Otter Tail's Q3: Strong Growth, Solid Cash

Otter Tail Corporations Q3 earnings beat expectations with $1.86 per share, despite an 8% drop from last year due to softer plastics prices. They raised full-year guidance to $6.47 per share and increased their five-year electric utility capital plan to $1.9 billion, targeting a 10% annual growth rate. Rate cases in South Dakota and Minnesota are progressing, with a new filing seeking $44.8 million. Plastics expansion at Vinyltech will add 26 million pounds of capacity, boosting total capacity by 15%. Despite headwinds in ag and lawn markets, manufacturing shows stabilization, and plastics volumes rose 4% despite a 17% price drop. New long-term targets include 7-9% EPS growth and 10-12% total shareholder returns. Otter Tails strong balance sheet, with $325 million cash, positions them well for investors and reliable power. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/7c54eaed033461e1