Otter Tail Posts Q2 Profit

(RTTNews) - Otter Tail Corp. (OTTR) Monday reported second-quarter net income of $7.7 million or $0.21 per share, compared to net loss of $17.5 million or $0.48 per share last year.

Earnings from continuing operations, net of preferred dividend requirement and other adjustments, were $0.21 per share, up from $0.19 per share last year.

On average, analysts polled by Thomson Reuters expected the company to earn $0.26 per share. Analysts' estimates typically exclude special items. Analysts' estimates typically exclude special items.

Total operating revenues for the quarter rose to $212.4 million from $211.4 million a year ago.

Looking forward, the company lowered the upper-end of its earnings from continuing operations guidance for 2013 to a range of $1.30 to $1.50 per share, from its previous guidance of $1.30 to $1.55. per share.

Analyst currently estimate earnings of $1.41 per share for the year.