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Otter Tail Corporation (symbol: OTTR) is a multifaceted American enterprise with headquarters in Fergus Falls, Minnesota, and Fargo, North Dakota. With over $1.2 billion in revenue and a workforce exceeding 4,000 employees, Otter Tail Corp is a significant player across various industries, including electric utilities, manufacturing, health services, food ingredient processing, plastics, construction, and transportation.
Primarily known for its Electric segment, Otter Tail Corp produces and sells electricity to customers in Minnesota, South Dakota, and North Dakota. This segment drives the bulk of the company's revenue, serving a mix of commercial, residential, and industrial customers. The company's commitment to sustainable energy solutions and infrastructure development ensures a reliable power supply while fostering growth in the region.
In the Manufacturing segment, Otter Tail Corp fabricates metal components, supplying vital parts to various industries. This segment showcases the company's versatility and ability to adapt to market demands, underlining its importance in the regional economy.
The Plastics segment of Otter Tail Corp specializes in producing pipes primarily for water use. This segment highlights the company's role in providing essential infrastructure components, contributing to both the public utility and private sectors.
Otter Tail Corp's diversified operations extend to health services, food ingredient processing, construction, and transportation, collectively serving customers across the United States and Canada. By leveraging strategic partnerships and fostering innovation, the company continues to expand its footprint and deliver value to its stakeholders.
Stay updated with the latest news and developments by following Otter Tail Corporation's ongoing projects and financial performance. The company's strategic initiatives and growth trajectory make it a significant entity in the stock market, offering investors and customers alike a comprehensive perspective on its operations.
Otter Tail Corporation will announce its first quarter 2022 earnings results on May 2, 2022. A conference call and webcast will follow on May 3, 2022, at 10:00 a.m. CT to discuss its financial and operating performance. Investors can access the slides and live webcast on the company’s website. Questions can be asked during the call by dialing 877-312-8789, with a separate number for listening only. The company's operations include an electric utility and manufacturing businesses, trading under the symbol OTTR.
Otter Tail Corporation (OTTR) reported strong financial results for the fourth quarter and full year of 2021. Operating revenues surged by 34.5% to $1.2 billion, while net income climbed 84.4% to $176.8 million, yielding a diluted earnings per share (EPS) of $4.23, an 80.8% increase year-over-year. The company declared a dividend increase to $0.4125 per share, reflecting a 5.8% hike from 2021. Looking ahead, Otter Tail projects 2022 EPS between $3.78 and $4.08, driven by growth in its Electric and Manufacturing segments.
Otter Tail Corporation (NASDAQ: OTTR) has raised its quarterly common stock dividend to $0.4125 per share, resulting in an annual indicated rate of $1.65, reflecting a $0.09 increase over 2021. The dividend is payable on March 10, 2022, to shareholders on record as of February 15, 2022. This marks the 83rd year of continuous dividends, showcasing the board's confidence in sustainable earnings and cash flows. Future dividends are expected to align with earnings growth, maintaining a payout ratio of 60-70%.
Otter Tail Corporation will release its 2021 earnings results on February 14, 2022, followed by a conference call on February 15, 2022, at 9:00 a.m. CT. This call will cover the company's financial and operational performance. Interested parties can listen via the webcast, with accompanying slides available on the company's website beforehand. For questions, participants can dial in during the conference call. Otter Tail operates in diversified sectors, including electric utilities and manufacturing, under the NASDAQ symbol OTTR.
Otter Tail Corporation announces the retirement of Board Member Timothy O’Keefe at the upcoming April Annual Meeting. O’Keefe has served for eight years, contributing valuable insights in marketing and public policy. He is succeeded by Dr. Michael LeBeau, effective January 1, 2022. Dr. LeBeau brings extensive experience in health and public policy as the Chief Administrative Officer at Sanford Health. His leadership is expected to enhance the board’s perspective and insights, particularly in relation to North Dakota.
Otter Tail Corporation (OTTR) announced a quarterly dividend of $0.39 per share and reported strong financial results for Q3 2021, with revenue rising 34.2% to $316.3 million and net income increasing 46.8% to $52.8 million. Diluted EPS surged by 44.8% to $1.26. The company raised its 2021 EPS guidance to a range of $4.05 to $4.20, reflecting significant growth from $2.34 in 2020, largely driven by the strong performance of the Plastics segment amidst PVC supply constraints. However, electric segment earnings declined due to higher maintenance costs.
Otter Tail Corporation (OTTR) will release its Q3 2021 earnings results after market close on November 1, 2021. A live conference call will be held the following day, November 2, 2021, at 10:00 a.m. CDT to discuss the company's financial and operational performance. Accompanying presentation materials will be available on the company's website before the webcast. Participants can access the call by dialing 877-312-8789 for questions or 866-634-1342 for listen-only access.
Otter Tail Power Company has submitted its Integrated Resource Plan (IRP) to regulatory commissions in Minnesota, North Dakota, and South Dakota. The two-year analysis aims to ensure reliable and affordable electricity for customers over the next 15 years. Key proposals include adding dual fuel capability at Astoria Station, increasing solar capacity by 150 megawatts, and beginning the withdrawal from its 35% stake in Coyote Station by 2028. The company targets a 50% reduction in carbon emissions by 2025 and aims for 35% of energy from renewable sources by 2023.
Otter Tail Corporation (Nasdaq: OTTR) reported a 48.2% increase in consolidated operating revenues for Q2 2021 to $285.6 million, with net income rising 147.7% to $42.1 million. Diluted earnings per share soared 140.5% to $1.01. The company has raised its earnings guidance for 2021 to $3.50 to $3.65, reflecting anticipated robust performance in the Plastics segment, driven by PVC resin supply constraints. The Electric segment also reported strong second-quarter earnings, benefiting from new projects and improved market conditions.
Otter Tail Corporation will release its second quarter 2021 earnings results on August 2, 2021, after market close. A live conference call and webcast is scheduled for August 3, 2021, at 10:00 a.m. CDT to discuss the company’s financial and operational performance. The conference call can be accessed by dialing 877-312-8789 for questions or 866-634-1342 for listening only. Accompanying slides will be available on their website prior to the webcast. Otter Tail Corporation operates in electric utility and manufacturing sectors and trades under the symbol OTTR.
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