Otter Tail (OTTR) FY2021 results: revenue $1.2 billion, up 35.5% on the year
Otter Tail Corp. (OTTR) reported revenue of $1.2 billion for fiscal 2021, the year ended 31 December 2021, up 35.5% on the year before. Net income was $177 million, up 84.4%, and diluted earnings per share $4.23. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2022.
Revenue
$1.2 billion
+35.5% on the year
FY2014FY2021
Operating margin
20.9%
16.7% a year earlier
FY2014FY2021
Net income
$177 million
+84.4% on the year
FY2014FY2021
Diluted EPS
$4.23
+80.8% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
231
212
185
+9.1%
Capital expenditure
172
372
207
-53.8%
Free cash flow
59.4
-160
-22.3
Free cash flow margin
5.0%
-18.1%
-2.4%
Cash from investing
-172
-376
-209
Cash from financing
-59.4
144
44.8
Depreciation and amortisation
91.4
82.0
78.1
+11.4%
Share-based compensation
6.9
6.3
6.0
+9.9%
Buybacks
n/a
2.1
2.7
Dividends paid
64.9
60.3
55.7
+7.5%
Dividend per share
$1.56
$1.48
$1.40
+5.4%
Diluted shares, weighted
42m
41m
40m
+2.2%
Shares outstanding at period end
42m
41m
40m
+0.2%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
991
871
781
+13.8%
Debt
855
846
696
+1.1%
Operating lease liabilities
15.3
15.3
18.2
-0.0%
Other liabilities
894
847
778
+5.6%
Total liabilities and equity
2,755
2,578
2,274
+6.8%
Fixed assets
2,125
2,049
1,754
+3.7%
Goodwill
37.6
37.6
37.6
0.0%
Intangible assets
9.0
10.1
11.3
-10.8%
Investments
56.7
51.9
45.4
+9.3%
Cash and equivalents
1.5
1.2
21.2
+32.2%
Receivables
n/a
n/a
77.9
Inventory
148
92.2
97.9
+61.1%
Other assets
377
336
229
+12.1%
Total assets
2,755
2,578
2,274
+6.8%
10-K for the year ended 31 December 2021, filed 16 February 2022: the filing.