Otter Tail
Runs an Upper Midwest electric utility alongside metal fabrication and PVC pipe businesses.
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Profile
Runs a regulated electric utility across Minnesota, North Dakota and South Dakota alongside metal fabrication, thermoformed plastics and PVC pipe businesses. Utility rates are regulator-approved, while the manufacturing operations sell to equipment makers and infrastructure distributors and help fund electric-system investment.
Operates through three segments. Electric houses Otter Tail Power Company, a vertically integrated regulated utility serving western Minnesota, eastern North Dakota and northeastern South Dakota. Manufacturing combines BTD Manufacturing's custom metal parts for equipment makers with T.O. Plastics' thermoformed horticultural containers and custom medical and industrial packaging.
Plastics comprises Northern Pipe Products and Vinyltech, which extrude PVC pipe for municipal water, wastewater and reclamation infrastructure across the western United States and western Canada. BTD integrates design, tooling, fabrication, finishing and inventory management, while the pipe businesses emphasize product availability and responsive distribution.
Cash from the nonutility businesses helps fund electric-system investment. Utility results depend on state rate decisions and federal transmission rules; manufacturing follows OEM demand; pipe margins and output depend on PVC pricing, resin availability and a concentrated distributor base.
Company facts
Key statistics
Year to date +11.6% · Average volume (30d) 214.2K
Analysts
Ratings
Target range
Latest analyst notes
No analyst notes in the last 24 months.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | $1.51 | $1.66 | +9.9% | $326.1M | $334.4M | +2.5% | +2.95% |
| May 4, 2026Q1 FY26 | $1.42 | $1.73 | +21.8% | $339.1M | $347.0M | +2.3% | −2.04% |
| Feb 16, 2026Q4 FY25 | $1.16 | $1.23 | +6.0% | $311.1M | $308.1M | −1.0% | −1.68% |
| Nov 3, 2025Q3 FY25 | $1.80 | $1.86 | +3.3% | $311.2M | $325.6M | +4.6% | +5.18% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $337.4M | $333.0M | $325.6M | $308.1M | $347.0M | $334.4M | |
| Gross profit | $138.9M | $148.5M | $148.3M | $71.9M | $89.7M | $216.0M | |
| Operating income | $84.0M | $97.5M | $96.6M | $67.6M | $85.2M | −$24.2M | |
| Net income | $68.1M | $77.7M | $78.3M | $51.8M | $72.6M | −$7.6M | |
| Diluted EPS | $1.62 | $1.85 | $1.86 | $1.23 | $1.73 | −$0.19 | |
| Gross margin | 41.2% | 44.6% | 45.5% | 23.3% | 25.8% | 64.6% | |
| Operating margin | 24.9% | 29.3% | 29.7% | 21.9% | 24.6% | -7.2% |
Fiscal years (4-quarter sums)FY21 $1.20B · FY22 $1.46B · FY23 $1.35B · FY24 $1.33B · FY25 $1.30B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $407.2M · Total debt $1.27B · Total assets $4.29B · Shareholders' equity $1.88B
Dividends
Raised for 38 straight years — most recently to $0.5775 from $0.525 in Feb 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Sep 10 | $0.5775 | |
| May 15, 2026 | May 15 | Jun 10 | $0.5775 | |
| Feb 13, 2026 | Feb 13 | Mar 10 | $0.5775 | raised from $0.525 |
| Nov 14, 2025 | Nov 14 | Dec 10 | $0.525 | |
| Aug 15, 2025 | Aug 15 | Sep 10 | $0.525 | |
| May 15, 2025 | May 15 | Jun 10 | $0.525 | |
| Feb 14, 2025 | Feb 14 | Mar 10 | $0.525 | raised from $0.4675 |
| Nov 15, 2024 | Nov 15 | Dec 10 | $0.4675 |
Ownership
Shares outstanding 41.98M · Float 41.12M · 98.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 6.56M | 15.62% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 3.00M | 7.14% | 13F | Aug 13, 2026 |
| Cascade Investment, L.L.C. | 2.97M | 7.10% | 13D/A | Oct 3, 2024 |
| State Street Corporation | 2.15M | 5.10% | 13G | Aug 7, 2026 |
| Vanguard Capital Management LLC | 1.89M | 4.50% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 11, 2026 | Paul L. Knutson | officer: VP, Human Resources | −475 | $94.63 |
| Aug 10, 2026 | Paul L. Knutson | officer: VP, Human Resources | −250 | $92.84 |
| Aug 7, 2026 | Paul L. Knutson | officer: VP, Human Resources | −3,500 | $93.11 |
Peers
- NorthWestern Energy
Regulated electric & gas utility serving MT, SD, NE; MISO/SPP/WECC participant
- Westlake
Integrated PVC resin & pipe maker; Westlake Pipe & Fittings competes in municipal water pipe
- Mayville Engineering
US contract metal fabricator for ag, powersports, construction, and defense OEMs
- MGE Energy
Midwestern regulated gas+electric utility serving Madison, WI via MISO
- Advanced Drainage Systems
Largest US plastic pipe maker for stormwater and wastewater drainage
- IDACORP
Vertically integrated regulated electric utility in Idaho and Oregon, ~3× OTPCo scale
- Atkore
Electrical conduit leader with a secondary PVC water pipe line serving municipal waterworks
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Otter Tail | $90.55 | −0.34% | $3.81B | 19.6 | 15.8 | 2.9 | +0.4% |
| NorthWestern Energy | $70.32 | −0.01% | $4.33B | 25.4 | 18.7 | 2.6 | +14.6% |
| Westlake | $75.71 | −0.07% | $9.70B | — | 19.9 | 0.9 | +10.8% |
| Mayville Engineering | $19.30 | −0.10% | $406.1M | — | 27.7 | 0.7 | +23.2% |
| MGE Energy | $78.15 | −0.08% | $2.95B | 19.2 | 19.5 | 3.8 | +1.1% |
| Advanced Drainage Systems | $137.67 | +0.43% | $10.50B | 23.7 | 21.5 | 3.3 | +45.0% |
| IDACORP | $135.78 | +0.04% | $7.85B | 22.5 | 20.5 | 4.4 | +10.9% |
| Atkore | $93.51 | −0.10% | $3.16B | — | 15.3 | 1.1 | +8.1% |
| Median | 23.1 | 19.9 | 2.6 | +10.9% |