Otter Tail Corp (OTTR) Tops Q1 EPS by 13c, Beats on Revenues; Boosts FY18 EPS Guidance

Otter Tail Corp (NASDAQ: OTTR) reported Q1 EPS of $0.66, $0.13 better than the analyst estimate of $0.53. Revenue for the quarter came in at $241.27 million versus the consensus estimate of $224.9 million.

2018 Business Outlook

We are raising our consolidated diluted earnings per share guidance for 2018 to be in the range of $1.90 to $2.05 from our previously announced guidance range of $1.80 to $1.95. The revised guidance is the result of stronger-than-expected first quarter results from our Plastics segment and reflects strategies for improving future operating results. We have taken into consideration the cyclical nature of some of our businesses as well as current regulatory factors and economic challenges facing our Electric, Manufacturing and Plastics segments. We expect capital expenditures for 2018 to be $110 million compared with actual cash used for capital expenditures of $133 million in 2017. Our planned expenditures for 2018 include $33 million for the Big Stone South-Ellendale transmission line project, which positively impacts earnings by providing an immediate return on invested funds through rider recovery mechanisms.

GUIDANCE:

Otter Tail Corp sees FY2018 EPS of $1.90-$2.05, versus the consensus of $2.09.

For earnings history and earnings-related data on Otter Tail Corp (OTTR) click here.

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