Every 8-K that Otter Tail Corp (OTTR) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow OTTR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full OTTR filings page.
Otter Tail Corporation (OTTR) reported upcoming Board changes driven by its director retirement policy. Thomas J. Webb informed the company on August 28, 2026 that he will not stand for reelection and will retire from the Board at the conclusion of his current term, which ends at the 2027 Annual Meeting of Shareholders.
On August 31, 2026, Kathryn O. Johnson likewise notified Otter Tail that she will not stand for reelection and will retire from the Board at the end of her term at the 2027 Annual Meeting of Shareholders, having reached retirement age under the company’s director retirement policy. Both Webb and Johnson stated that their decisions are not due to any disagreement with Otter Tail’s operations, policies or procedures.
Otter Tail Corporation reported Q2 2026 consolidated operating revenues of $334.4 million and a diluted loss per share of $0.18, driven by a $103.5 million legal settlement expense. Excluding this item, adjusted diluted earnings per share were $1.66. Cash from operating activities for the first six months rose to $182.7 million, and total available liquidity at June 30, 2026 was $601.4 million, including $278.4 million of cash and cash equivalents.
The Electric segment saw revenue decline 5.8% to $121.3 million and net income of $18.7 million, while Manufacturing revenue grew 12.4% to $88.5 million with net income of $4.6 million. The Plastics segment generated $124.6 million of revenue and adjusted net income of $47.1 million, but reported a net loss due to the settlement charge. For 2026, management reduced GAAP diluted EPS guidance to $3.84–$4.24 and introduced adjusted diluted EPS guidance of $5.68–$6.08, and the board declared a quarterly dividend of $0.5775 per share, payable September 10, 2026.
Otter Tail Corporation announced that subsidiaries Northern Pipe Products and Vinyltech Corporation have entered into a settlement agreement to resolve End-User Class claims in ongoing PVC pipe antitrust litigation. The subsidiaries agreed to pay $30 million into a settlement fund, inclusive of class recoveries, attorneys’ fees and administration costs, funded from available cash.
The settlement is subject to preliminary and final Court approval, with payment expected about 21 days after preliminary approval. The company states the agreement does not admit wrongdoing and is not expected to have a material adverse effect on its financial position or liquidity, while reducing uncertainty, distraction and potential costs from prolonged class action litigation.
Otter Tail Power Company, a wholly owned subsidiary of Otter Tail Corporation, has completed the issuance of its 6.04% Series 2026B Senior Unsecured Notes for aggregate proceeds of $70,000,000. These notes bear interest at 6.04% and are due on June 4, 2056.
The Series 2026B Notes are part of a previously agreed private placement totaling $170,000,000, which also includes 5.33% Series 2026A Notes due March 19, 2036. OTP plans to use the new funds to support capital expenditures, refinance existing debt, and for general corporate purposes.
The Note Purchase Agreement includes financial covenants limiting OTP’s Interest-bearing Debt to no more than 65% of Total Capitalization and Priority Indebtedness to no more than 20% of Total Capitalization, each tested at quarter-end. It also provides change of control prepayment rights and structured prepayment terms, including specified dates after which certain prepayments avoid a make-whole amount.
Otter Tail Corporation has entered into settlement agreements to resolve two major classes in ongoing PVC pipe antitrust litigation. Its Northern Pipe Products and Vinyltech subsidiaries agreed to pay $39.5 million into a settlement fund for direct purchasers and $34.0 million for non-converter seller purchasers, subject to court approval.
The payments, expected about 21 days after preliminary approval, will be funded with available cash and include class recoveries, attorneys’ fees and administration costs. Claims by end‑user plaintiffs remain pending, and the company plans to keep defending those. Otter Tail states these settlements are not expected to have a material adverse effect on its financial position or liquidity.
Otter Tail Corporation, through its utility subsidiary Otter Tail Power Company, filed its 2026 Integrated Resource Plan with the Minnesota Public Utilities Commission. The preferred plan outlines how the utility expects to meet customer electricity needs over the next 15 years.
Key elements include a proposed 50-megawatt natural gas plant targeted for service in 2031 or 2032, and two 50-megawatt wind facilities planned for 2035 and 2040. The plan also incorporates previously approved projects such as the 50-megawatt Solway Solar project expected in 2026, the 295-megawatt Abercrombie Solar project expected in 2028, a 75-megawatt battery storage facility, and additional wind generation. Consistent with prior planning, the Minnesota share of the Coyote Station coal plant is slated to become an Available Maximum Emergency resource beginning June 1, 2026, with service to Minnesota customers from that plant ending as soon as feasible and no later than December 31, 2031.
Otter Tail Corporation reported solid first quarter 2026 results, with diluted earnings per share of $1.73, up from $1.62 a year earlier, and net income of $72.6 million. Total operating revenues rose to $347.0 million from $337.4 million, driven by strong Electric and Manufacturing performance.
The Electric segment increased net income to $35.3 million on higher rates and fuel recovery, while Manufacturing nearly tripled net income to $4.3 million. Plastics remained highly profitable with $32.9 million of net income despite lower pricing. Trailing twelve‑month return on equity was 15%.
Management affirmed its 2026 diluted EPS guidance range of $5.22–$5.62 and a targeted long‑term EPS growth rate of 7–9%. The board declared a quarterly dividend of $0.5775 per share, payable June 10, 2026, and the company ended the quarter with total available liquidity of $658.9 million.
Otter Tail Corporation reported results from its Annual Shareholder Meeting held in a virtual format on April 13, 2026. Shareholders representing 34,713,440 of 41,953,525 entitled common shares participated in person or by proxy.
All three director nominees—Jeanne H. Crain, John D. Erickson, and Nathan I. Partain—were re-elected to three-year terms ending at the 2029 Annual Shareholder Meeting. Shareholders also approved, on a non-binding advisory basis, the compensation of the Named Executive Officers and ratified Deloitte & Touche LLP as independent registered public accounting firm.
In addition, shareholders approved an amendment and restatement of the Company’s Bylaws to add an exclusive forum provision, which designates a specific court as the sole forum for certain legal disputes involving the Company.
Otter Tail Corporation announced several executive leadership changes linked to its long-term succession plan. Tim Rogelstad was elected President of Otter Tail Corporation, moving from his prior role leading Otter Tail Power Company and the electric platform, while Chuck MacFarlane remains Chief Executive Officer.
Todd Wahlund stepped down as Chief Financial Officer to become Senior Vice President and President of Otter Tail Power Company, and Tyler Nelson was elected Vice President and Chief Financial Officer of the Corporation.
Compensation packages include base salaries of $540,000 for Rogelstad, $525,000 for Wahlund, and $465,000 for Nelson, with cash incentive targets and long-term equity incentives. In addition, Senior Vice President and General Counsel Jennifer Smestad received $500,000 in restricted stock units that cliff vest on April 8, 2031 as a retention award, with accelerated vesting upon certain Change in Control events.
Otter Tail Power Company, a wholly owned subsidiary of Otter Tail Corporation, entered into a private note purchase agreement for $170,000,000 of senior unsecured notes. The deal includes $100,000,000 of 5.33% Series 2026A Notes due March 19, 2036 and $70,000,000 of 6.04% Series 2026B Notes due June 4, 2056.
The Series 2026A Notes were issued immediately, while the Series 2026B Notes are expected to be issued on June 4, 2026, subject to customary closing conditions. The agreement imposes covenants limiting mergers, asset sales, liens, guarantees, affiliate transactions, and sets financial tests capping interest-bearing debt at 65% of total capitalization and priority indebtedness at 20% of total capitalization.
The notes may be prepaid, generally with a make-whole amount, although specified dates near maturity allow prepayment at par without make-whole. A change of control triggers an offer to prepay at par plus accrued interest. The company plans to use proceeds for capital expenditures, debt refinancing, and general corporate purposes.
Otter Tail Corporation reported 2025 diluted earnings per share of $6.55, with a consolidated return on equity of 16% on an equity ratio of 63%. The Electric segment grew operating revenue 8.1% and net income 7.3%, helped by higher sales volumes, fuel recovery and favorable weather, partly offset by higher depreciation and interest costs.
The Manufacturing segment saw operating revenue decline 8.2% and net income fall 15.8% as softer demand in key end markets weighed on volumes, though cost actions improved margins. Plastics segment operating revenue declined 8.8% and net income decreased 15.1% as PVC pipe prices fell from 2024 peaks, partly offset by higher volumes and lower resin costs.
Operating cash flow was $386.0 million, funding $288.1 million of capital expenditures, mainly in the Electric segment. For 2026, the company guides diluted EPS to $5.22–$5.62, with an expected return on equity of 11.5%–12.3% and a roughly balanced earnings mix between Electric and non‑electric businesses. A five‑year, $2.05 billion capital plan is expected to drive about 10% average annual growth in the Electric segment rate base.
Otter Tail Corporation announced upcoming board changes and new director appointments. Longtime director Steven L. Fritze plans to retire from the Board at the 2026 Annual Meeting of Shareholders after reaching the mandatory retirement age under the company’s director retirement policy.
Effective January 1, 2026, the Board has appointed Christopher B. Clark, a utility industry executive with more than 30 years of experience and former President of Northern States Power Company, and Steve P. Rasche, a finance and utility veteran with 40 years of leadership experience and former CFO of Spire Inc., as directors. Clark will serve on the Audit and Corporate Governance Committees and is expected to stand for election at the 2027 Annual Shareholder Meeting, while Rasche will serve on the Audit and Compensation and Human Capital Management Committees and is expected to stand for election at the 2028 Annual Shareholder Meeting.
Both new directors will receive board compensation consistent with other non-employee directors, including an $80,000 annual cash retainer, $10,500 per standing committee, an annual restricted stock grant valued at approximately $130,000, and an additional restricted stock grant of about $32,500 for their partial first year, with all restricted stock vesting over three years.
Otter Tail Corporation filed a current report to share that it issued a press release announcing its consolidated financial results for the third quarter of 2025. The press release, dated November 3, 2025, is included as Exhibit 99.1 to this report.
The filing clarifies that the earnings press release and related information are furnished, not filed, under securities laws, meaning they are not automatically incorporated into other securities filings unless specifically referenced.