Otter Tail (OTTR) FY2019 results: revenue $920 million, up 0.3% on the year
Otter Tail Corp. (OTTR) reported revenue of $920 million for fiscal 2019, the year ended 31 December 2019, up 0.3% on the year before. Net income was $87 million, up 5.5%, and diluted earnings per share $2.17. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$920 million
+0.3% on the year
FY2012FY2019
Operating margin
14.7%
14.1% a year earlier
FY2012FY2019
Net income
$87 million
+5.5% on the year
FY2012FY2019
Diluted EPS
$2.17
+5.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
920
916
849
+0.3%
Cost of revenue
355
n/a
n/a
Gross profit
564
n/a
n/a
Gross margin
61.4%
n/a
n/a
Operating income
135
129
132
+4.2%
Operating margin
14.7%
14.1%
15.6%
Pre-tax income
104
96.9
99.7
+7.6%
Income tax
17.4
14.6
27.3
+19.6%
Effective tax rate
16.7%
15.0%
27.3%
Net income
86.8
82.3
72.4
+5.5%
Net margin
9.4%
9.0%
8.5%
Diluted EPS
$2.17
$2.06
$1.82
+5.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
185
143
174
+29.0%
Capital expenditure
207
105
133
+96.7%
Free cash flow
-22.3
38.0
40.7
Free cash flow margin
-2.4%
4.1%
4.8%
Cash from investing
-209
-107
-133
Cash from financing
44.8
-51.4
-24.8
Depreciation and amortisation
78.1
74.7
72.5
+4.6%
Share-based compensation
6.0
4.4
3.6
+34.2%
Buybacks
2.7
3.0
1.8
-9.3%
Dividends paid
55.7
53.2
50.6
+4.7%
Dividend per share
$1.40
$1.34
$1.28
+4.5%
Diluted shares, weighted
40m
40m
40m
+0.2%
Shares outstanding at period end
40m
40m
40m
+1.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
781
729
697
+7.2%
Debt
696
609
603
+14.3%
Operating lease liabilities
18.2
0.0
n/a
Other liabilities
778
715
704
+8.9%
Total liabilities and equity
2,274
2,053
2,004
+10.8%
Fixed assets
1,754
1,581
1,540
+10.9%
Goodwill
37.6
37.6
37.6
0.0%
Intangible assets
11.3
12.4
13.8
-9.3%
Investments
45.4
9.0
8.6
+406.3%
Cash and equivalents
21.2
0.9
16.2
+2,362.1%
Receivables
77.9
75.1
68.5
+3.7%
Inventory
97.9
106
88.0
-7.9%
Other assets
229
230
232
-0.7%
Total assets
2,274
2,053
2,004
+10.8%
10-K for the year ended 31 December 2019, filed 19 February 2021: the filing.