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Otter Tail Q2 Profit Beats Estimates - Quick Facts

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Otter Tail Corp. (OTTR: Quote) reported that its second-quarter income from continuing operations increased to $10.0 million or $0.27 per share, from $7.5 million or $0.21 per share, prior year.

Analysts polled by Thomson Reuters expected the company to report profit per share of $0.23 for the quarter. Analysts' estimates typically exclude special items. Revenues were $234.6 million compared to $212.4 million, a year ago. Analysts expected revenue of $221.20 million for the quarter.

The corporation narrowed its 2014 earnings guidance range to $1.65 to $1.80 per share, from previously announced range of $1.60 to $1.80, based on its strong performance in the first half of 2014. Analysts expect company to report 2014 profit per share of $1.73.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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Editors Pick
Oracle Corp. said Wednesday after the markets closed that its second quarter profit fell 2% from last year, hurt mainly by higher income tax expenses even as revenue increased 3%. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. Apple's iPhone-based Apple Pay system is gaining momentum nationwide with a host of new banks and retailers signing on. The system allows users to link a credit card directly to their device for payments and Apple now says they have deals with banks that account for 90 percent of the debit card transactions in the US. The current drop in fuel prices could lead to a major sales dip for electric automaker Tesla, according to some industry experts. The Elon Musk led manufacturer had predicted sales of over 500,000 new vehicles by 2020, but now that number could fall by as much as 40 percent.
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