Otter Tail (OTTR) FY2020 results: revenue $883 million, down 4.0% on the year
Otter Tail Corp. (OTTR) reported revenue of $883 million for fiscal 2020, the year ended 31 December 2020, down 4.0% on the year before. Net income was $96 million, up 10.4%, and diluted earnings per share $2.34. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$883 million
-4.0% on the year
FY2013FY2020
Operating margin
16.7%
14.7% a year earlier
FY2013FY2020
Net income
$96 million
+10.4% on the year
FY2013FY2020
Diluted EPS
$2.34
+7.8% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
883
920
916
-4.0%
Cost of revenue
329
355
n/a
-7.3%
Gross profit
554
564
n/a
-1.9%
Gross margin
62.7%
61.4%
n/a
Operating income
148
135
129
+9.6%
Operating margin
16.7%
14.7%
14.1%
Interest expense
34.4
n/a
n/a
Pre-tax income
116
104
96.9
+11.3%
Income tax
20.2
17.4
14.6
+15.9%
Effective tax rate
17.4%
16.7%
15.0%
Net income
95.9
86.8
82.3
+10.4%
Net margin
10.9%
9.4%
9.0%
Diluted EPS
$2.34
$2.17
$2.06
+7.8%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
212
185
143
+14.5%
Capital expenditure
372
207
105
+79.2%
Free cash flow
-160
-22.3
38.0
Free cash flow margin
-18.1%
-2.4%
4.1%
Cash from investing
-376
-209
-107
Cash from financing
144
44.8
-51.4
+220.9%
Depreciation and amortisation
82.0
78.1
74.7
+5.1%
Share-based compensation
6.3
6.0
4.4
+5.5%
Buybacks
2.1
2.7
3.0
-24.2%
Dividends paid
60.3
55.7
53.2
+8.2%
Dividend per share
$1.48
$1.40
$1.34
+5.7%
Diluted shares, weighted
41m
40m
40m
+2.4%
Shares outstanding at period end
41m
40m
40m
+3.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
871
781
729
+11.5%
Debt
846
696
609
+21.5%
Operating lease liabilities
15.3
18.2
0.0
-15.8%
Other liabilities
847
778
715
+8.8%
Total liabilities and equity
2,578
2,274
2,053
+13.4%
Fixed assets
2,049
1,754
1,581
+16.8%
Goodwill
37.6
37.6
37.6
0.0%
Intangible assets
10.1
11.3
12.4
-10.2%
Investments
51.9
45.4
9.0
+14.3%
Cash and equivalents
1.2
21.2
0.9
-94.5%
Receivables
n/a
77.9
75.1
Inventory
92.2
97.9
106
-5.8%
Other assets
336
229
230
+47.1%
Total assets
2,578
2,274
2,053
+13.4%
10-K for the year ended 31 December 2020, filed 19 February 2021: the filing.