Otter Tail (OTTR) Q3 FY2026 earnings: revenue $317 million, down 2.7% on the year

Otter Tail Corp. (OTTR) reported revenue of $317 million for Q3 FY2026, the quarter ended 30 September 2026, down 2.7% on the same quarter a year earlier. Net income was $59 million, down 24.0% on the year, and diluted earnings per share $1.41. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$317 million

-2.7% on the year · -5.2% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

21.7%

29.6% a year earlier

Q4 FY2024Q3 FY2026

Net income

$59 million

-24.0% on the year

Q4 FY2024Q3 FY2026

Diluted EPS

$1.41

-24.2% on the year

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 6 kept.

Quarterly diluted EPS was $1.41: Diluted EPS was $1.41 against $1.86 a year earlier. Net income was $59.5 million, against $78.3 million. Diluted weighted-average shares were 42.2 million.
Nine-month results include legal settlement: Nine-month diluted EPS was $2.95, against $5.32. Results include $103.5 million of legal settlement expense; the company reported adjusted diluted EPS of $4.79 for the nine months.
Manufacturing sales volumes rose 13 percent: Manufacturing revenue rose $12.8 million to $89.7 million, with sales volumes up 13 percent and steel cost increases passed through to customers.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	317	335	326	-5.2%	-2.7%
Cost of revenue	119	118	101	+0.9%	+18.1%
Gross profit	198	216	225	-8.6%	-12.0%
Gross margin	62.3%	64.6%	68.9%
Selling, general and administrative	20.1	22.2	17.8	-9.5%	+12.8%
Operating income	68.9	-24.2	96.6		-28.7%
Operating margin	21.7%	-7.2%	29.6%
Interest expense	13.1	12.9	11.8	+1.9%	+11.5%
Income tax	4.5	-21.2	12.8		-64.9%
Net income	59.5	-7.6	78.3		-24.0%
Net margin	18.7%	-2.3%	24.0%
Diluted EPS	$1.41	-$0.18	$1.86		-24.2%

$ million except per share.

Free 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	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	125	112	130	+11.7%	-3.4%
Capital expenditure	127	139	89.1	-9.1%	+42.4%
Free cash flow	-1.6	-27.4	40.5
Free cash flow margin	-0.5%	-8.2%	12.4%
Cash from investing	-120	-140	-89.0
Cash from financing	-48.1	31.0	-22.0
Depreciation and amortisation	30.6	30.8	29.6	-0.7%	+3.6%
Share-based compensation	1.2	2.1	0.7	-42.9%	+71.4%
Dividends paid	24.3	24.3	22.0	0.0%	+10.2%
Dividend per share	$0.58	$0.58	$0.53	0.0%	+10.0%
Diluted shares, weighted	42m	42m	42m	+0.5%	+0.1%
Shares outstanding at period end	42m	42m	42m	0.0%	+0.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	1,913	1,877	1,831	+1.9%	+4.4%
Short-term borrowings	n/a	n/a	0.0
Debt	1,242	1,267	1,043	-2.0%	+19.0%
Other liabilities	1,208	1,150	969	+5.0%	+24.7%
Total liabilities and equity	4,362	4,294	3,844	+1.6%	+13.5%
Fixed assets	176	174	2,821	+1.2%	-93.8%
Goodwill	37.6	37.6	37.6	0.0%	0.0%
Intangible assets	3.8	4.1	4.9	-6.6%	-22.0%
Investments	132	138	132	-4.7%	-0.0%
Cash and equivalents	206	278	326	-26.1%	-36.8%
Inventory	178	170	156	+4.8%	+14.4%
Other assets	3,630	3,492	368	+3.9%	+887.5%
Total assets	4,362	4,294	3,844	+1.6%	+13.5%

Questions

What was Otter Tail's revenue in Q3 FY2026?

Otter Tail (OTTR) reported revenue of $317 million for Q3 FY2026, the quarter ended 30 September 2026, down 2.7% on the same quarter a year earlier.

How much did Otter Tail earn in Q3 FY2026?

Net income for Q3 FY2026 was $59 million, down 24.0% on the year, and diluted earnings per share $1.41.

When did Otter Tail report Q3 FY2026 results?

Otter Tail filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023 †	Q2 FY2023	Q3 FY2023 †	Q4 FY2023 * †	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	333	375	400	384	311	340	338	359	319	347	342	337	303	337	332	326	304	343	335	317
Cost of revenue	130	152	152	139	99.4	112	121	118	103	115	117	111	91.6	104	106	101	91.1	108	118	119
Gross profit	204	223	248	244	211	228	217	240	214	233	226	226	211	233	226	225	213	235	216	198
Gross margin	61%	60%	62%	64%	68%	67%	64%	67%	68%	67%	66%	67%	70%	69%	68%	69%	70%	69%	65%	62%
SG&A	n/a	n/a	n/a	n/a	n/a	18.7	16.9	15.9	21.2	18.9	18.2	18.8	24.2	21.3	17.4	17.8	26.1	21.8	22.2	20.1
Operating income	71.2	98.3	121	116	54.9	80.7	106	121	70.1	95.0	111	108	66.8	84.0	97.5	96.6	67.6	85.2	-24.2	68.9
Operating margin	21%	26%	30%	30%	18%	24%	31%	34%	22%	27%	32%	32%	22%	25%	29%	30%	22%	25%	-7%	22%
Interest expense	n/a	n/a	n/a	n/a	n/a	9.4	9.7	9.2	9.4	9.8	10.2	11.2	10.6	11.6	11.7	11.8	12.2	12.6	12.9	13.1
Pre-tax income	62.3	89.6	112	107	n/a	75.8	102	117	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Tax rate	17%	20%	23%	21%	n/a	18%	20%	21%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net income	51.6	72.0	85.9	84.2	42.0	62.5	82.0	92.0	57.8	74.3	87.0	85.5	54.9	68.1	77.7	78.3	51.8	72.6	-7.6	59.5
Net margin	15%	19%	21%	22%	14%	18%	24%	26%	18%	21%	25%	25%	18%	20%	23%	24%	17%	21%	-2%	19%
Diluted EPS	$1.23	$1.72	$2.05	$2.01	$1.00	$1.49	$1.95	$2.19	$1.37	$1.77	$2.07	$2.03	$1.30	$1.62	$1.85	$1.86	$1.23	$1.73	-$0.18	$1.41
Operating cash flow	76.5	45.4	130	112	101	55.6	129	134	86.0	71.9	152	99.3	130	39.5	120	130	97.0	70.6	112	125
Capital expenditure	54.5	28.7	42.1	52.4	47.9	98.1	53.4	78.3	57.3	74.0	101	84.2	98.9	58.0	66.2	89.1	74.7	185	139	127
Free cash flow	22.0	16.7	88.1	59.9	53.4	-42.5	75.5	55.7	28.7	-2.1	50.1	15.1	31.1	-18.5	53.7	40.5	22.3	-115	-27.4	-1.6
Dividends paid	16.2	17.2	17.2	17.2	17.2	18.3	18.3	18.3	18.3	19.6	19.6	19.6	19.6	22.0	22.0	22.0	22.0	24.3	24.3	24.3
Shares outstanding	42m	42m	42m	42m	42m	42m	42m	42m	42m	42m	42m	42m	42m	42m	42m	42m	42m	42m	42m	42m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 4 November 2026: the filing.