奥特泰尔 2025年季度报告

FORM10-Q (Mark One)☒Quarterly Report pursuant to Secon 13 or 15(d) of the Securies Exchange Act of 1934 ☐Transion Report pursuant to Secon 13 or 15(d) of the Securies Exchange Act of 1934 Commission File Number0-53713 OTTER TAIL CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdicon of incorporaon or organizaon) 215 South Cascade Street,Box 496,Fergus Falls,Minnesota(Address of principal execuve offices) Registrant's telephone number, including area code:866-410-8780 Securies registered pursuant to Secon 12(b) of the Act: Indicate by check mark whether the registrant (1) hasfiled all reports required to befiled by Secon 13 or 15(d) of the Securies Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required tofile such reports), and (2) has been subject to suchfiling requirements for the past Indicate by check mark whether the registrant has submied electronically every Interacve Data File required to be submied pursuant to Rule 405 of Regulaon S-Tduring the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles).Yes☑No☐ Indicate by check mark whether the registrant is a large acceleratedfiler, an acceleratedfiler, a non-acceleratedfiler or a smaller reporng company. See thedefinions of “large acceleratedfiler,” “acceleratedfiler,” “smaller reporng company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Checkone): Large Accelerated Filer☑Accelerated Filer☐Non-Accelerated Filer☐Smaller Reporng Company☐Emerging Growth Company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transion period for complying with any new or revisedfinancial accounng standards provided pursuant to Secon 13(a) of the Exchange Act☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☑ Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest praccable date:41,904,370CommonShares ($5 par value) asof April30, 2025. DEFINITIONS The following abbreviaons or acronyms are used in the text. FORWARD-LOOKING INFORMATION This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the Private Securies LigaonReform Act of 1995 (the PSLRA). When used in this Form 10-Q and in futurefilings by Oer Tail Corporaon (the Company) with theSecuries and Exchange Commission (SEC), in the Company’s press releases and in oral statements, words such as “ancipate,”“believe,” “can," "could,” “esmate,” “expect,” "future," "goal," “intend,” "likely," “may,” “outlook,” “plan,” “possible,” “potenal,”"predict," "probable," "projected," “should,” "target," “will,” “would” or similar expressions are intended to idenfy forward-lookingstatements within the meaning of the PSLRA. Such statements are based on current expectaons and assumpons and entail variousrisks and uncertaines that could cause actual results to differ materially from those expressed in such forward-looking statements.The Company’s risks and uncertaines include, among other things, uncertainty of future investments and capital expenditures; ratebase levels and rate base growth; long-term investment risk; seasonal weather paerns and extreme weather events; counterpartycredit risk; future business volumes with key customers; reducons in our credit rangs; our ability to access capital markets onfavorable terms; assumpons and costs relang to funding our employee benefit plans; our subsidiaries’ ability to make dividendpayments; cyber security threats or data breaches; the impact of government legislaon and regulaon including foreign trade andenvironmental policies; health and safety laws and regulaons; the impact of climate change including compliance with legislaveand regulatory changes to address climate change; operaonal and economic risks associated with our electric generang and PART I. FINANCIAL INFORMATION OTTER TAIL CORPORATIONCONSOLIDATED BALANCE SHEETS (unaudited) Table of Contents OTTER TAIL CORPORATION CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (unaudited) 1.Summary of Significant Accounng Policies Overview Oer Tail Corporaon (OTC) and its subsidiaries (collecvely, the "Company", "us", "our" or "we") form a diverse, mul-plaormbusiness consisng of a vercally integrated, regulated ulity with generaon, transmission and distribuon facilies complementedby manufacturing businesses providing metal fabricaon for custom machine parts and metal components, manufacturing of Basis of PresentaonThe unaudited consolidatedfinancial statements included herein have been prepared pursuant to the rules and regulaons of the SEC for interim reporng. Accordingly, they do not include all the informaon and footnotes required by generally acceptedaccou