Otter Tail Corp (OTTR) Form 10-Q — Aug 5, 2026
Otter Tail Corporation reported a second-quarter 2026 net loss of $7.6 million (diluted EPS of -$0.18) versus net income of $77.7 million a year earlier, driven by a $103.5 million pre-tax legal settlement charge tied to the U.S. PVC pipe antitrust class actions. Six-month revenue rose 1.6% to $681.4 million. Subsidiaries Northern Pipe Products and Vinyltech agreed to pay $39.5 million, $34.0 million and $30.0 million to three plaintiff classes; the company deposited $73.5 million into escrow in Q2 and the remaining $30.0 million in July, all pending final court approval with opt-out thresholds that could allow termination.
Key figures
- Eps
- 1.54 diluted (six months); Q2 2026 diluted loss per share of -0.18 vs 1.85 in Q2 2025
- Revenue
- 681409000
- Net Income
- 65.0 million (six months); Q2 2026 net loss of 7.6 million vs Q2 2025 net income of 77.7 million
- Total Debt
- 1.270 billion (1.217 billion long-term principal + 53.8 million short-term debt)
- Revenue Yoy
- 1.6% (six months ended June 30, 2026 vs prior year)
- Total Assets
- 4293605000
- Cash Position
- 278383000
- Shares Outstanding
- 41985580
- Notes 2026 A
- 100.0M at 5.33% due 2036-03-19
- Notes 2026 B
- 70.0M at 6.04% due 2056-06-04
- Settlement dpp
- 39500000
- Settlement eup
- 30000000
- Q2 2026 revenue
- 334383000
- Settlement ncsp
- 34000000
- Capex six months 2026
- 324755000
- Escrow paid july 2026
- 30000000
- Sd final rate increase
- 3300000
- Mn interim rate increase
- 28600000
- Senior notes issued 2026
- 170000000
- Total available liquidity
- 601400000
- Effective tax rate q2 2026
- tax benefit of 73.6%
- Mn rate case revised request
- 42300000
- Dividends paid six months 2026
- 48524000
- Dividends per share six months
- 1.155
- Electric segment 6m net income
- 53948000
- Plastics segment 6m net income
- 2859000
- Legal settlement expense q2 2026
- 103500000
- Restricted cash escrow jun 30 2026
- 73500000
- Manufacturing segment 6m net income
- 8854000
- Discrete tax benefit from settlements
- 26300000
Price after filing
Close on the filing date to close N calendar days later (from $92.90). Historical, not a forecast.
AI analysis
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