Business Wire·Aug 3, 2026, 6:00 PM ET

Otter Tail Corporation Announces Second Quarter Results and Updates Annual Earnings Guidance

OTTR

Otter Tail Corporation reported a diluted loss per share of $0.18 & an adjusted diluted earnings per share of $1.66 for the quarter ended June 30, 2026.
The company updated its 2026 diluted earnings per share guidance to a range of $3.84 to $4.24 & initiated an adjusted diluted earnings per share guidance range of $5.68 to $6.08.
A $103.5 million pre-tax settlement expense was recognized to resolve U.S. antitrust class action litigation regarding PVC pipe, which drove the reduction in reported EPS guidance.
The Electric segment reported operating revenues of $121.3 million & net income of $18.7 million, with revenues declining due to increased production tax credits passed to customers & lower fuel recovery revenues.
The Manufacturing segment achieved operating revenues of $88.5 million & net income of $4.6 million, driven by a favorable product mix & increased sales volumes in recreational vehicle, construction, & horticulture markets.
The Plastics segment reported operating revenues of $124.6 million & a net loss of $30.1 million, primarily due to the legal settlement expense, though adjusted net income was $47.1 million.
Consolidated operating cash flow for the six months ended June 30, 2026, was $182.7 million, while capital expenditures totaled $324.8 million, largely focused on solar & wind projects within the Electric segment.
Otter Tail Power issued $170.0 million of long-term debt to repay short-term borrowings, fund capital investments, & support operating activities.
Total available liquidity as of June 30, 2026, was $601.4 million, comprising $278.4 million in cash & cash equivalents & $323.0 million in available credit facilities.
The Board of Directors declared a quarterly common stock dividend of $0.5775 per share, payable on September 10, 2026, to shareholders of record on August 14, 2026.