ALLETE, Inc. (ALE) Misses Q2 EPS by 1c

ALLETE, Inc. (NYSE: ALE) reported Q2 EPS of $0.50, $0.01 worse than the analyst estimate of $0.51. Revenue for the quarter came in at $314.8 million versus the consensus estimate of $326.7 million.

“We are encouraged by developments in the quarter that point to improved future production levels for Minnesota Power’s taconite customers," said ALLETE Chairman, President and CEO Al Hodnik. “As expected, second quarter results were impacted by lower sales to taconite customers, and we continued to proactively manage the impact by utilizing the wholesale power markets and tightening operating and maintenance expenses."

For earnings history and earnings-related data on ALLETE, Inc. (ALE) click here.

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