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Shares of Otter Tail (NASDAQ: OTTR) were sliding today after the utilities and manufacturing company posted better-than-expected results in its third-quarter earnings report but cut its guidance for the full year.
As of 10:49 a.m. ET, the stock was down 10.6%.
Otter Tail said that revenue in the quarter jumped 21.3% to $383.9 million in part due to higher utility rates and materials prices. That figure easily beat analyst estimates at $357.8 million.