after peaking in late 2022. The impact of lower sales prices was partially offset by an 8% increase in sales volumes, largely driven by additional production capacity following the completion of the first phase of our expansion project at Vinyltech in late 2024.

Net Income decreased $30.3 million as a result of decreased sales prices, as described above, partially offset by a 14% decrease in PVC resin and other input material costs and the 8% increase in sales volumes.

Corporate

(in thousands)		2025				2024			$ Change			% Change
Net Loss	$	(3,610	)		$	(3,729	)		$	119		(3.2	)%

FOURTH QUARTER OPERATING RESULTS

Consolidated Results

(in thousands, except per share amounts)		2025			2024		$ Change				% Change
Operating Revenues	$	308,099		$	303,111		$	4,988			1.6	%
Operating Expenses		240,480			236,287			4,193			1.8
Operating Income		67,619			66,824			795			1.2
Other Expense		6,014			3,821			2,193			57.4
Income Before Income Taxes		61,605			63,003			(1,398	)		(2.2	)
Income Tax Expense		9,831			8,153			1,678			20.6
Net Income		51,774			54,850			(3,076	)		(5.6	)
Diluted Earnings Per Share	$	1.23		$	1.30		$	(0.07	)		(5.4	)%

Electric Segment

Electric segment net income was $26.4 million, a $4.9 million increase from the fourth quarter of 2024. The increase was primarily driven by lower operating and maintenance expenses, higher residential and commercial sales volumes, and the impact of favorable weather compared to the same period last year. These benefits were partially offset by higher depreciation and interest expense associated with our rate base investments and related financing costs.

Manufacturing Segment

Manufacturing segment net income was $2.6 million, an increase of $3.2 million from a net loss of $0.6 million in the fourth quarter of 2024. The increase was primarily driven by an 11% increase in sales volumes and improved profit margins compared to the same period in the prior year. For much of the year, sales volumes were impacted by soft end market demand and inventory destocking by manufacturers and dealers. In the fourth quarter, however, sales volumes increased as customers began replenishing inventories. These favorable impacts were partially offset by higher general and administrative expenses compared to the prior year.

Plastics Segment

Plastics segment net income was $30.4 million, an $8.6 million decrease from the fourth quarter of 2024. The decrease was primarily driven by lower sales prices, which continued to decline throughout the year and were 20% lower in the fourth quarter compared to the same period last year. The impact of lower sales prices was partially offset by decreases in PVC resin and other input material costs and by higher sales volumes. The cost of input materials, including PVC resin, decreased 22% largely due to global supply and demand dynamics. Sales volumes increased 4% compared to the same period last year, largely driven by our increased production capacity.

Corporate

Corporate net loss was $7.6 million, an increase of $2.6 million from the net loss of $5.0 million in the fourth quarter of 2024. This increase was primarily the result of higher income tax expense, driven by higher state income taxes compared to last year.

2026 OUTLOOK

We anticipate 2026 diluted earnings per share to be in the range of $5.22 to $5.62. We expect our earnings mix in 2026 to be approximately 49% from our Electric segment and 51% from our Manufacturing and Plastics segments, net of corporate costs. Our anticipated earnings mix in 2026 deviates from our long-term expected earnings mix of 70% Electric and 30% Non-Electric as we expect Plastics segment earnings to remain elevated in 2026 compared to our long-term view of normal earnings for this segment.

The segment components of our 2026 diluted earnings per share guidance compared with actual earnings for 2025 are as follows:

			2025 EPS by Segment				2026 EPS Guidance
							Low				High
Electric			$	2.32			$	2.61			$	2.69
Manufacturing				0.27				0.26				0.32
Plastics				4.05				2.49				2.71
Corporate				(0.09	)			(0.14	)			(0.10	)
Total			$	6.55			$	5.22			$	5.62
Return on Equity				15.6	%			11.5	%			12.3	%

The following items contribute to our 2026 earnings guidance:

Electric Segment - We expect segment earnings to increase 14% in 2026 based on the following:

• Returns generated from an increase in average rate base of 14% in 2026.
• Interim revenues commencing January 1, 2026 from our general rate case filed in Minnesota and anticipated final rates from our South Dakota general rate case.
• Increased operating and maintenance expenses from higher labor costs, planned outage costs at Big Stone Plant, and investments to promote system reliability.
• Increased depreciation and interest expense from our capital investments and associated financing.

Manufacturing Segment - We expect segment earnings to increase 7% in 2026 based on the following assumptions:

• Flat to modest increase in sales volumes in our contract metal fabrication business as conditions in certain end markets remain challenged.
• Increased sales volumes of horticulture products from improved end market conditions.
• Improved productivity partially offset by inflationary cost increases.

Plastics Segment - We expect segment earnings to decline 36% in 2026 based on the following assumptions:

• Continued decline in average product sales prices throughout 2026, as pricing continues to recede from the high point in 2022.
• Increased sales volumes from the new capacity added at our Phoenix facility, partially offset by a subdued housing market.
• Flat raw material costs in 2026 compared to 2025 as global supply and demand factors for PVC resin appear supportive of current pricing.

Corporate Costs - We expect our corporate costs to increase primarily from lower investment income and higher labor costs.

CAPITAL EXPENDITURES

The following provides a summary of actual capital expenditures for the year ended December 31, 2025, and anticipated annual capital expenditures for the next five years, along with average rate base and annual rate base growth of our Electric segment:

(in millions)					2025					2026				2027				2028				2029				2030			Total 2026 - 2030
Electric Segment:
Renewable Generation and Storage				$	91				$	251			$	295			$	89			$	4			$	6			$	645
Transmission					50					80				167				167				186				255				855
Distribution					88					55				49				53				54				57				268
Other					42					50				36				24				23				20				153
Total Electric Segment					271					436				547				333				267				338				1,921
Manufacturing and Plastics Segments					17					31				27				29				23				19				129
Total Capital Expenditures				$	288				$	467			$	574			$	362			$	290			$	357			$	2,050
Total Electric Utility Average Rate Base				$	2,108				$	2,403			$	2,773			$	3,108			$	3,260			$	3,423
Annual Rate Base Growth					11.4	%				14.0	%			15.4	%			12.1	%			4.9	%			5.0	%

Our updated five-year capital expenditure plan includes Electric segment investments in solar and battery storage resources, transmission and distribution assets, and investments in system reliability and technology. Our Electric segment capital expenditure plan produces a compounded annual growth rate on average rate base of 10% over the next five years and will serve as a key driver in increasing Electric segment earnings over this timeframe. Our capital expenditure plan in our Manufacturing and Plastics segments includes a mix of investments to replace and upgrade existing equipment and investments to add additional capacity or productivity to our operations.

CONFERENCE CALL AND WEBCAST

The corporation will host a live webcast on Tuesday, February 17, 2026, at 10:00 a.m. CT to discuss its financial and operating performance.

The presentation will be posted on our website before the webcast. To access the live webcast, go to www.ottertail.com/presentations and select “Webcast.” Please allow time prior to the call to visit the site and download any software needed to listen in. An archived copy of the webcast will be available on our website shortly after the call.

If you are interested in asking a question during the live webcast, visit and follow the link provided in the press release announcing the upcoming conference call.

FORWARD-LOOKING STATEMENTS

Except for historical information contained here, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “can,” “confident,” “could,” “estimate,” “expect,” “future,” “goal,” “intend,” “likely,” “may,” “optimistic,” “opportunity,” “outlook,” “plan,” “possible,” “position,” “potential,” “predict,” “probable,” “projected,” “should,” “target,” “will,” “would” and similar words and expressions are intended to identify forward-looking statements. Such statements are based upon the current beliefs and expectations of management. Forward-looking statements made herein, which may include statements regarding 2026 earnings and earnings per share, long-term earnings, earnings per share growth and earnings mix, anticipated levels of energy generation from renewable resources, anticipated reductions in carbon dioxide emissions, future investments and capital expenditures, rate base levels and rate base growth, future raw materials costs, future raw materials availability and supply constraints, future operating revenues and operating results, and expectations regarding regulatory proceedings, as well as other assumptions and statements, involve known and unknown risks and uncertainties that may cause our actual results in current or future periods to differ materially from the forecasted assumptions and expected results. The Company’s risks and uncertainties include, among other things, uncertainty of future investments and capital expenditures; rate base levels and rate base growth; risks associated with energy markets; the availability and pricing of resource materials; inflationary cost pressures; attracting and maintaining a qualified and stable workforce; changing macroeconomic and industry conditions that impact the demand for our products, pricing and margin; long-term investment risk; seasonal weather patterns and extreme weather events; future business volumes with key customers; reductions in our credit ratings; our ability to access capital markets on favorable terms; assumptions and costs relating to funding our employee benefit plans; our subsidiaries’ ability to make dividend payments; cybersecurity threats or data breaches; the impact of government executive orders, legislation and regulation including foreign trade policy; environmental, health and safety laws and regulations; changes in tax laws and regulations; the impact of climate change including compliance with legislative and regulatory changes to address climate change; expectations regarding regulatory proceedings, assigned service areas, the construction of major facilities, capital structure, and allowed customer rates; actual and threatened claims or litigation; and operational and economic risks associated with our electric generating and manufacturing facilities. These and other risks are more fully described in our filings with the Securities and Exchange Commission, including our most recently filed Annual Report on Form 10-K, as updated in subsequently filed Quarterly Reports on Form 10-Q, as applicable. Forward-looking statements speak only as of the date they are made, and we expressly disclaim any obligation to update any forward-looking information.

Category: Earnings

About the Corporation: Otter Tail Corporation, a member of the S&P SmallCap 600 Index, has interests in diversified operations that include an electric utility and manufacturing businesses. Otter Tail Corporation stock trades on the Nasdaq Global Select Market under the symbol OTTR. The latest investor and corporate information is available at www.ottertail.com. Corporate offices are in Fergus Falls, Minnesota, and Fargo, North Dakota.

OTTER TAIL CORPORATION
CONSOLIDATED STATEMENTS OF INCOME (unaudited)
	Three Months Ended December 31,								Twelve Months Ended December 31,
(in thousands, except per-share amounts)		2025				2024				2025				2024
Operating Revenues
Electric	$	149,708			$	139,818			$	566,756			$	524,515
Product Sales		158,391				163,293				737,302				806,033
Total Operating Revenues		308,099				303,111				1,304,058				1,330,548
Operating Expenses
Electric Production Fuel		18,993				15,936				75,048				60,945
Electric Purchased Power		22,796				19,055				78,658				61,561
Electric Operating and Maintenance Expense		47,479				54,055				184,310				190,422
Cost of Products Sold (excluding depreciation)		91,113				91,560				402,664				434,522
Nonelectric Selling, General, and Administrative Expenses		26,132				24,169				82,566				80,065
Depreciation and Amortization		29,731				27,541				118,107				107,121
Electric Property Taxes		4,236				3,971				17,023				15,662
Total Operating Expenses		240,480				236,287				958,376				950,298
Operating Income		67,619				66,824				345,682				380,250
Other Income and (Expense)
Interest Expense		(12,163	)			(10,591	)			(47,226	)			(41,815	)
Nonservice Components of Postretirement Benefits		894				2,412				3,334				9,609
Other Income (Expense), net		5,255				4,358				20,487				18,848
Income Before Income Taxes		61,605				63,003				322,277				366,892
Income Tax Expense		9,831				8,153				46,384				65,230
Net Income	$	51,774			$	54,850			$	275,893			$	301,662
Weighted-Average Common Shares Outstanding:
Basic		41,877				41,801				41,864				41,778
Diluted		42,149				42,088				42,117				42,072
Earnings Per Share:
Basic	$	1.24			$	1.31			$	6.59			$	7.22
Diluted	$	1.23			$	1.30			$	6.55			$	7.17

OTTER TAIL CORPORATION
CONSOLIDATED BALANCE SHEETS (unaudited)
	December 31,
(in thousands)		2025			2024
Assets
Current Assets
Cash and Cash Equivalents	$	386,193		$	294,651
Receivables, net of allowance for credit losses		145,496			145,964
Inventories		158,598			148,885
Investments		54,311			753
Regulatory Assets		20,437			9,962
Other Current Assets		34,690			29,826
Total Current Assets		799,725			630,041
Noncurrent Assets
Investments		78,823			121,177
Property, Plant and Equipment, net of accumulated depreciation		2,876,685			2,692,460
Regulatory Assets		86,062			98,673
Intangible Assets, net of accumulated amortization		4,642			5,743
Goodwill		37,572			37,572
Other Noncurrent Assets		80,770			66,416
Total Noncurrent Assets		3,164,554			3,022,041
Total Assets	$	3,964,279		$	3,652,082
Liabilities and Shareholders' Equity
Current Liabilities
Short-Term Debt	$	60,242		$	69,615
Current Maturities of Long-Term Debt		79,951			—
Accounts Payable		93,606			113,574
Accrued Salaries and Wages		35,666			34,398
Accrued Taxes		18,460			17,314
Regulatory Liabilities		16,600			29,307
Other Current Liabilities		46,433			45,582
Total Current Liabilities		350,958			309,790
Noncurrent Liabilities and Deferred Credits
Pension Benefit Liability		32,376			32,614
Other Postretirement Benefits Liability		31,813			27,385
Regulatory Liabilities		297,398			288,928
Deferred Income Taxes		305,931			267,745
Deferred Tax Credits		14,321			14,990
Other Noncurrent Liabilities		106,156			98,397
Total Noncurrent Liabilities and Deferred Credits		787,995			730,059
Commitments and Contingencies
Capitalization
Long-Term Debt		963,566			943,734
Shareholders’ Equity
Common Shares		209,528			209,140
Additional Paid-In Capital		434,195			429,089
Retained Earnings		1,217,567			1,029,738
Accumulated Other Comprehensive Income		470			532
Total Shareholders' Equity		1,861,760			1,668,499
Total Capitalization		2,825,326			2,612,233
Total Liabilities and Shareholders' Equity	$	3,964,279		$	3,652,082

OTTER TAIL CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
	Twelve Months Ended December 31,
(in thousands)		2025				2024
Operating Activities
Net Income	$	275,893			$	301,662
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation and Amortization		118,107				107,121
Deferred Tax Credits		(669	)			(182	)
Deferred Income Taxes		33,187				23,057
Investment Gains		(6,701	)			(5,482	)
Stock Compensation Expense		9,119				9,529
Other, net		(4,040	)			(3,111	)
Change in Operating Assets and Liabilities:
Receivables		468				11,179
Inventories		(4,751	)			3,691
Regulatory Assets		(10,779	)			5,194
Other Assets		(3,721	)			(11,640	)
Accounts Payable		(24,120	)			14,826
Accrued and Other Liabilities		7,257				(10,371	)
Regulatory Liabilities		2,190				16,821
Pension and Other Postretirement Benefits		(5,455	)			(9,563	)
Net Cash Provided by Operating Activities		385,985				452,731
Investing Activities
Capital Expenditures		(288,068	)			(358,650	)
Proceeds from Disposal of Noncurrent Assets		6,925				8,849
Purchases of Investments and Other Assets		(9,581	)			(61,573	)
Net Cash Used in Investing Activities		(290,724	)			(411,374	)
Financing Activities
Net Repayments of Short-Term Debt		(9,373	)			(11,807	)
Proceeds from Issuance of Long-Term Debt		100,000				120,000
Dividends Paid		(88,064	)			(78,266	)
Payments for Shares Withheld for Employee Tax Obligations		(3,134	)			(6,457	)
Other, net		(3,148	)			(549	)
Net Cash Provided by (Used in) Financing Activities		(3,719	)			22,921
Net Change in Cash and Cash Equivalents		91,542				64,278
Cash and Cash Equivalents at Beginning of Period		294,651				230,373
Cash and Cash Equivalents at End of Period	$	386,193			$	294,651

OTTER TAIL CORPORATION
SEGMENT RESULTS (unaudited)
	Three Months Ended December 31,								Twelve Months Ended December 31,
(in thousands)		2025				2024				2025				2024
Operating Revenues
Electric	$	149,708			$	139,818			$	566,756			$	524,515
Manufacturing		77,183				66,632				314,547				342,592
Plastics		81,208				96,661				422,755				463,441
Total Operating Revenues	$	308,099			$	303,111			$	1,304,058			$	1,330,548
Operating Income (Loss)
Electric	$	33,122			$	25,680			$	121,549			$	113,789
Manufacturing		3,717				(606	)			16,900				19,092
Plastics		41,212				52,769				231,079				271,905
Corporate		(10,432	)			(11,019	)			(23,846	)			(24,536	)
Total Net Income	$	67,619			$	66,824			$	345,682			$	380,250
Net Income (Loss)
Electric	$	26,376			$	21,478			$	97,586			$	90,963
Manufacturing		2,587				(590	)			11,517				13,681
Plastics		30,362				38,919				170,400				200,747
Corporate		(7,551	)			(4,957	)			(3,610	)			(3,729	)
Total Net Income	$	51,774			$	54,850			$	275,893			$	301,662

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260216441136/en/

Investor Contacts: Beth Eiken, Manager of Investor Relations, (701) 451-3571

Media Contact: Stephanie Hoff, Director of Corporate Communications, (218) 739-8535

Source: Otter Tail Corporation