Otter Tail Corporation (NASDAQ:OTTR) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Otter Tail Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 25% to $0.21 in the quarter versus EPS of $0.28 in the year-earlier quarter.
Revenue: Decreased 25.14% to $212.39 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Otter Tail Corporation reported adjusted EPS income of $0.21 per share. By that measure, the company missed the mean analyst estimate of $0.26. It missed the average revenue estimate of $220.4 million.
Quoting Management: “Overall, our 2013 second quarter results met our expectation for improved earnings over 2012,” said Otter Tail Corporation President and CEO Jim McIntyre. “The successful realignment of our portfolio has better positioned us for stronger execution within our remaining companies. The year-to-date results from continuing operations of $22.7 million in net income and $0.61 in diluted earnings per share compared to $17.1 million and $0.46 for 2012, a 33% improvement, further indicate progress toward a successful 2013.”
Key Stats (on next page)…