NASDAQ$OTTR
Otter Tail Corporation · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Otter Tail's Q3 2024 earnings were announced, with increased consolidated 2024 annual earnings guidance.
Otter Tail Corporation reported a decrease in diluted earnings per share by 7% to $2.03 compared to Q3 2023, but increased its 2024 earnings guidance by $0.15 to $7.07 per share. The electric segment saw a 16% increase in earnings, while the plastics segment decreased by 8% and the manufacturing segment decreased by 71%.
- 2024 earnings guidance increased $0.15 to $7.07 per share.
- Diluted earnings per share decreased 7% to $2.03 compared to Q3 2023.
- Electric segment earnings increased 16% due to interim rates in North Dakota and a FERC ruling.
- Plastics segment earnings decreased 8% due to declining PVC pipe sales prices, while manufacturing segment earnings decreased 71% due to lower sales volumes.
Headline financials
Revenue & EPS history
Otter Tail · Revenue · Quarterly
$337M
Revenue by segment
Otter Tail · $358M total across 3 segments · Q3 2023
- Electric$130M-8.7%36.4%
- Plastics$127M-10.7%35.5%
- Manufacturing$101M+1.9%28.1%
Forward guidance
Otter Tail Corporation is increasing its 2024 diluted earnings per share range to $6.97 to $7.17. The earnings mix is expected to be approximately 30% from the Electric segment and 70% from the Manufacturing and Plastics segments, net of corporate costs.
Tailwinds
- Maintaining Electric segment earnings guidance, expecting a 7% increase over 2023.
- Increasing Plastics segment earnings guidance based on better than expected financial results in Q3 2024.
- A slower decline in product sales prices than previously expected in the Plastics segment.
- Increased sales volumes in the fourth quarter of 2024 in the Plastics segment.
- Maintaining corporate cost guidance.
Headwinds
- Decreasing Manufacturing segment earnings guidance due to anticipated lower sales volumes in the fourth quarter.
- Softer demand across most end markets affecting the Manufacturing segment.
- Manufacturers tightly managing inventories through year-end impacting the Manufacturing segment.
- Product pricing pressures within the metal fabrication business.
- Lower scrap revenues within the metal fabrication business.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
+0.8%
Avg return
Earnings day
+1.9%
Avg return
5 days after
+0.7%
Avg return
30 days after
56%
38 / 68 earnings
Positive
+11.5%
Q2 2022
Best reaction
-10.6%
Q3 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.0% | -0.6% | -2.3% | |
| Q4 2025 | -1.7% | -3.6% | -0.7% | |
| Q3 2025 | +5.4% | +8.4% | +6.0% | |
| Q1 2025 | +1.1% | +3.7% | +2.2% | |
| Q4 2024 | +6.1% | +5.8% | +7.0% | |
| Q3 2024 | +4.4% | +1.2% | +2.4% | |
| Q2 2024 | -3.9% | -3.5% | -14.1% | |
| Q1 2024 | +2.8% | +5.8% | +2.6% | |
| Q4 2023 | -9.1% | -8.1% | -16.5% | |
| Q3 2023 | +9.3% | +17.8% | +5.9% | |
| Q2 2023 | +9.8% | +10.9% | +3.6% | |
| Q1 2023 | +7.2% | +9.1% | +3.1% | |
| Q4 2022 | -4.4% | +11.3% | +7.9% | |
| Q3 2022 | -9.3% | -18.9% | -13.2% | |
| Q2 2022 | +11.5% | +7.8% | +7.5% | |
| Q1 2022 | +5.1% | +7.5% | +14.6% | |
| Q4 2021 | -0.0% | +0.1% | +3.3% | |
| Q3 2021 | +1.6% | +6.1% | +5.5% | |
| Q2 2021 | +5.1% | +5.3% | +9.2% | |
| Q1 2021 | +1.9% | +3.6% | +2.3% | |
| Q4 2020 | -2.3% | -0.8% | +7.3% | |
| Q3 2020 | +10.8% | +3.8% | +6.5% | |
| Q2 2020 | +1.4% | +8.7% | +1.4% | |
| Q1 2020 | -5.0% | +0.0% | -3.7% | |
| Q4 2019 | -0.6% | +1.2% | -26.4% | |
| Q3 2019 | -10.6% | -13.8% | -14.0% | |
| Q2 2019 | -2.6% | -0.8% | -2.8% | |
| Q1 2019 | -3.2% | -3.3% | -1.6% | |
| Q4 2018 | +0.5% | -0.6% | -2.4% | |
| Q3 2018 | +5.6% | +7.7% | +6.6% | |
| Q2 2018 | +0.4% | +0.3% | -0.1% | |
| Q1 2018 | -1.0% | -0.2% | +1.9% | |
| Q4 2017 | +0.8% | +1.8% | +2.9% | |
| Q3 2017 | +1.6% | -0.1% | +4.2% | |
| Q2 2017 | +3.7% | +1.9% | +4.0% | |
| Q1 2017 | +0.0% | -2.9% | +1.1% | |
| Q4 2016 | -1.9% | -0.6% | -6.0% | |
| Q3 2016 | -1.7% | +0.7% | +9.2% | |
| Q2 2016 | +0.7% | +0.5% | +3.2% | |
| Q1 2016 | +4.2% | — | — | |
| Q4 2015 | -1.8% | — | — | |
| Q3 2015 | -3.7% | — | — | |
| Q2 2015 | +8.0% | — | — | |
| Q1 2015 | -5.0% | — | — | |
| Q4 2014 | +0.9% | — | — | |
| Q3 2014 | -0.6% | — | — | |
| Q2 2014 | -2.1% | — | — | |
| Q1 2014 | -0.6% | — | — | |
| Q4 2013 | +10.1% | — | — | |
| Q3 2013 | +2.9% | — | — | |
| Q2 2013 | -6.3% | — | — | |
| Q1 2013 | -0.3% | — | — | |
| Q4 2012 | +0.7% | — | — | |
| Q3 2012 | +3.6% | — | — | |
| Q2 2012 | +0.2% | — | — | |
| Q1 2012 | +2.8% | — | — | |
| Q4 2011 | -1.8% | — | — | |
| Q3 2011 | -1.1% | — | — | |
| Q2 2011 | +6.7% | — | — | |
| Q1 2010 | -2.3% | — | — | |
| Q1 2011 | +0.5% | — | — | |
| Q4 2010 | -1.3% | — | — | |
| Q4 2008 | -1.3% | — | — | |
| Q3 2010 | +0.6% | — | — | |
| Q3 2009 | +0.6% | — | — | |
| Q2 2010 | +1.4% | — | — | |
| Q2 2009 | +1.4% | — | — | |
| Q4 2009 | +1.4% | — | — |
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