ALLETE Q1 EPS $0.88 Misses $1.02 Estimate, Sales $403.30M Miss $504.75M Estimate

5/9/24 6:12:30 AM ET

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ALLETE (NYSE:ALE) reported quarterly earnings of $0.88 per share which missed the analyst consensus estimate of $1.02 by 13.73 percent. This is a 13.73 percent decrease over earnings of $1.02 per share from the same period last year. The company reported quarterly sales of $403.30 million which missed the analyst consensus estimate of $504.75 million by 20.10 percent. This is a 28.61 percent decrease over sales of $564.90 million the same period last year.

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Recent Analyst Ratings for
$ALE

Date	Price Target	Rating	Analyst
1/22/2024	$58.00	Sell → Neutral	Guggenheim
1/10/2024	$64.00	Buy → Neutral	Sidoti
6/27/2023	$63.00 → $54.00	Neutral → Underperform	BofA Securities
5/5/2023	$66.00 → $63.00	Buy → Neutral	BofA Securities
4/6/2023	$74.00	Neutral → Buy	Sidoti
1/23/2023	$53.00 → $54.00	Neutral → Sell	Guggenheim
11/17/2022	$65.00	Underweight → Neutral	JP Morgan
11/14/2022	$53.00 → $66.00	Neutral → Buy	BofA Securities

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Bethany M. Owen named Chair of ALLETE Board of Directors
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ALLETE, Inc. reports third quarter 2024 earnings
ALLETE, Inc. (NYSE:ALE) today reported third quarter 2024 earnings of 78 cents per share on net income of $45.0 million. Last year's third quarter results were $1.49 per share on net income of $85.9 million. Net income for the same quarter in 2023 included approximately 71 cents per share for the favorable arbitration ruling involving a subsidiary of ALLETE Clean Energy. Net income for the third quarter this year included approximately 7 cents per share of transaction expenses related to the merger agreement entered into on May 5, 2024, with Canada Pension Plan Investment Board and Global Infrastructure Partners. "It has been a busy year thus far, and I couldn't be prouder of our entire AL
10/30/24 6:30:00 AM ET
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ALLETE Clean Energy Announces Sale of Wisconsin Wind Site
ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc. (NYSE:ALE), today announced the company has sold the Whitetail wind project in southwestern Wisconsin to Invenergy, with the intent that it be constructed and subsequently sold to WEC Energy Group utilities We Energies and Wisconsin Public Service Corp. (WPS) as well as Madison Gas and Electric Co. (MGE). ALLETE Clean Energy acquired the Whitetail wind project in 2021 and developed it for sale to help companies advance their carbon-reduction goals. The approximately 70-megawatt Whitetail project will consist of up to 21 turbines on about 5,938 acres in Clifton and Wingville townships in Grant County. It will produce enough ener
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ALLETE Board of Directors declares dividend on common stock
The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 70.5 cents per share of common stock. On an annual basis, the dividend is equivalent to $2.82 per share, unchanged from the previous quarter. The regular quarterly dividend is payable December 1 to common stock shareholders of record at the close of business November 15, 2024. ALLETE, Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth; BNI Energy in Bismarck, ND; New Energy Equity, headquartered in Annapolis, MD; and has an 8% equity interest
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ALLETE, Inc. reports third quarter 2024 earnings
ALLETE, Inc. (NYSE:ALE) today reported third quarter 2024 earnings of 78 cents per share on net income of $45.0 million. Last year's third quarter results were $1.49 per share on net income of $85.9 million. Net income for the same quarter in 2023 included approximately 71 cents per share for the favorable arbitration ruling involving a subsidiary of ALLETE Clean Energy. Net income for the third quarter this year included approximately 7 cents per share of transaction expenses related to the merger agreement entered into on May 5, 2024, with Canada Pension Plan Investment Board and Global Infrastructure Partners. "It has been a busy year thus far, and I couldn't be prouder of our entire AL
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ALLETE Clean Energy Announces Sale of Wisconsin Wind Site
ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc. (NYSE:ALE), today announced the company has sold the Whitetail wind project in southwestern Wisconsin to Invenergy, with the intent that it be constructed and subsequently sold to WEC Energy Group utilities We Energies and Wisconsin Public Service Corp. (WPS) as well as Madison Gas and Electric Co. (MGE). ALLETE Clean Energy acquired the Whitetail wind project in 2021 and developed it for sale to help companies advance their carbon-reduction goals. The approximately 70-megawatt Whitetail project will consist of up to 21 turbines on about 5,938 acres in Clifton and Wingville townships in Grant County. It will produce enough ener
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$ALE
Power Generation
Utilities
ALLETE Board of Directors declares dividend on common stock
The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 70.5 cents per share of common stock. On an annual basis, the dividend is equivalent to $2.82 per share, unchanged from the previous quarter. The regular quarterly dividend is payable December 1 to common stock shareholders of record at the close of business November 15, 2024. ALLETE, Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth; BNI Energy in Bismarck, ND; New Energy Equity, headquartered in Annapolis, MD; and has an 8% equity interest
10/25/24 4:30:00 PM ET
$ALE
Power Generation
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ALLETE Q1 EPS $0.88 Misses $1.02 Estimate, Sales $403.30M Miss $504.75M Estimate

Chat with this insight

Recent Analyst Ratings for $ALE

$ALE Leadership Updates

Live Leadership Updates

NT Solar Celebrates New Impact Investment Fund & Series of Successful Transactions

New Energy Equity names Jackie Chambers as chief investment officer

Bethany M. Owen named Chair of ALLETE Board of Directors

$ALE Market Insights

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Mizuho Maintains Neutral on ALLETE, Raises Price Target to $67