Allete Inc Reports Results For The Quarter Ended In September: Earnings Summary

ALLETE

02/11/2023 15:44

* ALLETE Inc  ALE.N  reported quarterly adjusted earnings of
$1.49​​ per share for the quarter ended in September, higher
than the same quarter last year, when the company reported EPS
of 59 cents.  The mean expectation of six analysts for the
quarter was for earnings of 65 cents per share. Wall Street
expected results to range from 61 cents to 71 cents per share.
    * Revenue fell 2.4% to $378.80 million from a year ago;
analysts
expected $397.25 million. 
    * ALLETE Inc's reported EPS for the quarter was $1.49​.
    * The company reported quarterly net income of $85.9
million.
    * ALLETE Inc shares had risen by 2.1% this quarter and
lost 16.4%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 6% in
the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 3
"hold" and 2 "sell" or "strong sell." 
    * Wall Street's median 12-month price target for ALLETE Inc
is
$60.00 

This summary was machine generated from LSEG data November 2 at
03:44 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      0.65           1.49           Beat
 Jun. 30 2023      0.80           0.90           Beat
 Mar. 31 2023      1.18           1.02           Missed
 Dec. 31 2022      1.15           0.88           Missed