OTTR - Otter Tail reports Q3 earnings beat; narrows FY22 EPS guidance below estimates

• Otter Tail press release ( NASDAQ: OTTR ): Q3 GAAP EPS of $2.01 beats by $0.24 .
• Revenue of $383.86M (+21.4% Y/Y) beats by $26.09M .
• "Our total capital investment is anticipated to be $330 million, with approximately $122 million of the investment expected to occur before 2028. We have updated our five year capital expenditure plan to reflect this investment opportunity along with other updates."
• "We are adjusting our 2022 diluted earnings per share guidance to a range of $6.42 to $6.72 vs. consensus of $7.04 from our most recent guidance of $6.83 to $7.13 per share."
• "We remain confident in our ability to achieve a compounded annual growth rate in earnings per share in the range of 5% to 7% using 2024 as the base year. We currently expect to see elevated earnings from our manufacturing platform into 2023 with our earnings mix expected to move to approximately 65% from our Electric segment and 35% from our manufacturing platform beginning in 2024.”

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