Otter Tail raises FY23 EPS view to $4.55-$4.85 from $3.76-$4.06

Consensus $3.94. The company states: "We are increasing our 2023 earnings per share guidance to a range of $4.55 to $4.85 from our initial guidance of $3.76 to $4.06 primarily due to an increase in expected earnings from our Plastics and Manufacturing segments. Looking forward, our long-term focus remains on executing our strategy to grow our business and achieving operational, commercial and talent excellence to strengthen our position in the markets we serve. We remain confident in our ability to achieve a compounded annual growth rate in earnings per share in the range of 5% to 7% using 2024 as the base year, and we continue to expect an earnings mix of approximately 65% from our Electric segment and 35% from our manufacturing platform beginning in 2024."