Otter Tail (OTTR) FY2022 results: revenue $1.5 billion, up 22.8% on the year
Otter Tail Corp. (OTTR) reported revenue of $1.5 billion for fiscal 2022, the year ended 31 December 2022, up 22.8% on the year before. Net income was $284 million, up 60.8%, and diluted earnings per share $6.78. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2023.
Revenue
$1.5 billion
+22.8% on the year
FY2015FY2022
Operating margin
26.6%
20.9% a year earlier
FY2015FY2022
Net income
$284 million
+60.8% on the year
FY2015FY2022
Diluted EPS
$6.78
+60.3% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
389
231
212
+68.4%
Capital expenditure
171
172
372
-0.4%
Free cash flow
218
59.4
-160
+267.2%
Free cash flow margin
14.8%
5.0%
-18.1%
Cash from investing
-175
-172
-376
Cash from financing
-96.8
-59.4
144
Depreciation and amortisation
92.6
91.4
82.0
+1.4%
Share-based compensation
6.8
6.9
6.3
-1.4%
Buybacks
n/a
n/a
2.1
Dividends paid
68.8
64.9
60.3
+6.0%
Dividend per share
$1.65
$1.56
$1.48
+5.8%
Diluted shares, weighted
42m
42m
41m
+0.3%
Shares outstanding at period end
42m
42m
41m
+0.2%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
1,217
991
871
+22.9%
Debt
832
855
846
-2.7%
Operating lease liabilities
13.9
15.3
15.3
-9.4%
Other liabilities
838
894
847
-6.2%
Total liabilities and equity
2,902
2,755
2,578
+5.3%
Fixed assets
2,213
2,125
2,049
+4.1%
Goodwill
37.6
37.6
37.6
0.0%
Intangible assets
7.9
9.0
10.1
-12.2%
Investments
54.8
56.7
51.9
-3.3%
Cash and equivalents
119
1.5
1.2
+7,642.1%
Inventory
146
148
92.2
-1.7%
Other assets
324
377
336
-14.1%
Total assets
2,902
2,755
2,578
+5.3%
10-K for the year ended 31 December 2022, filed 15 February 2023: the filing.