Otter Tail Corp reports results for the quarter ended in June - Earnings Summary

Otter Tail

06/08/2024 24:19

* Otter Tail Corp  OTTR.OQ  reported quarterly adjusted
earnings
of $2.07​​ per share for the quarter ended in June, higher than
the same quarter last year, when the company reported EPS of
$1.95.  The mean expectation of three analysts for the quarter
was for earnings of $1.69 per share. Wall Street expected
results to range from $1.63  to $1.76 per share.
    * Revenue rose 1.4% to $342.34 million from a year ago;
analysts
expected $367.71 million. 
    * Otter Tail Corp's reported EPS for the quarter was $2.07​.
    * The company reported quarterly net income of $87 million.
    * Otter Tail Corp shares had risen by 7.2% this quarter and
gained 10.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 12.5%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 3
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the electric
utilities
peer group is  "sell."

Wall Street's median 12-month price target for Otter Tail Corp
is $75.00 
This summary was machine generated from LSEG data August 5 at
11:18 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      1.69           2.07           Beat
 Mar. 31 2024      1.45           1.77           Beat
 Dec. 31 2023      1.25           1.37           Beat
 Sep. 30 2023      1.62           2.19           Beat