Utility ALLETE's Q3 profit falls on lower sales to industrial customers

ALLETE

31/10/2025 10:39

Overview

ALLETE Q3 2025 earnings per share fell to 46 cents from 78 cents last year

Company awaits MPUC order to complete partnership with CPP Investments and GIP

ALLETE Clean Energy Q3 net loss due to transmission network outages in SPP market

Outlook

ALLETE expects lower sales to industrial customers to continue through 2025

Company anticipates $200 mln in benefits for Minnesota Power customers

Rate case stay-out provision to impact 2026 financials

Result Drivers

INDUSTRIAL SALES DECLINE - Lower sales to industrial customers at Minnesota Power impacted net income negatively

TRANSMISSION OUTAGES - ALLETE Clean Energy's net loss due to transmission network outages in the SPP market affecting production and tax credits

PROJECT CLOSING TIMING - New Energy Equity's lower net income due to timing of renewable project closings, partially offset by higher tax equity earnings

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Operating revenue
$375 mln
Q3 Net Income
$13.30 mln
Q3 Basic EPS
$0.47
Q3 Operating Income
$29.60 mln
Q3 Pretax Profit
$14.90 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the electric utilities peer group is "buy"

Wall Street's median 12-month price target for ALLETE Inc is $67.86, about 0.7% above its October 30 closing price of $67.39

The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release: ID:nBw6CzP5ra

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)