Earnings Releases·Nov 3, 2026, 9:17 AM ET

Otter Tail Corporation — Third Quarter 2026 Earnings Summary

Consolidated operating revenues declined 1.6% to $320.5 million and net income fell 24.0% to $59.5 million in Q3 2026, while nine-month net income dropped 44.4% to $124.5 million due to a $103.5 million legal settlement expense; adjusted nine-month diluted EPS was $4.79.
The company affirmed its 2026 diluted EPS guidance range, narrowing it to $3.89–$4.19, and maintained its long-term earnings growth target of 7–9% and total shareholder return target of 10–12%.
Segment performance varied significantly: Electric revenues fell 2.6% but net income rose 0.4%, Manufacturing revenues surged 16.6% despite a 34.4% net income decline due to inflationary costs, and Plastics revenues and net income dropped 12.9% and 33.4% respectively driven by lower volumes and prices.
Capital expenditures totaled $451.6 million for the nine months, long-term debt increased to $1,091.0 million, and available liquidity stood at $601.8 million as of September 30, 2026.
The Board declared a quarterly dividend of $0.5775 per share, and management remains confident in delivering financial objectives despite inflationary pressures, transmission development challenges, and a softening housing market.