Otter Tail Reports Q3 Earnings, Affirms Guidance

Otter Tail reported third-quarter adjusted earnings of $1.41 per share and revenue of $320.51 million, missing analysts’ estimates for both and falling from a year earlier. The company affirmed the midpoint of its annual earnings guidance while narrowing the guidance range. Management said its electric utility operations continued to advance rate-base growth, renewable-energy and transmission projects, while manufacturing sales volumes improved; the Plastics segment was hurt by lower PVC pipe volumes and prices, partly reflecting earlier customer purchases and a softer housing market.