Trade Otter Tail Corp - OTTR CFD

Otter Tail Company profile

About Otter Tail Corporation

Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the generation, purchase, transmission, distribution and sale of electric energy in western Minnesota, eastern North Dakota and northeastern South Dakota. The Manufacturing segment consists of businesses in manufacturing activities, such as contract machining; metal parts stamping, fabrication and painting; and production of plastic thermoformed horticultural containers, life science and industrial packaging, material handling components, and extruded raw material stock. These businesses have manufacturing facilities in Georgia, Illinois and Minnesota and sell products primarily in the United States. The Plastics segment consists of businesses producing polyvinyl chloride (PVC) pipe at plants in North Dakota and Arizona. Its PVC pipes are sold primarily in the western half of the United States and Canada.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Otter Tail Corporation revenues increased 34% to $1.2B. Net income increased 84% to $176.8M. Revenues reflect Plastics segment increase of 85% to $380.2M, Manufacturing segment increase of 41% to $336.3M, Electric segment increase of 8% to $480.3M. Net income benefited from Plastics segment income increase from $37.8M to $132.8M, Manufacturing segment income increase of 50% to $24.1M.

Equity composition

Common Stock $5 Par, 02/15, 50M auth., 36,002,739 issd. Insiders own 1.65%. PO 5/81, 500K shs. @ $17 by Blyth Eastman Paine Webber. 3/00, 7/88, 2-for-1 stock splits. 4/01, Name changed from Otter Tail Power Co. FY'01 Q's are restated for T.O. Plastic & St. George Steel Fabrication, Inc. acquisition. PO: 9/08, 4.5M shares.