Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. It operates through three segments: Electric, Manufacturing, and Plastics. The Electric segment generates, purchases, transmissions, distributes, and sells electric energy in Minnesota, North Dakota, and South Dakota; and operates as a participant in the Midcontinent Independent System Operator markets. This segment generates electricity through coal, fuel oil, solar, wind, and natural gas for residential, commercial, and industrial customers. Its Manufacturing segment engages in metal fabrication services for custom machine parts and metal components and manufacturing thermoformed plastic products for use in the agriculture, construction, horticulture, industrial, lawn and garden, recreational vehicle, and other end markets. These businesses have manufacturing facilities in Georgia, Illinois, and Minnesota and sell products primarily in the United States. The Plastics segment manufactures polyvinyl chloride pipes for municipal water, rural water, wastewater, storm drainage and water reclamation system, and other uses for customers in the horticulture, medical and life sciences, industrial, recreation, and electronics industries. This segment markets its products through independent sales representatives, company salespersons, and customer service representatives. Otter Tail Corporation was incorporated in 1907 and is headquartered in Fergus Falls, Minnesota.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.3B | $488M | $276M | $98M | 14.8% | -2.0% | -8.5% |
| 2024 | $1.3B | $516M | $302M | $94M | 18.1% | -1.4% | 2.5% |
| 2023 | $1.3B | $499M | $294M | $117M | 20.4% | -7.6% | 3.5% |
| 2022 | $1.5B | $486M | $284M | $218M | 23.3% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,460.21 | 1,349.17 | 1,330.55 | 1,304.06 |
| Operating Revenue | - | 1,460.21 | 1,349.17 | 1,330.55 | 1,304.06 |
| Cost Of Revenue | - | 889.71 | 784.02 | 747.45 | 740.68 |
| Gross Profit | - | 570.50 | 565.15 | 583.10 | 563.38 |
| Operating Expense | - | 180.06 | 187.23 | 202.85 | 217.70 |
| Selling General And Administration | - | 69.72 | 72.66 | 80.06 | 82.57 |
| Total Expenses | - | 1,069.77 | 971.25 | 950.30 | 958.38 |
| Operating Income | - | 390.44 | 377.92 | 380.25 | 345.68 |
| Total Operating Income As Reported | - | 390.44 | 377.92 | 380.25 | 345.68 |
| EBITDA | - | 486.15 | 499.12 | 515.83 | 487.61 |
| Normalized EBITDA | - | 486.15 | 499.12 | 515.83 | 487.61 |
| EBIT | - | 393.55 | 401.17 | 408.71 | 369.50 |
| Interest Expense | - | 36.02 | 37.68 | 41.82 | 47.23 |
| Net Interest Income | - | -36.02 | -37.68 | -41.82 | -47.23 |
| Other Non Operating Income Expenses | - | 3.11 | 23.25 | 28.46 | 23.82 |
| Other Income Expense | - | 3.11 | 23.25 | 28.46 | 23.82 |
| Interest Expense Non Operating | - | 36.02 | 37.68 | 41.82 | 47.23 |
| Net Non Operating Interest Income Expense | - | -36.02 | -37.68 | -41.82 | -47.23 |
| Pretax Income | - | 357.54 | 363.49 | 366.89 | 322.28 |
| Tax Provision | - | 73.35 | 69.30 | 65.23 | 46.38 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 284.18 | 294.19 | 301.66 | 275.89 |
| Net Income From Continuing And Discontinued Operation | - | 284.18 | 294.19 | 301.66 | 275.89 |
| Net Income From Continuing Operation Net Minority Interest | - | 284.18 | 294.19 | 301.66 | 275.89 |
| Net Income | - | 284.18 | 294.19 | 301.66 | 275.89 |
| Net Income Common Stockholders | - | 284.18 | 294.19 | 301.66 | 275.89 |
| Net Income Including Noncontrolling Interests | - | 284.18 | 294.19 | 301.66 | 275.89 |
| Normalized Income | - | 284.18 | 294.19 | 301.66 | 275.89 |
| Diluted NI Availto Com Stockholders | - | 284.18 | 294.19 | 301.66 | 275.89 |
| Basic Average Shares | - | 41.59 | 41.67 | 41.78 | 41.86 |
| Diluted Average Shares | - | 41.93 | 42.04 | 42.07 | 42.12 |
| Reconciled Depreciation | - | 92.60 | 97.95 | 107.12 | 118.11 |
| Reconciled Cost Of Revenue | - | 889.71 | 784.02 | 747.45 | 740.68 |
| Depreciation Amortization Depletion Income Statement | - | 92.60 | 97.95 | 107.12 | 118.11 |
| Depreciation And Amortization In Income Statement | - | 92.60 | 97.95 | 107.12 | 118.11 |
| General And Administrative Expense | 65.39 | 69.72 | 72.66 | - | - |
| Other Gand A | 65.39 | 69.72 | 72.66 | - | - |
| Salaries And Wages | 2.02 | -1.08 | -10.60 | - | - |
| Other Operating Expenses | 65.39 | 69.72 | - | - | - |
| Other Taxes | - | 17.74 | 16.61 | 15.66 | 17.02 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Otter Tail Corporationthis co. | OTTR | $3.6B | 13.16β discount | 1.95 | 14.8% | 8.92 |
| Griffon Corporation | GFF | $3.9B | 77.09 | 53.26 | 69.1% | 18.97 |
| Mueller Water Products, Inc. | MWA | $3.9B | 20.48 | 4.00 | 19.5% | 12.33 |
| Korn Ferry | KFY | $3.7B | 14.92 | 1.97 | 13.2% | 7.26 |
| Standex International Corporation | SXI | $3.6B |
| - |
| - |
| - |
| - |
| - |
| 64.67 |
| 5.07 |
| 7.8% |
| 32.03 |
| Kadant Inc. | KAI | $3.6B | 35.19 | 3.66 | 10.4% | 18.27 |
| The GEO Group, Inc. | GEO | $3.4B | 13.21 | 2.23 | 16.9% | 7.99 |
| SkyWest, Inc. | SKYW | $3.3B | 7.72 | 1.20 | 15.6% | 5.47 |
| ArcBest Corporation | ARCB | $3.3B | 54.12 | 2.51 | 4.6% | 13.60 |
| Peer Median | - | 27.84 | 3.09 | 14.4% | 12.96 | |