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.
Otter Tail Corporation (Nasdaq: OTTR) reported 2020 financial results with consolidated operating revenues of $890.1 million, a decrease from $919.5 million in 2019, primarily due to COVID-19 impacts on the Manufacturing segment. However, net income rose 10.4% to $95.9 million, and diluted earnings per share increased 7.8% to $2.34. The board announced a 5.4% dividend increase to $0.39 per share. The company expects EPS in 2021 to be between $2.39 and $2.54. Key projects include a $260 million wind facility and a $152.5 million gas turbine facility.
Otter Tail Corporation (NASDAQ: OTTR) increased its quarterly common stock dividend to $0.39 per share, raising the annual indicated dividend rate to $1.56, an $0.08 increase over 2020. The dividend, reflecting a 5.4% hike, demonstrates the board's confidence in sustainable earnings. This is the 82nd year of consistent dividends, with the payout scheduled for March 10, 2021 to shareholders of record on February 12, 2021. An announcement for the year-end 2020 financial results will occur on February 15, 2021.
Otter Tail Corporation will announce its 2020 earnings results on February 15, 2021, followed by a live conference call and webcast on February 16, 2021, at 10:00 a.m. CT. This session will cover the company’s financial and operating performance. Participants can access the slides prior to the webcast at www.ottertail.com/presentations. Interested parties can dial 877-312-8789 to ask questions or listen only via 866-634-1342. The corporation, which includes an electric utility and manufacturing operations, trades under the symbol OTTR.
Otter Tail Corporation (Nasdaq: OTTR) reported a consolidated net income of $35.9 million and diluted earnings per share (EPS) of $0.87 for Q3 2020, up from $24.7 million and $0.62 per share in Q3 2019.
Revenues increased 3.1% to $235.8 million. The EPS guidance for 2020 was raised to $2.26-$2.36 from $2.10-$2.30. Positive contributions came from the Electric and Plastics segments, particularly from the Merricourt Wind Energy Center.
Otter Tail Power Company has filed a request with the Minnesota Public Utilities Commission to increase rates by approximately $14.5 million, equating to a 6.77% rise. A typical residential customer's bill may increase by $7.75 monthly, while business customers could see a rise of $26. The request aims to support investments in cleaner energy generation, including the Merricourt Wind Energy Center and Astoria Station, which will replace older coal-fired plants. The interim rate increase could begin on January 1, 2021, with the potential for refunds if the final rates are lower.
Otter Tail Corporation plans to release its third quarter 2020 earnings results after market close on November 2, 2020. A live conference call will follow on November 3, 2020, at 10:00 a.m. CT to discuss the financial and operational performance. Accompanying presentation slides will be available on the company’s website prior to the webcast. The company operates in electric utility and manufacturing sectors and trades under the symbol OTTR.