Otter Tail Corporation Announces First Quarter Earnings and Affirms 2026 EPS Guidance

About this update from Otter Tail Corporation

FERGUS FALLS, Minn., May 04, 2026--(BUSINESS WIRE)--Otter Tail Corporation (Nasdaq: OTTR) today announced financial results for the quarter ended March 31, 2026. SUMMARY CEO OVERVIEW "We are pleased with our first quarter financial results and are well positioned to achieve our financial objectives for the year," said CEO Chuck MacFarlane. "Across our businesses, our team members executed on our near-term priorities for the benefit of our customers and shareholders. "Otter Tail Power delivered on our regulatory priorities while making significant progress on our customer-focused rate base growth plan. We obtained approval of our fully settled South Dakota rate case in the first quarter and implemented our new base rates at the beginning of April. We also implemented interim rates at the start of the year for our ongoing Minnesota rate case. "We completed our wind repowering project earlier this year on budget despite weather-related headwinds delaying the in-service timing. We continue to make progress on our solar, battery storage and large regional transmission projects. Our team members secured the solar panels needed for our two solar development projects during the first quarter, eliminating tariff-related risk and avoiding the potential cost increase for the benefit of our customers. "We are pleased with the results produced by our Manufacturing segment businesses as our team members’ cost-management efforts over the past year positively contributed to our quarterly results. We are also encouraged by increasing sales volumes in several of our end markets. "Our Plastics segment businesses benefitted from better-than-expected demand for our products while average sales prices continued to recede in line with our expectations. We completed the second phase of our Vinyltech expansion project earlier this year and look forward to leveraging the additional production capacity. With the conclusion of the second phase, this completes a multi-year expansion project that added 15 percent of additional production capacity, and increased manufacturing space and raw material storage capabilities. This investment will allow us to better serve our customers, pursue growth opportunities and enhance our employee experience. "We are maintaining our 2026 diluted earnings per share guidance range of $5.22 to $5.62. The fundamenta...

View stock analysis, news, and events for Otter Tail Corporation