Otter Tail Corp (OQ:OTTR)

Sector:  Utilities Industry:  Electric Utilities
 
See Regulatory Filings on SEC
Company Contact
Address: 215 S Cascade St
FERGUS FALLS MN 56537-2801
Tel: 1-701-4513571
Website: https://www.ottertail.com
IR: See website
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Key People
Charles Scot Macfarlane
President, Chief Executive Officer, Director
Todd R. Wahlund
Chief Financial Officer, Vice President
John S. Abbott
Senior Vice President - Manufacturing Platform
Timothy J. Rogelstad
Senior Vice President - Electric Platform, President - Otter Tail Power
Jennifer Osgood Smestad
Vice President, General Counsel, Corporate Secretary
 
Business Overview
Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the generation, purchase, transmission, distribution and sale of electric energy in western Minnesota, eastern North Dakota and northeastern South Dakota. The Manufacturing segment consists of businesses engaged in manufacturing activities: contract machining; metal parts stamping; fabrication and painting; and production of plastic thermoformed horticultural containers, life science and industrial packaging, material handling components and extruded raw material stock. These businesses have manufacturing facilities in Georgia, Illinois and Minnesota and sell products primarily in the United States. The Plastics segment consists of businesses producing polyvinyl chloride (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.
Financial Overview
For the fiscal year ended 31 December 2023, Otter Tail Corp revenues decreased 8% to $1.35B. Net income increased 4% to $294.2M. Revenues reflect Plastics segment decrease of 18% to $418M, Electric segment decrease of 4% to $528.4M. Net Income benefited from Corporate segment loss decrease of 26% to $12.1M, Manufacturing segment income remaining flat at $29.1M. Dividend per share decreased from $1.65 to $1.31.
Employees: 2,655 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $4,285M as of Dec 31, 2023
Annual revenue (TTM): $1,349M as of Dec 31, 2023
EBITDA (TTM): $475.87M as of Dec 31, 2023
Net annual income (TTM): $294.19M as of Dec 31, 2023
Free cash flow (TTM): $44.30M as of Dec 31, 2023
Net Debt Last Fiscal Year: $675.11M as of Dec 31, 2023
Shares outstanding: 41,776,900 as of Feb 8, 2024
Index Membership: S&P 600 Small Cap
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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