Otter Tail Corporation (OTTR) Bundle
An Overview of Otter Tail Corporation (OTTR)
General Summary of Otter Tail Corporation
Otter Tail Corporation (OTTR) is a diversified business headquartered in Fergus Falls, Minnesota. The company operates through three primary business segments:
- Electric Utility
- Manufacturing
- Plastics
As of 2024, the company serves customers across multiple states with a focus on utility services and manufacturing operations.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $929.4 million |
| Net Income | $86.1 million |
| Earnings Per Share | $2.47 |
| Total Assets | $1.87 billion |
Industry Leadership
Key Market Positioning:
- Ranked among top regional utility and manufacturing companies
- Operates in 7 states across the Midwest
- Maintains a diverse portfolio of electric utility and manufacturing businesses
Market capitalization as of 2024: $2.1 billion
Mission Statement of Otter Tail Corporation (OTTR)
Mission Statement Overview
Otter Tail Corporation (OTTR) operates with a mission focused on delivering reliable energy infrastructure and diversified business solutions.
Core Mission Components
| Component | Specific Details |
|---|---|
| Energy Services | Electric utility operations serving 136,000 customers across Minnesota, North Dakota, and South Dakota |
| Infrastructure Development | $265.7 million invested in infrastructure improvements in 2023 |
| Business Diversification | 6 distinct business segments generating $2.1 billion in annual revenue |
Strategic Focus Areas
- Sustainable energy generation
- Technological infrastructure modernization
- Customer-centric service delivery
Performance Metrics
Key Performance Indicators:
| Metric | 2023 Value |
|---|---|
| Total Revenue | $2.1 billion |
| Net Income | $138.4 million |
| Electric Utility Customers | 136,000 |
Operational Capabilities
Otter Tail Corporation maintains a robust operational framework across multiple business segments, including:
- Electric utility services
- Manufacturing
- Infrastructure solutions
- Plastic manufacturing
- Construction services
Vision Statement of Otter Tail Corporation (OTTR)
Vision Statement Components of Otter Tail Corporation
Strategic Growth ObjectivesOtter Tail Corporation's vision focuses on strategic expansion across multiple sectors with specific targets:
- Electric utility infrastructure investment: $148.3 million in 2023
- Infrastructure development across Minnesota, North Dakota, and South Dakota regions
- Planned capital expenditures for electric transmission and distribution systems
| Sector | Investment Amount (2024) | Growth Percentage |
|---|---|---|
| Electric Utility | $162.7 million | 9.7% |
| Manufacturing | $45.3 million | 3.2% |
| Plastics Manufacturing | $28.6 million | 2.1% |
Renewable energy commitment demonstrated through:
- Wind energy generation capacity: 214 megawatts
- Solar energy investment: $37.5 million
- Carbon reduction target: 35% by 2030
| Financial Metric | 2024 Projected Value | Year-over-Year Change |
|---|---|---|
| Revenue | $893.4 million | 5.6% |
| Net Income | $112.7 million | 4.3% |
| Earnings Per Share | $2.84 | 3.9% |
Regional focus areas:
- Minnesota: Primary service territory
- North Dakota: Infrastructure development
- South Dakota: Utility service expansion
Core Values of Otter Tail Corporation (OTTR)
Core Values of Otter Tail Corporation (OTTR) in 2024
Integrity and Ethical Business PracticesOtter Tail Corporation demonstrates commitment to integrity through measurable actions:
| Ethical Metric | 2024 Performance |
|---|---|
| Compliance Training Completion Rate | 98.7% |
| Ethics Hotline Reports Investigated | 42 reports |
| Supplier Code of Conduct Adherence | 100% of tier-1 suppliers |
Customer satisfaction metrics for 2024:
- Net Promoter Score: 72
- Customer Retention Rate: 89.5%
- Average Response Time: 2.3 hours
Environmental performance indicators:
| Sustainability Metric | 2024 Data |
|---|---|
| Renewable Energy Generation | 237 MW |
| Carbon Emission Reduction | 22% since 2019 |
| Waste Recycling Rate | 67.3% |
Innovation investments in 2024:
- R&D Spending: $18.2 million
- New Patent Applications: 12
- Technology Upgrade Projects: 7
Employee-related metrics:
| Employee Metric | 2024 Performance |
|---|---|
| Total Employees | 4,672 |
| Training Hours per Employee | 42 hours |
| Workplace Safety Incident Rate | 1.2 per 100 workers |
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