Otter Tail Corporation (NASDAQ: OTTR) |
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Otter Tail Corporation Outlook |
On November 5 2024 the Otter Tail Corporation provided following guidance
nnOtter Tail Corporation Announces Third Quarter Financial Results and Raises Annual Earnings Outlook for 2024nn
Otter Tail Corporation (Nasdaq: OTTR) has revealed its financial performance for the quarter ending September 30, 2024. In an encouraging update, the company has revised its earnings guidance for the fiscal year 2024, increasing the midpoint estimate by $0.15 to now forecast earnings of $7.07 per share.
nnFinancial Highlights:nn - For the third quarter of 2024, diluted earnings per share recorded a decrease of 7%, totaling $2.03 per share, compared to the same quarter in 2023. - The company achieved a robust return on equity of 20% over the past twelve months, reflecting strong overall performance despite some challenges.
nnCEO Comments:nn Our dedicated team continues to excel as we adapt to evolving market dynamics, stated the President and CEO, highlighting the resilience and commitment of employees amid the shifting landscape. The increase in earnings guidance signals confidence in the company's strategic direction and ability to navigate current economic conditions effectively.
Otter Tail Corporation?s proactive adjustments to its financial outlook underscore its commitment to delivering value to shareholders while maintaining a strong operational foundation.,
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On August 6 2024 the Otter Tail Corporation provided following guidance
nnOtter Tail Corporation Reports Record Earnings for the Second Quarter and Raises 2024 Financial Forecastnn
Fergus Falls, Minn. ? Otter Tail Corporation (Nasdaq: OTTR) has released its financial results for the second quarter of 2024, showcasing remarkable growth and sustained momentum. The company has reported a 6% increase in diluted earnings per share, which rose to $2.07 compared to the corresponding period in 2023.
The corporation is excited to announce an updated outlook for its annual earnings in 2024, increasing the midpoint guidance by 8%, which now stands at $6.92 per share. This updated forecast suggests a projected return on equity of 18.7%.
Additionally, the approval from the Minnesota Public Utilities Commission of the Integrated Resource Plan underscores Otter Tail's commitment to strategic planning and sustainable growth within its electric segment.
nnCEO Insightsnn In addressing stakeholders, the CEO expressed satisfaction with the company?s performance in the second quarter, emphasizing the positive impact of their strategic initiatives and operational efficiencies. With a firm focus on enhancing shareholder value and advancing its long-term vision, Otter Tail Corporation remains optimistic about its future prospects and its ability to deliver solid returns.
As the company prepares for the remainder of the year, it continues to prioritize innovation and execution to maintain its strong market position and drive sustained growth.
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