| Market Capitalization (Millions $) |
3,778 |
| Shares
Outstanding (Millions) |
42 |
| Employees |
2,198 |
| Revenues (TTM) (Millions $) |
1,308 |
| Net Income (TTM) (Millions $) |
449 |
| Cash Flow (TTM) (Millions $) |
64 |
| Capital Exp. (TTM) (Millions $) |
415 |
Business Description
Otter Tail Corporation is a diversified holding company based in Fergus Falls, Minnesota. The corporation was founded in 1907 and has since been operating several subsidiaries across various sectors, including manufacturing, electric and gas utilities, plastics and polymer technology, and transportation. The company also has its headquarters in Fergus Falls, Minnesota.
Electric and Gas Utilities:
Otter Tail Corporation is the parent company of Otter Tail Power Company, which is a regulated electric utility that distributes electricity to over 130,000 customers in Minnesota, North Dakota, and South Dakota. The company also has a gas utility subsidiary named Otter Tail Energy Services.
Manufacturing:
Another subsidiary of the company is BTD Manufacturing, which specializes in metal fabrication and powder coating. BTD Manufacturing offers a wide range of services, including laser cutting, stamping, welding, and assembly.
Plastics and Polymer Technology:
Otter Tail Corporation owns DMI Industries, a subsidiary that specializes in the fabrication of wind turbine towers, as well as Polymer Conversions, which provides injection molding and tooling services to the medical, aerospace, and other different industries.
Transportation:
The company also owns two transportation subsidiaries, including Northern Pipe Products and T.O. Plastics, which offers custom thermoformed plastic packaging solutions for several industries.
In terms of financials, Otter Tail Corporation has reported consistent and steady revenue growth over the years. It recorded a revenue of $920 million in 2019, which was an increase of7% from 2018. The company's net income also grew by 2% to $82.7 million in 2019. Furthermore, the corporation's total assets increased by almost 9% from $1.7 billion in 2018 to $1.85 billion in 2019.
Finally, Otter Tail Corporation has established itself as a socially responsible corporation, implementing strong environmental protection policies that align the corporation's operations with environmental sustainability. For example, Otter Tail Power Company has exceeded its renewable energy goals by adding more wind and solar resources to its generation mix, reducing carbon emissions in the process. Additionally, Otter Tail Corporation has invested in local projects and activities, supporting the communities where it operates.
Company Address: 215 South Cascade Street Fergus Falls 56538 MN
Company Phone Number: 410-8780 Stock Exchange / Ticker: NASDAQ OTTR
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47.8 %