Quarterly ResultMay 6, 2026, 01:26 PM
Otter Tail Q1 Net Income $72.6M, EPS $1.73; Revenue $347M
AI Summary
Otter Tail Corp reported a net income of $72.61 million for the first quarter of 2026, an increase from $68.10 million in the prior year, with diluted earnings per share rising to $1.73. Total operating revenues grew to $347.03 million. The Electric segment saw a significant increase in net income, while the Plastics segment experienced a notable decrease. The company also issued $100 million in new long-term debt and saw substantial capital expenditures, particularly in the Electric segment.
Key Highlights
- Net Income: $72.61 million for Q1 2026, up from $68.10 million in Q1 2025.
- Diluted EPS: $1.73 for Q1 2026, up from $1.62 in Q1 2025.
- Total Operating Revenues: $347.03 million for Q1 2026, up from $337.35 million in Q1 2025.
- Electric Segment Net Income: $35.25 million for Q1 2026, up from $24.71 million in Q1 2025.
- Plastics Segment Net Income: $32.94 million for Q1 2026, down from $43.44 million in Q1 2025.
- Total Capital Expenditures: $185.28 million for Q1 2026, compared to $58.01 million in Q1 2025.
- Long-Term Debt: Issued $100 million of 5.33% Series 2026A Senior Unsecured Notes.
- South Dakota Rate Case: Approved a net annual revenue increase of $3.3 million (7.7%).