Otter Tail Corporation (NASDAQ:OTTR) Q3 2022 Earnings Conference Call November 1, 2022 11:00 AM ET

Company Participants

Tyler Akerman – Manager of Investor Relations

Chuck MacFarlane – President and Chief Executive Officer

Kevin Moug – Senior Vice President and Chief Financial Officer

Conference Call Participants

Brian Russo – Sidoti

Operator

Good morning, and welcome to Otter Tail Corporation’s Q3 2022 Earnings Conference Call. Today’s call is being recorded and we will hold a question-and-answer session after the prepared remarks.

I will now turn the call over to the company for their opening comments.

Tyler Akerman

Good morning, everyone, and welcome to our call. My name is Tyler Akerman. I’m the Manager of Investor Relations at Otter Tail. Last night, we announced our third quarter 2022 financial results. Our complete earnings release and slides accompanying this call are available on our website at ottertail.com. A recording of the call will be available on our website later today.

With me on the call today are Chuck MacFarlane, Otter Tail Corporation’s President and CEO; and Kevin Moug, Otter Tail Corporation’s Senior Vice President and Chief Financial Officer.

Before we begin, I want to remind you that we will be making forward-looking statements during this call. As noted on Slide 2, these statements represent our current views and expectations of future events. They are subject to risks and uncertainties which may cause actual results to differ from those presented here. Be advised about placing undue reliance on any of these statements.

Our forward-looking statements are described in more detail in our filings with the Securities and Exchange Commission, which we encourage you to review. Otter Tail Corporation disclaims any duty to update or revise our forward-looking statements due to new information, future events, developments or otherwise.

For opening remarks, I will now turn the call over to Otter Tail Corporation’s President and CEO, Mr. Chuck MacFarlane.

Chuck MacFarlane

Thank you, Tyler. Good morning, and welcome to our third quarter 2022 earnings call. Otter Tail Corporation achieved financial results, record financial results for the third quarter, led primarily by another outstanding quarter in our Plastics segment.

Please refer to Slide 4 as I begin my comments on our third quarter results. We achieved diluted earnings per share of $2.01, which is an increase of 60% over the third quarter of 2021. All segments produced double-digit year-over-year earnings increases for the quarter. Kevin will provide more detailed discussion of our third quarter financial performance.