Otter Tail Corp (NAS:OTTR)
$ 82.49 -3.03 (-3.54%) Market Cap: 3.45 Bil Enterprise Value: 4.31 Bil PE Ratio: 11.39 PB Ratio: 2.11 GF Score: 75/100
Back to the Transcripts List

Q3 2024 Otter Tail Corp Earnings Call Transcript

Nov 05, 2024 / 04:00PM GMT
Release Date Price: $81.55 (+3.85%)

Key Points

Positve
  • Otter Tail Corp (OTTR) exceeded expectations with year-to-date earnings ahead of last year by 4%.
  • Electric segment earnings increased by 16% due to interim rates in North Dakota and a favorable FERC ruling.
  • The company increased and narrowed its 2024 earnings guidance, indicating strong financial performance.
  • Otter Tail Power's five-year capital spending plan is expected to produce a rate-based growth of 7.7%.
  • The Advanced Metering Infrastructure project is progressing well, with 90% of meters upgraded, expected to reduce operating expenses.
Negative
  • Diluted earnings per share decreased by 7% compared to the third quarter of 2023.
  • Plastic segment earnings decreased by 8% due to declining PVC pipe sales prices.
  • Manufacturing segment earnings decreased by 71% due to demand-related headwinds and lower sales volumes.
  • The company faces increased competition from import markets, affecting T.O. Plastics' primary horticulture market.
  • Class action lawsuits against pipe manufacturers, including Otter Tail Corp (OTTR), pose potential legal challenges.
Operator

Good morning and welcome to Otter Tail Corporation's third quarter, 2024 earnings conference call.

(Operator Instructions)

I would now like to turn the call over to the company for their opening comments.

Beth Eiken
Otter Tail Corp - IR Contact Officer

Good morning, everyone and welcome to our third quarter, 2024 earnings conference call. My name is Beth Eiken and I'm Otter Tail Corporation's manager of investor relations. Last night, we announced our third quarter financial results.

Our complete earnings release and slides accompanying this call are available on our website at ottertail.com. Our recording of this call will be available on our website later today with me on the call today are Chuck MacFarlane Otter Tail Corporation's President and CEO and Todd Wahlund, Otter Tail Corporation's Vice President and CFO. Before we begin. I want to remind you that we will be making forward-looking statements during the course of this call.

As noted on slide 2, these statements represent our current views and expectations of

Already have an account? Log in
Get the full story
Start 7-Day Free Trial
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot
Research Tools
All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board
Product
Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App 中文
Education
Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation
Company
About GuruFocus Career Contact Us Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program
Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey
Follow Us
download GuruFocus on Apple store download GuruFocus on Google Play
Disclaimers
GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.
© 2004-2024 GuruFocus.com, LLC. All Rights Reserved.