ALLETE (NYSE:ALE) reported its Q4 earnings results on Tuesday, February 20, 2024 at 06:15 AM.
Here's what investors need to know about the announcement.
Earnings
ALLETE missed estimated earnings by 8.25%, reporting an EPS of $0.89 versus an estimate of $0.97.
Revenue was down $23.10 million from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.81 which was followed by a 0.82% drop in the share price the next day.
Here's a look at ALLETE's past performance:
| Quarter | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|
| EPS Estimate | 0.68 | 0.78 | 1.18 | 1.15 |
| EPS Actual | 1.49 | 0.90 | 1.02 | 0.90 |
| Revenue Estimate | 397.25M | 378.53M | 394.75M | 404.81M |
| Revenue Actual | 378.80M | 533.40M | 564.90M | 425.80M |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
ALLETE management provided guidance for FY 2024, expecting earnings between $3.6 and $3.9 per share.
To track all earnings releases for ALLETE visit their earnings calendar here.
This article was generated by Benzinga's automated content engine and reviewed by an editor.