Otter Tail Swings to Q2 Loss on $103.5M Antitrust Settlement, Slashes EPS Guidance
OTTR sits 22% above its 52-week low of $74.15 on elevated volume (1.9× avg).
Summary
Otter Tail reported a Q2 diluted loss of $0.18 per share, down from a profit a year ago, after booking a $103.5 million charge to settle all remaining PVC pipe antitrust class actions. Revenue for the quarter was $334.4 million. Adjusted EPS of $1.66 beat expectations, driven by strong Plastics volumes and improved Manufacturing mix. The company slashed its 2026 GAAP EPS guidance to $3.84-$4.24 from $5.22-$5.62, entirely due to the settlement, but initiated adjusted EPS guidance of $5.68-$6.08, above the prior range. The settlement removes a major legal overhang, but the headline loss and guidance cut will dominate initial trading. The board also declared a regular quarterly dividend of $0.5775 per share.
At the time of this announcement, OTTR was trading at $90.16 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $3.8B. The 52-week trading range was $74.15 to $95.00. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: BusinessWire.