Otter Tail reports Q3 EPS $2.03, consensus $1.98
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 04 2024
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Q3 Financial Performance: Otter Tail Power reported Q3 revenue of $338.0M, below the consensus of $377.2M, with electric segment earnings increasing by 16% while plastics and manufacturing segments faced declines in earnings due to market conditions.
Future Growth Plans: The company is focused on significant rate base growth through investments in clean energy projects and expansion in manufacturing, with plans to enhance wind energy efficiency and increase PVC pipe production capacity despite current market challenges.
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Analyst Views on OTTR
About OTTR
Otter Tail Corporation is a holding company which invests in a portfolio of diversified operations, including an electric utility and manufacturing and plastic pipe businesses. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by the Company. The Manufacturing segment consists of businesses in manufacturing activities, including contract machining, metal parts stamping, fabrication and painting, and production of plastic thermoformed horticultural containers, life science and industrial packaging, and material handling components. These businesses have manufacturing facilities in Georgia, Illinois and Minnesota. The Plastics segment consists of businesses producing PVC pipe at plants in North Dakota and Arizona. The PVC pipe is sold primarily in the western half of the United States and Canada.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Otter Tail Corporation to Announce 2025 Financial Results and Host Conference Call
- Earnings Release Schedule: Otter Tail Corporation will announce its 2025 financial results after market close on February 16, 2026, highlighting its diversified operations in electric utility and manufacturing sectors.
- Conference Call Timing: The company will host a conference call on February 17, 2026, at 10:00 a.m. CT to discuss its financial and operational performance, aiming to bolster investor confidence in its future prospects.
- Webcast Access: Participants can access the live webcast via the company's website, ensuring they download any necessary software prior to the call, reflecting the company's commitment to effective investor communication.
- Investor Information Availability: Otter Tail Corporation offers multiple channels for obtaining the latest investor and corporate information, further enhancing transparency and investor relations.
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Electric Utilities Face High Short Interest, Otter Tail at 11.91%
- High Short Interest: Within the utilities sector, Otter Tail (OTTR) and Hawaiian Electric Industries (HE) have the highest short interest at 11.91% and 11.29%, respectively, indicating a significant bearish sentiment among investors towards these stocks.
- Divergent Analyst Ratings: While Seeking Alpha rates Otter Tail as a Hold, Wall Street analysts are bullish, giving it a Buy rating, highlighting a split in market sentiment regarding the stock's future performance.
- Most Shorted Stocks: Among utilities stocks with a market cap over $2B, Otter Tail and Hawaiian Electric Industries rank as the most shorted, whereas Brookfield Infrastructure Partners (BIP) and NextEra Energy (NEE) are the least shorted at 0.21% and 1.55%, respectively, indicating varying investor confidence across the sector.
- Market Trend Insights: With NextEra Energy gaining for seven consecutive sessions, there is strong market interest in large-cap utility stocks' earnings momentum, potentially signaling future investment opportunities.
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