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 (NASDAQ: OTTR) is a holding company with diversified operations that include an electric utility and manufacturing businesses. This news page aggregates company-issued updates, market announcements, and regulatory communications so readers can follow how developments across Otter Tail’s Electric, Manufacturing, and Plastics segments affect OTTR stock.
News coverage for Otter Tail commonly features quarterly and annual earnings releases, where the company reports segment-level results, cash flows, liquidity, and updated earnings guidance. These reports often highlight performance in the Electric segment, trends in metal fabrication demand in the Manufacturing segment, and pricing and volume dynamics in the Plastics segment, including PVC pipe demand and resin cost movements.
Because Otter Tail Power Company is a regulated utility serving customers in states such as Minnesota, South Dakota, and North Dakota, another key category of news involves rate case filings and regulatory decisions. Press releases have detailed requests to increase electric rates, explanations of how proposed changes support infrastructure investments and grid resilience, and descriptions of the regulatory review process with state public utilities commissions.
Investors and analysts also monitor capital investment updates, renewable generation projects, and major capacity expansions in manufacturing and plastics operations, such as new production lines or facility ramp-ups. Corporate governance items, including Board appointments and director retirements, are disclosed through both SEC filings and press releases and appear in the news flow as well.
By reviewing Otter Tail Corporation news in one place, readers can track how management adjusts guidance, responds to weather events and market conditions, and advances long-term plans for rate base growth and diversification. Bookmark this page to follow the latest OTTR earnings releases, regulatory updates, and corporate announcements as they are published.
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Otter Tail Corporation (OTTR) will announce its first quarter 2023 financial results after market close on May 1, 2023. The company will host a live conference call and webcast on May 2, 2023, at 10:00 a.m. CT to discuss its financial and operational performance. Accompanying presentation slides will be available on their website prior to the call. Interested participants can pre-register for the conference call through a provided link. Otter Tail Corporation operates in diversified sectors, including electric utility and manufacturing, and it trades on the NASDAQ Global Select Market under the symbol OTTR.
Otter Tail Power Company has submitted an updated Integrated Resource Plan (IRP) for 2022-2036 to regulatory commissions in Minnesota, North Dakota, and South Dakota. This update reflects significant changes since its initial filing in September 2021, emphasizing an increase in renewable energy resources. Key actions include adding liquified natural gas storage by 2026, developing 200 MW of solar generation by 2028, and initiating plans for 200 MW of wind power by 2029. The company may withdraw from Coyote Station ownership if a large capital investment is necessary. The Minnesota Public Utilities Commission will review the updated plan this fall.
Otter Tail Corporation (OTTR) reported strong financial results for 2022, achieving a 61% increase in net income to $284.2 million, with diluted earnings per share (EPS) up 60% to $6.78. Total operating revenues rose 22% to $1.46 billion. The board approved a quarterly dividend increase of 6.1% to $0.4375 per share. The company expects EPS in 2023 to range from $3.76 to $4.06. The plastics segment saw record profits but anticipates normalization in 2023 due to reduced demand. Electric segment earnings increased 10% due to higher demand and favorable weather conditions.
Otter Tail Corporation (NASDAQ: OTTR) has announced an increase in its quarterly common stock dividend to $0.4375 per share, raising the annual indicated rate to $1.75, marking a $0.10 increase from 2022. The dividend is scheduled for payment on March 10, 2023, to shareholders of record as of February 14, 2023. This 6.1% increase reflects the Board's confidence in the company's ability to deliver sustainable earnings and cash flows. Otter Tail has paid dividends consistently for 84 years and expects future increases aligned with a long-term growth rate of 5-7%, maintaining a payout ratio of 55-65%%.
Otter Tail Corporation will announce its 2022 earnings results on February 13, 2023, and will host a live conference call on February 14, 2023, at 10:00 a.m. CT to discuss its financial and operational performance. The accompanying presentation slides will be available on the company's website prior to the webcast. Interested participants can pre-register for the conference call to obtain the necessary dial-in details. The company operates in diversified sectors, including an electric utility and manufacturing, and trades under the symbol OTTR on NASDAQ.
Otter Tail Corporation announces the retirement of board member James Stake after 14 years, effective April 2023. Jeanne Crain and Mary Ludford have been appointed to the Board, effective January 1, 2023. Crain brings extensive financial expertise and leadership experience from a $16 billion financial services organization, while Ludford has 39 years in the energy sector with a Fortune 100 company. Stake's departure may signal a transition in board dynamics as the company aims to enhance governance and oversight.
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