Welcome to our dedicated page for Otter Tail news (Ticker: OTTR), a resource for investors and traders seeking the latest updates and insights on Otter Tail stock.
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.
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.
Otter Tail (Nasdaq: OTTR) has announced it will release its second quarter 2024 financial results after market close on Monday, August 5, 2024. The company will host a live conference call and webcast on Tuesday, August 6, 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 and analysts 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. For any questions about participation, contact Beth Eiken at 701-451-3571 or beiken@ottertail.com.
The Minnesota Public Utilities Commission (MPUC) has approved Otter Tail Power’s Integrated Resource Plan, which includes key agreements made on April 2, 2024, in their 2022-2036 docket. The approval allows Otter Tail Power to maintain the reliability benefits of Coyote Station for Minnesota customers for emergency purposes until 2031. Additionally, Otter Tail Power is to develop plans for 200-300 MW of solar, 150-200 MW of wind, and 20-75 MW of battery storage to be operational by 2029. The plan also includes the addition of liquefied natural gas storage at Astoria Station to ensure system reliability and price protection. These steps support Minnesota's move towards a carbon-free energy standard.
Otter Tail (Nasdaq: OTTR) reported a 19% increase in diluted earnings per share to $1.77 and raised its 2024 earnings guidance by 21% to $6.38 per share. The company's Return on Equity over the past twelve months was 22%. Plastics segment earnings surged by 39%, while Electric segment earnings dipped due to weather-related challenges. Manufacturing segment earnings decreased by 23%. The declared a quarterly dividend of $0.4675 per share. Cash flows improved, with $71.9 million provided by operating activities. Available liquidity stood at $569.1 million. The company plans to increase its 2024 diluted earnings per share guidance to a range of $6.23 to $6.53, predominantly driven by strong Plastics segment performance.
Otter Tail (OTTR) declared a quarterly common stock dividend of $0.4675 per share, payable on June 10, 2024, to shareholders of record May 15, 2024. The will release its first quarter 2024 financial results on May 6, 2024, and hold an earnings call on May 7, 2024.
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